Does Your Travel Company Need an Audit?

ATOL Holders
Standard ATOL Holders with a licensable turnover of > £5m, are required to submit signed audited financial statements. For standard ATOL Holders with licensable turnover of <£5m, an audit is not required unless requested by the CAA. Where unaudited accounts are submitted, the financial statements must include an Accountants Report.

ABTA Members
Unless requested by ABTA, members are only prescribed to submit audited accounts if a statutory audit is required. Where unaudited accounts are submitted, the financial statements must include an Accountants Report.

IATA Agents
Notwithstanding the conditions for exemption from audit as a small company as defined by the CA 2006, Agents may submit certified unaudited accounts provided that (i) the certification is issued by an independent reporting accountant and (ii) the Agent settles its BSP liabilities four times monthly, according to the published BSP Reporting Calendar.

For more information on the above, please contact Yasin Khandwalla, Audit Director on 020 7600 5667