The current Auditors Activities Act is the law that prescribes the requirements for audit. A review is a simplified version of a full audit.
An audit of the annual accounts is compulsory for companies in whose annual accounts at least two of the indicators of the financial year exceed the following conditions:
1) sales revenue or income of 4,000,000 euros;
2) total assets as of the balance sheet date 2,000,000 euros;
3) an average number of employees is 50 people.
OR
at least one of the indicators of the financial year exceeds the following conditions:
1) sales revenue or income of 12,000,000 euros;
2) total assets as of the balance sheet date 6,000,000 euros;
3) an average number of employees is 180 people.
A review of the annual accounts is compulsory for companies in whose annual accounts at least two of the indicators of the financial year exceed the following conditions:
1) sales revenue or income of 1,600,000 euros;
2) total assets as of the balance sheet date 800,000 euros;
3) an average number of employees is 24 people.
OR
at least one of the indicators of the financial year exceeds the following conditions:
1) sales revenue or income of 4,800,000 euros;
2) total assets as of the balance sheet date 2,400,000 euros;
3) an average number of employees is 72 people.