Statutory Audit Services for UK Companies
- Registered auditors, ACCA registration 4267772
- Audits under the Companies Act 2006 and ISA (UK)
- Signed auditor’s report, filed on time at Companies House
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Conducting Statutory Audits with Accuracy, Clarity, and Legal Confidence
In the UK, companies that exceed the small-company thresholds or operate in regulated markets must have their financial statements audited by a registered auditor. A statutory audit is required by the Companies Act 2006, carried out under International Standards on Auditing (UK), and regulated by the Financial Reporting Council. It ends in a signed auditor’s report that Companies House, your bank and your investors will accept.
MMBA is a firm of Chartered Certified Accountants and Registered Auditors, listed on the UK Audit Register. We report against the framework that applies to your accounts, whether that is FRS 102, FRS 101 or IFRS, and deliver an audit that supports financial clarity, investor confidence and good governance.
Audits take up your finance team’s time, mostly through document requests, walkthroughs and sample testing. We agree the request list upfront and plan fieldwork around your team’s availability. We adapt our approach to your company’s size, structure, group position and sector-specific statutory obligations.
What Makes Our Statutory Audit Services Stand Out?
- Registered auditors, listed on the UK Audit Register
- Audits under the Companies Act 2006 and International Standards on Auditing (UK)
- Reporting under FRS 102, FRS 101 or IFRS, whichever applies to your accounts
- An objective audit opinion built on materiality, audit risk and tested evidence
- Clear communication with your finance team throughout the audit process
- Assurance that your accounts give a true and fair view
- A different approach for different sectors, group structures and business models
- Trusted by fast-growing companies, UK subsidiaries and regulated firms
Do You Need a Statutory Audit?
Size is the most common trigger, but it is not the only one. A statutory audit is required if any of the following applies to your company.
- You exceed two of the three small-company thresholds for two consecutive financial years: turnover above £15 million, balance sheet total above £7.5 million, or more than 50 employees on average
- You are a public limited company, regardless of size
- You are authorised or regulated by the FCA or the PRA
- Your articles of association or a shareholder agreement require an audit
- You are a UK subsidiary of a large group, where we act as component auditor and agree scope with your group auditor
- You receive public funding or grants that carry an audit condition
- You are a charity exceeding the income/asset thresholds, or your trustees/funders require one
Audit exemption works in both directions. A company has to meet the conditions for two consecutive years before it qualifies as small, and a company that exceeds them has to exceed them for two consecutive years before it loses the exemption. A company in its first financial year is judged on that year alone.
If you are not certain where you stand, check your audit position using our audit eligibility tool, or read our guide to the audit threshold and the exemptions that apply.
Talk to MMBA's Statutory Audit Experts
Tell us your year-end, your size and who is asking for the audit. We will confirm what you need and what it involves. Fees are agreed upfront once we understand your requirements.
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What Happens During a Statutory Audit?
Every MMBA statutory audit follows the same process, whether it is your first audit or your tenth. The most common question we get before an engagement starts is how much of your team’s time it will take, so here is what happens and when.
Initial assessment
We confirm whether an audit is required, agree the reporting framework that applies, and set the scope against your filing deadline.
Scope and fee proposal
You receive a tailored scope and fee proposal, agreed in writing once we understand your requirements, before any work begins.
Audit planning
We set materiality and assess audit risk, identifying the balances and controls that need the most testing.
Evidence and testing
Substantive and analytical procedures against your accounting records, transactions, reconciliations and internal controls.
Financial statement review
We assess whether your statements give a true and fair view under the applicable framework and form the audit opinion.
Auditor's report
We resolve audit findings with you and issue the signed auditor's report, ready for filing at Companies House.
Statutory Audit Clients We Support
MMBA supports a wide range of businesses subject to statutory audit requirements, from companies crossing the thresholds for the first time to established groups with multiple entities. Our statutory audit services include:
Full Statutory Audit for Legal Compliance
We conduct statutory audits for companies that exceed the thresholds or operate in regulated sectors, under the Companies Act 2006 and International Standards on Auditing (UK). Our team produces an independent auditor's report confirming whether your financial statements give a true and fair view. Alongside statutory work we provide external audit services and non-statutory audits, with the scope set by whoever is asking.
Review of Accounting Records and Internal Controls
We assess the internal control environment and the accounting systems behind your financial statements, identifying the risk of material misstatement and testing the controls that matter most to the opinion. You can see how that plays out in our Wirex case study. Our compliance audit services help ensure controls meet FCA and Companies Act requirements.
Audit Readiness and Preparation Support
We prepare businesses approaching a first statutory audit, or going through organisational change, so the engagement runs without surprises. That means pre-audit checks, a compliance gap review, and aligning your records, including reconciliations and prior-year audit findings, with your statutory records. Audit-ready accounts shorten fieldwork and reduce the number of questions your finance team has to answer twice.
Why UK Companies Choose MMBA for Statutory Audit?
Choose MMBA if you are looking forward to
We Understand Statutory Obligations
MMBA is listed on the UK Audit Register under ACCA registration 4267772, and only a registered auditor may sign a report Companies House, your bank or an investor will accept. We understand the statutory audit requirements specific to your organisation, whatever your size or group position.
Expertise Across Sectors
Our statutory auditors have supported businesses in property and real estate, healthcare, technology, travel and financial services. For clients in regulated industries, our team reports under FCA requirements and UK GAAP, adapting our approach to each sector's obligations.
Big 4 and Top 10 Trained Audit Team
We bring experience from global firms to every statutory audit. Our registered auditors apply the frameworks and best practices used across international and UK audit environments, whatever the size or complexity of your business.
Efficient Audit with Minimal Disruption
Most of an audit's demand on you comes from document requests, walkthroughs and sample testing. We agree the request list upfront and plan fieldwork around your finance team's availability, wherever your reporting deadline falls.
Independent, Objective Assurance
We maintain full auditor independence while working collaboratively with your finance team throughout the engagement. The audit opinion is built on tested evidence rather than assumption, and it is fair and unbiased.
Real Value Beyond the Audit
We do not audit for compliance alone. We offer proactive advice that improves your reporting, your controls and your stakeholder confidence. Our audit and assurance services further strengthen governance and long-term transparency.
Ready to Appoint a Statutory Auditor?
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MMBA’s Statutory Audit Resources and Knowledge Base
Stay updated with the latest guidance on audit thresholds, reporting standards and what an audit involves.
All You Need to Know About the Major Changes to UK GAAP FRS 102 and Its Impacts
FAQs for Statutory Audit
What is a statutory audit?
A statutory audit is a legally required examination of a company’s financial statements by a registered auditor, carried out under the Companies Act 2006 and the International Standards on Auditing (UK). It ends in a formal auditor’s report stating whether the statements give a true and fair view.
Which companies are required to have a statutory audit?
For financial years beginning on or after 6 April 2025, a company may qualify for audit exemption if it meets at least two of these three conditions: annual turnover of £15 million or less, a balance sheet total of £7.5 million or less, and 50 or fewer employees on average. The conditions normally have to be met for two consecutive financial years before a company qualifies as small, and a company that exceeds them has to exceed them for two consecutive years before it loses the exemption. A company in its first financial year is judged on that year alone. Some companies must be audited regardless of size, and an audit may also be required by the company’s articles, by shareholders, or by FCA or PRA regulation.
If you are unsure whether your company needs an audit, check your audit position using our audit eligibility tool.
What is the difference between statutory and non-statutory audits?
A statutory audit is required by law and can only be performed by a registered auditor. A non-statutory audit is voluntary, commissioned by a lender, a buyer, a parent company or the board, and its scope is whatever the commissioning party asks for. Both are external audits. Read more on the difference between statutory and non-statutory audits.
What is the difference between a statutory audit and an internal audit?
A statutory audit is performed by an external registered auditor, covers the full financial statements, and results in a report filed at Companies House. Internal audit is a management function that reviews controls, processes and risks on an ongoing basis and reports to the board rather than to Companies House. An internal auditor cannot perform your statutory audit, because the auditor must be independent of the business. MMBA provides statutory, external and compliance audits; we do not provide the internal audit function.
How long does a statutory audit take?
It depends on the size and complexity of your business, the quality of your records, and whether it is a first audit. We agree on the timetable against your Companies House filing deadline at the scoping stage and plan fieldwork around your finance team’s availability.
What documents do you need for a statutory audit?
We work from your accounting records and the evidence behind them: the general ledger, bank reconciliations, sales and purchase records, payroll and VAT returns, asset and liability schedules, related-party transactions, your accounting policies and any prior-year audit findings. We send a document request at the planning stage so nothing is chased twice.
Can you audit a UK subsidiary of an overseas group?
Yes. We can audit UK subsidiaries of overseas groups and, where required, work with the group auditor as the UK component auditor. We agree on the required scope and reporting requirements before testing begins and work to the group reporting timetable alongside the UK statutory filing deadline.
Do chartered accountants provide non-statutory audit services?
Yes. Our Chartered Certified Accountants and registered auditors provide non-statutory audit and assurance work for businesses that need independent verification without a legal requirement, including firms dealing in electronic money and insurance market activities.