Statutory and voluntary audits of annual financial statements

The audit of annual financial statements is mandatory for corporations with specific balance sheet totals or number of employees. As per Sections 267 (1) in conjunction with 316 (1) of the German Commercial Code (HGB), if any two of the three below mentioned criteria are exceeded on two consecutive balance sheet dates, it is mandatory for corporations to have their annual financial statements to be audited:

  • Balance sheet total of 6 million Euros after the deduction of a deficit declared on the asset side (Section 268 Para. 3)
  • Sales revenues of 12 million Euros in twelve months before the reporting date
  • Annual average of fifty employees

Have you become curious? Here you can find out which services we offer to you.

We also support you with the preparation of your annual financial statements.