Section 479A Members Consent To Audit Exemption (Qualifying Subsidiary Company)
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ƵSource file
Jurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
✏️ Audit exemption agreementBusiness activity
Agree to audit exemptionA audit exemption agreement is a legally binding agreement between a company and its shareholders that exempts the company from having to undergo a financial audit. The agreement outlines the conditions under which the exemption will be granted, and typically includes provisions such as the shareholders agreeing to waive their right to audit the company's finances.
Section 479A pertains to the exemption from financial statement audits for certain subsidiary companies, based on specified criteria. This legal template could be designed to guide and assist company members in providing their consent to avail the audit exemption for a qualifying subsidiary company.
The template may outline the necessary information and steps that members (shareholders) need to follow to effectively grant their consent for the audit exemption. It could include various provisions and requirements set forth by the Companies Act, ensuring that proper procedures are carried out in accordance with UK law.
By utilizing this legal template, company members can simplify the process of granting consent to withhold the audit obligation, reducing compliance costs and administrative burden for the qualifying subsidiary company that meets the criteria for exemption.
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