s 144 Audit of accounts of larger charities
(1) Subsection (2) applies to a financial year of a charity if— (a) the charity's gross income in that year exceeds £1 million , or (b) the charity's gross income in that year exceeds the accounts threshold and at the end of the year the aggregate value of its assets (before deduction of liabilities) exceeds £3.26 million. “ The accounts threshold ” means the sum for the time being specified in section 133 (account and statement an option for lower-income charities). (2) If this subsection applies to a financial year of a charity, the accounts of the charity for that year must be audited by a person who— (a) is eligible for appointment as a statutory auditor under Part 42 of the Companies Act 2006, or (b) is a member of a body for the time being specified in regulations under section 154 and is under the rules of that body eligible for appointment as auditor of the charity.