Auditing of accounts
Mandatory audit of annual accounts
Generally, the following must undergo a mandatory audit:
Annual accounts that exceed the established limits in two consecutive years:
a) If the total of the asset entries exceeds 2,850,000 euros.
b) If the net amount of the annual turnover figure exceeds 5,700,000 euros.
c) If the average number of workers employed during the financial year is above 50.
Mandatory audit of consolidated annual accounts
The following must undergo a mandatory audit:
The consolidated annual accounts of the set of group or sub-group companies that exceed two of the established limits in two consecutive years:
a) If the total of the asset entries exceeds 11,400,000 euros.
b) If the net amount of the annual turnover figure exceeds 22,800,000 euros.
c) If the average number of workers employed during the financial year is above 250.
The companies in any of the following situations can undergo a voluntary audit:
a) Purchase or sale of companies.
b) Purchase or sale of company shares.
c) Application for subsidies or other type of financing from third parties.
d) Any company or organisation, because having an audit achieves the following:
- Offers greater transparency to third parties (financial institutions, suppliers, clients, etc.)
- Improves the company’s image.
- Provides higher added value to the company.
- Demonstrates tax advantages.
Audit of subsidies (European, national, provincial and municipal)
Audit of travel agents (IATA)
Auditing reports for corporate restructuring situations (personal, financial, company, etc.)
Other special audit reports required by the Capital Companies Act
Reviews and reports for situations concerning the increase/decrease of capital provided for in Royal Legislative Degree 1/2010 (articles 301, 303, 323 and 328)
Independent expert reports on the following, among others:
- Merger projects
- The refinancing of debt
- Non-cash contributions
- Mandatory reports involved in the granting of official subsidies