In accordance with Practice Directive 10/2024 issued by SSM, to facilitate the transition into the new audit framework, the threshold criteria for audit exemption will be implemented via a phased approach over a period of three (3) years.
The thresholds for revenue, assets and number of employees will increase incrementally as follows:
Financial Periods and Thresholds
|
Year |
2025 |
2026 |
2027 |
|---|---|---|---|
|
Financial Period |
Commencing on or after 1st January 2025 until 31 December 2025 |
Commencing on or after 1st January 2026 until 31 December 2026 |
Commencing on or after 1st January 2027 |
|
Submission Year |
Beginning from 1 January 2026 |
Beginning from 1 January 2027 |
Beginning from 1 January 2028 |
|
Thresholds |
|
|
|
US 16867 
GB 12418 
CA 10511 
AU 9689 
BR 5933 
IE 5267 
NZ 3875 
CN 1330 
