Accountancy in Kenya

>> Audit Requirements in Kenya

Audited accounts are required for purposes of filing a return of a non-individual entity. However, the Companies Act does not compel all companies to undergo a statutory audit.

The Companies Act 2015, requires companies to have their financials audited unless the company is exempt from the requirement to have their financials audited. A company is exempt from requirements to have its financials audited if the company;

  1. Qualifies as a small company in that financial year and in the preceding year. A small company is a company whose turnover is not more than Kshs 50 million, its net assets do not exceed Kshs 20 million and has a maximum of 50 employees. Note however that public companies, listed companies and companies in the insurance and banking industry are ineligible for purposes of the small companies’ regime; or
  2. Has been dormant since incorporation or since the preceding financial year and the company is a small company and it is not required to prepare group financial statements in that year of income; or
  3. Is a non-profit making entity that is audited by the Auditor General.


Latest version updated 11th April 2019

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