Audits of annual financial statements
The audit of the annual financial statements is required by law for companies with a certain balance sheet total or number of employees. In accordance with Section 267 (1) in conjunction with Section 316 (1) HGB, companies that exceed two of the three criteria listed below on two consecutive balance sheet dates are required to have their annual financial statements audited:
- Balance sheet total of EUR 7.5 million after deduction of a deficit recognized on the assets side (Section 268 (3))
- Sales of EUR 15 million in the twelve months prior to the reporting date
- Annual average of 50 employees
Voluntary audits of annual financial statements are also considered, e.g. at the request of shareholders, lenders or group auditors.
Are you interested? We now concentrate on preparing your annual financial statements and providing tax advice and no longer carry out audits ourselves. However, we will be happy to support you in your search for a suitable auditor. Please contact us.