Should my company be audited?

The audit of the annual accounting report is mandatory,

if two indicators out of three are exceeded as of reporting date:

(1) Sales revenue is EUR 4 million

(2) Assets is EUR 2 million

(3) Average number of employees is 50 employees

OR

If at least one indicator is exceeded:

(1) Sales revenue is EUR 12 million

(2) Assets is EUR 6 million

(3) Average number of employees is 180 employees

The audit of the annual accounting report is also mandatory for each joint-stock company (AS), which have more than two shareholders, public agency or local government.

That is, the audit is mandatory for joint-stock companies (AS), which have more than two shareholders, regardless of the performance.

 

The obligation to stand an audit review arises

if two indicators out of three be exceeded:

(1) Sales revenue is EUR 1,600,000

(2) Assets is EUR 800,000

(3) Average number of employees is 24 employees

OR

If at least one indicator is exceeded:

(1) Sales revenue is EUR 4,800,000

(2) Assets is EUR 2,400,000

(3) Average number of employees is 72 employees.

Punamoon OÜ cooperates with the leading auditors in Estonia. We undertake liaison with an auditor, as well as assist in preparing documentation for the auditor. Our accounting firm has its own in-house quality control system, which will definitely be to the liking of your auditor, if any