Audit of Estonian company
In this article we will describe the thresholds for audit of Estonian company.
Introduction
Every year all Estonian companies have to submit to the Commercial Register an annual report for the previous financial year. Such report needs to be submitted during six month after the end of a financial year.
Since most of Estonian companies set financial year from 1st January till 31st December, an annual report is to be submitted till 30th June of the following year.
If some numbers in financials of an Estonian company exceed certain threshold, then such annual report shall be audited before submitting it to the Commercial Register.
There are two options for auditing an annual report: auditory review and auditory control.
Auditory Review
Estonian company shall undergo auditory review if financial indicators exceed the following rates:
| Rates | Sales Revenue | Assets | Employees |
|---|---|---|---|
| At least 2 are true | € 1,6 mln | € 0,8 mln | 24 |
| At least 1 is true | € 4,8 mln | € 2,4 mln | 72 |
Auditory Control
Estonian company shall undergo auditory control if financial indicators exceed the following rates:
| Rates | Sales Revenue | Assets | Employees |
|---|---|---|---|
| At least 2 are true | € 4 mln | € 2 mln | 50 |
| At least 1 is true | € 12 mln | € 6 mln | 180 |
We use ByCycle Tool for work planning and team collaboration.