Does a Close Corporation Need to Be Audited

Yes, a closed business may be audited. With our team of experts, you can feel confident that we will represent you tenaciously when the support is provided.

What companies are required to be audited?

Public companies, private businesses, companies that control large retirement funds for its employees and nonprofits may all be required under law to provide annual audited statements to ensure compliance with regulations and to provide sufficient financial disclosures.

When should a private company be audited?

The Companies Act states that private companies must have their financial statements audited if it is in the ‘public’s interest’ to do so.