Accountancy Age

eric-anstee-2

FORMER ICAEW chief executive Eric Anstee has raised concerns that small businesses will struggle to gain access to finance without externally audited accounts. As the audit threshold has continued to climb, pushing smaller businesses outside of the audit remit, the reliability of their accounts “is brought into question”. The process by which they can gain access to finance is slowed as they look to have the financial statements externally verified. …