{"id":6402,"date":"2022-01-05T13:30:41","date_gmt":"2022-01-05T15:30:41","guid":{"rendered":"https:\/\/audita.lt\/zinynas\/kas-privalo-atlikti-audita\/"},"modified":"2025-07-29T10:48:57","modified_gmt":"2025-07-29T12:48:57","slug":"who-is-required-to-conduct-audit","status":"publish","type":"zinynas","link":"https:\/\/audita.lt\/en\/manual\/accounting\/who-is-required-to-conduct-audit\/","title":{"rendered":"Who is required to conduct an audit"},"content":{"rendered":"

Updated 06.02.2025<\/p>\n

 <\/p>\n

The annual financial statements must be audited by:<\/strong><\/h3>\n

\u2014 state and municipal companies;<\/p>\n

\u2014 public interest companies;<\/p>\n

\u2014 joint stock companies;<\/p>\n

\u2014 closed joint-stock companies in which the state and\/or municipality is a shareholder;<\/p>\n

\u2014 legal entities that are required to prepare financial statements in accordance with the laws governing their activities;<\/p>\n

if they meet at least one of the following 2 conditions:<\/p>\n

 <\/p>\n

1) At least 2 indicators on the last day of the financial year exceed the following values:<\/p>\n

\u2014 Net sales revenue during the reporting financial year \u2013 4.5 million euros;<\/p>\n

\u2014 Value of assets indicated in the balance sheet \u2013 2.5 million euros;<\/p>\n

\u2014 Average annual number of employees during the reporting financial year \u2013 50.<\/p>\n

2) Funding received from the state or municipal budget and used during the reporting financial year exceeds 500,000 euros.<\/p>\n

 <\/p>\n

Special laws regulating the activities of legal entities may establish other requirements for legal entities regarding the audit of financial statements.<\/p>\n

The annual consolidated financial statements of companies that are required to prepare consolidated financial statements must be audited.<\/p>\n

 <\/p>\n

Legislation<\/strong><\/h3>\n

\u2014 \u200b\u200b Law on Audit of Financial Statements and Other Assurance Services (see Article 3)<\/p>\n

\u2014\u00a0 Law on Reporting of Enterprises and Groups of Enterprises<\/p>\n

 <\/p>\n

We will be happy to assist you with accounting<\/a><\/span>, taxation <\/a><\/span>or finance<\/a> <\/span>matters<\/strong><\/p>\n

Get in touch with us today\u00a0 +370 5 250 2657 \/\u00a0 info@audita.lt<\/span><\/a><\/p>\n

 <\/p>\n","protected":false},"parent":0,"template":"","zinyno_kategorija":[60],"class_list":["post-6402","zinynas","type-zinynas","status-publish","hentry","zinyno_kategorija-accounting"],"yoast_head":"\nWho is required to conduct an audit – Audita - Patyrusi\u0173 buhalteri\u0173 biuras<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/audita.lt\/en\/manual\/accounting\/who-is-required-to-conduct-audit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Who is required to conduct an audit – Audita - Patyrusi\u0173 buhalteri\u0173 biuras\" \/>\n<meta property=\"og:description\" content=\"Updated 06.02.2025   The annual financial statements must be audited by: \u2014 state and municipal companies; \u2014 public interest companies; \u2014 joint stock companies; \u2014 closed joint-stock companies in which the state and\/or municipality is a shareholder; 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