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It would depend on how serious the fault is. There's a grading system and some faults need to be repaired or the power disconnected. Usually faults that require disconnection are where someone has tampered with the supply or a really bad bodge that threatens life (or livestock!).
Most electricians will visually inspect the wiring at the CU to determine its age and use experience to decide whether they want to rewire based on problems they have encountered with that age of wiring in the past.
I have known a lot of places to get a new CU without any further work being required. Common problems are shared neutrals in circuits on staircases. Lack of an earth running to the gas/electric entry point. Maybe some I've forgotten. The earth one has been happening since a rule change a few years ago. Most of the other regulation changes are pertinent for the CU so a new one makes all that good.
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Airhead
stevo_com
Awesome thanks. Apologies for the follow up question(s). If they found something unsafe, would they usually be willing to replace only the unsafe circuits or would they usually insist on a full rewire. Happy to be looking at replacing anything unsafe, obvs, but not so sure about gutting everything at once unless it is necessary.