External audit requirements

Some firms need to appoint an auditor to do an external audit.

You must appoint an auditor to do an annual external audit on your accounts if your firm is:

  • an authorised professional firm
  • a BIPRU investment firm
  • an insurance intermediary
  • an investment management firm
  • a mortgage administrator
  • a mortgage intermediary
  • a mortgage lender
  • a personal investment firm
  • a securities and futures firm
  • a service company

Firms that don’t need an external audit

You don’t need to do an external audit if your firm is a:

  • partnership
  • sole trader
  • small company that’s exempt from audits
  • CAD firm