An accounting audit is compulsory for an audit entity in whose
- annual accounts at least two of the indicators of the financial year exceed the following conditions:
– sales revenue or income 4,000,000 euros;
– total assets as of the balance sheet date 2,000,000 euros;
– average number of employees 60 people.
- annual accounts at least one of the indicators of the financial year exceeds the following conditions:
– sales revenue or income 12,000,000 euros;
– total assets as of the balance sheet date 6,000,000 euros;
– average number of employees 180 people.
In case the audit obligation thresholds are not met there applies the obligation of review or non-obligation to check on the report.
An accounting is compulsory for an audit entity in whose
- annual accounts at least two of the indicators of the financial year exceed the following conditions:
– sales revenue or income 1,600,000 euros;
– total assets as of the balance sheet date 800,000 euros;
– average number of employees 24 people.
- annual accounts at least one of the indicators of the financial year exceeds the following conditions:
– sales revenue or income 4,800,000 euros;
– total assets as of the balance sheet date 2,400,000 euros;
– average number of employees 72 people.
The audit of the annual accounts in compulsory for all public limited companies, state accounting entities, local governments, legal persons in public law, foundations and political parties receiving allocations from the state budget. Observe the requirements of the non-profit organizations.
Review can also be carried out for financial information prepared for the purposes of consolidation in case such information will be submitted by foreign subsidiaries and their local accounting framework differs from the parent company (i.e. from Estonian GAAP or IFRS) and the group auditor decided that this information may be reviewed instead of the auditing.
