Accounts Preparation Manual (formerly Audit Exemption Manual) (UK)
Our Accounts Preparation Manual (UK) provides you with the current and permanent file programmes needed to prepare accounts under UK GAAP for audit exempt limited companies, including micro-entities and for unincorporated businesses.
The manual also includes:
- accounts disclosure checklists, including versions in accordance with FRS 102, FRS 102 Section 1A and FRS 105;
- guidance notes that summarise the current legal accounting and reporting requirements for audit exempt limited companies; and
- an eligibility checklist to help you confirm the exemptions available.
Our Accounts Preparation Manual (UK) can be browsed online or sections of content or commentary can be downloaded in Microsoft Word or PDF. There is also the flexibility to ‘customise’ a download suitable for your engagement. For every new assignment, you will need to navigate to our website to obtain the most up to date version.
- Guidance notes that provide you with essential background knowledge on the legal framework within which audit exempt limited companies operate, a what’s changed letter identifying all changes from the previous version of the manual and a file review checklist that will help you perform reviews of accounts preparation assignments for quality management purposes. Guidance is also included for unincorporated assignments.
- Example letters, including engagement letters for accounts preparation assignments for limited companies, including micro-entities, and for unincorporated clients. There is also an example letter of representation and disengagement letter as well as a pre year end letter and questionnaire for limited companies.
- Example accountant's reports as well as a directors' balance sheet statement on audit exemption for limited companies and an example unincorporated client approval wording.
- Example audit exempt limited company pro-forma accounts for a small company (FRS 102 Section 1A) and full FRS 102 accounts, as well as pro-forma micro-entity (FRS 105) accounts. Example
- Abridged accounts (FRS 102 Section 1A) are also included.
- Audit exempt limited company accounts disclosure checklists for micro-entities (FRS 105), small companies (FRS 102 Section 1A), full FRS 102 accounts and small groups.
- Audit exempt limited company current file documentation that covers planning, completion, detailed and blank work programmes, a file index and lead schedules. The unincorporated assignment current file documentation provided includes simplified planning and completion documents, along with detailed and blank work programmes.
- Permanent file documentation that provides a structure for your permanent files and outlines the information required which is of continuing importance over a number of years.
July 2025
The principal technical changes in this update include:
- Update of the example accounts and accounts disclosure checklists to reflect the September 2024 editions of UK and Ireland accounting standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime; and
- The new size criteria for companies and changes to the Directors' Report requirements as a result of The Companies (Accounts and Reports) (Amendment and Transitional Provision) Regulations 2024.
July 2024
The principal technical changes in this update include update of disclosure checklists for recent changes in accounting standards.
May 2024
The principal technical changes in this update include update of disclosure checklists for recent minor changes in accounting standards.
October 2023
The principal technical changes in this update relate to the restructuring of the guidance notes.
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