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Accounts audit
Audit
An account audit shows a true image of the annual accounts and financial statements, both in private sector companies and in non-profit companies such as Foundations, associations or NGOs.
When is it mandatory
audit my accounts?
It is mandatory if, for two years in a row, a company meets at least TWO of the following circumstances:
- That the total of the asset items does not exceed two million eight hundred and fifty thousand euros.
- That the net amount of its annual turnover does not exceed five million seven hundred thousand euros.
- That the average number of workers employed during the year does not exceed fifty.
- Entities, whatever their legal nature and provided that they must formulate annual accounts in accordance with the applicable financial reporting regulatory framework, that during a fiscal year they had received subsidies or aid from the budgets of the Public Administrations or European Union funds, for a total accumulated amount exceeding 600,000 euros, they will be obliged to submit to audit the annual accounts corresponding to said financial year and to the years in which the operations are carried out or the investments corresponding to the aforementioned subsidies or aid are carried out.
- Entities, whatever their legal nature and provided that they must formulate annual accounts in accordance with the applicable financial information regulatory framework, that during a financial year they had entered into with the Public Sector the contracts contemplated in article 2 of Law 30/2007, of October 30, on Public Sector Contracts for a total accumulated amount exceeding 600,000 euros, and this represents more than 50% of the net amount of your annual turnover, They will be obliged to submit to audit the annual accounts corresponding to said fiscal year and those of the following one.
