Appointment of auditors

Annual audited accounts need to be presented to the Mercantile Registry for companies above a certain size, as well as certain types of company such as those quoted on a stock exchange, financial intermediaries or those carrying out public works. Three criteria have been set to measure the size of the company, and if two of the following three have been exceeded, the company must be audited:
 
– Balance sheet assets of €2,850,000;
– Turnover exceeding €5.7 million;
– Number of employees exceeding 50.
 
Shareholders can obviously ask voluntarily for accounts to be audited if they so wish, even if the above criteria are not met.