... that time, since the study was part of the consultation on raising the audit exemption thresholds. On the other hand, the size criteria for the present study are based on the April 2008 EU ... examination of, and the subsequent expression of opinion on, the financial statements of an organization’ (Oxford Dictionary of Accounting, 2005, p. 34). 2.17 In the UK, audit exemption was ... to investigate the views of the directors of SMEs on the accounting and auditing options in company law and to update and extend the previous research, which contributed to the ‘think small...