✏️ Audit exemption agreement

About this category

A audit exemption agreement is a legally binding agreement between a company and its shareholders that exempts the company from having to undergo a financial audit. The agreement outlines the conditions under which the exemption will be granted, and typically includes provisions such as the shareholders agreeing to waive their right to audit the company's finances.

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✏️ Audit exemption agreement


Section 479A Members Consent To Audit Exemption (Qualifying Subsidiary Company)

The legal template titled "Section 479A Members Consent To Audit Exemption (Qualifying Subsidiary Company) under UK law" likely pertains to a specific provision of the Companies Act 2006 in the United Kingdom.

Section 479A pertains to the exemption from financial statement audits for certain subsidiary companies, based on specified criteria. This legal template could be designed to guide and assist company members in providing their consent to avail the audit exemption for a qualifying subsidiary company.

The template may outline the necessary information and steps that members (shareholders) need to follow to effectively grant their consent for the audit exemption. It could include various provisions and requirements set forth by the Companies Act, ensuring that proper procedures are carried out in accordance with UK law.

By utilizing this legal template, company members can simplify the process of granting consent to withhold the audit obligation, reducing compliance costs and administrative burden for the qualifying subsidiary company that meets the criteria for exemption.
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Agree to audit exemption

There are a few reasons why someone might want to agree to audit exemption. One reason is that it saves the company money on the cost of the audit. Another reason is that it can help the company to avoid potential problems that might arise from an audit. Finally, agreeing to audit exemption can help to build trust between the company and its shareholders.