The accounting entity is required by law to carry out a statutory audit or review if certain activities or financial indicators are exceeded.

An audit is mandatory:

  • a public limited company with more than two shareholders;
  • a local government unit and a legal person in public law;
  • a party receiving an allocation from the state budget;
  • To the foundation specified in § 91 (4) / § 92 (2) of the AudS and to a company in which the state has decision-making power.

If the income and assets of a foundation with public sector participation are less than one million euros, an inspection must be ordered, but if the income or assets exceed one million euros, an audit must be ordered.

Other foundations with income and assets of less than one million do not have to order an inspection or audit. However, if the assets or income exceed one million, an inspection must be carried out, and if the audit threshold set for companies is reached (one out of three or two out of three based on the criteria), an audit must be ordered.

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