Texto que va en el tag H1

Texto que va en el tag H1


An audit in accounting consists of the checking and the verification of the accounting documents by an independent company, provided that the objective is the emitting of a report that proves the accuracy of the information to third parties.

When is an audit obligatory?

The most common cases concern businesses of the following characteristics:

  1. When they exceed the following parameters during two consecutive years:
    • Assets: 2.850.000 €
    • Turnover: 5.700.000 €
    • Number of employees: >50
  2. When they receive subsidies or benefits from the State or public organizations exceeding 600.000 €
  3. When they realise construction work, deliver services or goods to the State and remaining public organizations for more than 600.000 €
  4. By request of a number of shareholders, which represents at least 5% of the share capital, of those companies that are not subject to an audit. (LSA art. 205)
  5. Public Limited Sports Companies. (L 10/19909 art. 26 and 36)
  6. Electricity Companies. (RD 2550/1994)
  7. Foundations. (L 30/1994 art. 23)

Other types of reports to be realised by an auditor

Besides for the auditing of accounts, you will need an auditor in the following cases:

  1. Special reports on the evaluation of shares, issuing of convertible bonds, increase of share capital by loan offsetting, increase of share capital charged to reserves, reduction of share capital, etc.
  2. Limited Review.
  3. Checking of the justifying costs for subsidies.
  4. Expert reports.