Who is required to conduct audit

Updated 05.02.2024

 

The annual financial statements must be audited by:

— state and municipal companies;

— public interest companies;

— joint stock companies;

— closed joint-stock companies in which the state and/or municipality is a shareholder;

closed joint-stock companies, cooperative companies (cooperatives), real partnerships and limited partnerships, in which all real members are joint-stock companies or closed joint-stock companies;

if at least 2 of their indicators exceed the following amounts on the last day of the financial year:

 

1. Net sales revenue during the reporting financial year – EUR 3,500,000

2. The value of assets indicated in the balance sheet – EUR 1,800,000

3. Average annual number of employees during the reporting financial year – 50

 

Legislation:

1. Law on Corporate Accountability (see Article 24)

2. Law on Consolidated Financial Reporting of Enterprise Groups

3. Audit Law

 

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