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Accounting
Statutory Audit Thresholds & FRC Compliance in Mauritius (2025)
Which Mauritian companies must be audited, which qualify as 'small' under the Companies Act, and what the Financial Reporting Council (FRC) expects.
Anexa Biz Jun 27, 2025 11 min read
When is an audit mandatory?
- Every public company.
- Every Global Business Corporation (GBC).
- Every private company that does not qualify as a 'small private company'.
- Any company where the shareholders resolve to appoint auditors.
Small Private Company definition (Companies Act, section 211)
- Turnover ≤ Rs 50 million in the accounting period, AND
- Not a public company, subsidiary of a public company, or a licensee (FSC/Bank of Mauritius).
FRC oversight
The Financial Reporting Council supervises accounting and auditing standards in Mauritius. Auditors of Public Interest Entities (PIEs — listed companies, banks, insurers, GBCs) are subject to a triennial inspection.
Frequently asked questions
Q. Is IFRS mandatory for Mauritian companies?
Public Interest Entities apply full IFRS. Non-PIE companies may apply IFRS for SMEs. Small companies may prepare accounts on the applicable financial reporting framework declared by the directors.
Q. Do Authorised Companies need to be audited?
No. They file a financial summary with the FSC but are not required to appoint an auditor.