Closed petition Require the accounts of all companies be audited

Closed on 21 June 2022

I would like the Government to remove exemptions that mean some small companies do not need to have their accounts audited. The accounts of all companies should be audited, irrespective of their size.

I have seen on multiple occasions within my role as a credit controller, companies falsifying accounts which are not audited.

These figures are then looked at by credit reference agencies who use their own algorithms to make a decision on what credit limit they would offer.

Where accounts have been falsified to make a company appear to be in a better position than they actually are, large credit limits are recommended. Lenders use this information to offer credit and are often left out of pocket.