More Details on Small Company Concept for Audit Exemption

More Details on Small Company Concept for Audit Exemption 更多关于小公司概念的豁免审计细节

Effective Date 生效日期

The audit exemption is applicable for financial years beginning on or after the change in the law (1 Jul 2015). 该审计豁免适用于自法律更改之日(2015年7月1日)起或之后的财务年度。

Qualification Criteria 资格标准

Currently, a company is exempted from having its accounts audited if it is an exempt private company with annual revenue of $5 million or less. This approach is being replaced by a new small company concept which will determine exemption from statutory audit. Notably, a company no longer needs to be an exempt private company to be exempted from audit. 现时,公司如属获豁免的私营公司,年收入不超过500万元,便无须接受帐目审计。这种方法正被一种新的小公司概念所取代,该概念将决定免除法定审计。值得注意的是,一家公司不再需要成为一家获得豁免的私人公司才能免于审计。

A company qualifies as a small company if: 在下列情况下,公司才算是小公司:

(a) it is a private company in the financial year in question; and 在有关财政年度内属私人公司;和

(b) it meets at least 2 of 3 following criteria for immediate past two consecutive financial years: 就最近过去连续两个财政年度而言,它至少符合下列三项准则中的两项:

  1. total annual revenue ≤ $10m; 年总收入≤1000万新元;
  2. total assets ≤ $10m; 总资产≤1000万新元;
  3. no. of employees ≤ 50. 员工人数≤50人。

For a company which is part of a group: 属于一个集团的公司:

(a) the company must qualify as a small company; and 该公司必须具备小公司的资格;和

(b) entire group must be a “small group” to qualify to the audit exemption.整个集团必须是一个“小集团”才有资格获得审计豁免。

For a group to be a small group, it must meet at least 2 of the 3 quantitative criteria on a consolidated basis for the immediate past two consecutive financial years. 集团如要成为小集团,必须在最近连续两个财政年度内,在合并的基础上符合上述3项定量准则中的至少2项。

Where a company has qualified as a small company, it continues to be a small company for subsequent financial years until it is disqualified. A small company is disqualified if: 凡取得小公司资格的公司,其后数年将继续为小公司,直至丧失资格为止。如有下列情况,小公司会被取消资格:

(a) it ceases to be a private company at any time during a financial year; or   在财政年度内任何时间,该公司不再是私营公司; 或

(b) it does not meet at least 2 of the 3 the quantitative criteria for the immediate past two consecutive financial years. 就最近的过去两个连续财政年度而言,它至少不符合3个数量标准中的2个。

Where a group has qualified as a small group, it continues to be a small group for subsequent financial years until it does not meet at least 2 of the 3 the quantitative criteria for the immediate past two consecutive financial years. 当一个集团取得小集团资格时,该团体在其后的财政年度继续为小集团,直至该集团在最近的两个连续财政年度内不符合上述3项定量标准中的至少2项为止。

Transitional Provisions for existing companies 对现有公司的过渡性规定

An existing company can qualify as a “small company” if it is a private company and meets the quantitative criteria in the first or second FY commencing on or after the date of commencement of the “small company” criteria. 现有公司如属私营公司,并符合在“小型公司”准则生效当日或之后开始的第一或第二财政年度的数量准则,便可被界定为“小型公司”。

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