Mandatory Audit or Voluntary Audit: (in excess of the audit limit for mandatory audit of the financial statements). Current audit limits.
As well as making other changes, the new General Accounting Plan of 1 January 2008 amended the mandatory audit limit for financial statements for the purpose of preparing the abbreviated balance Sheet and Statement of changes in net equity set forth in the Capital Companies Act. In any case, it is mandatory that financial statements above the audit limit must be verified by a ROAC certified chartered auditor. These are the following companies:
1. Companies falling within two of the following categories at year end for two consecutive years. (This is what is known in auditing jargon as the audit limit):
2. For the first financial year from formation, transformation or merger, companies may prepare the balance sheet and statement of changes in net equity in abbreviated net equity if at year end at least three of the conditions set out in the paragraph above are met. Therefore, if the mandatory audit limits are not exceeded, you should not audit your accounts.
These mandatory audit limits have been in force since 1 January 2008. If you are unsure about whether or not your company is required to audit its financial statements or if you need any information about mandatory audit limits, please do not hesitate to contact us. The limits for mandatory audits in Spain differ from those in other European Union countries. Mandatory and voluntary audit limits.
In AOB auditors audit reports we produce annual financial statements for medium-sized companies, are registered in the ROAC auditors in the ICAC, national auditors...
After meeting the requirements, some foundations this must-audited, auditors AOB has a department with five auditors specialized in audits ROAC ...
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We report enlargement or reduction of capital under current law corporations. As auditors we have a team that specializes in these reports ...
We have a team of expert economists in making economic expert reports for financial investigation procedures ...
As independent auditors, registered in the ROAC, we specialize in audits of small and medium enterprises of various sectors. We are a national firm with auditors throughout Spain with a significant presence in Madrid and Barcelona.
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