Limited or ordinary audit?

The Thresholds

An ordinary audit is required if two of the three indicators are exceeded in two consecutive financial years. Those just below the thresholds should keep an eye on developments – the change requires preparation.

Opting-out with Due Diligence

Small companies with fewer than ten full-time positions can waive the audit. This saves costs but can erode trust: banks, investors, and buyers often still demand audited financial statements.

– Consent of all shareholders required.

– Check financing agreements for audit obligations.

– If a sale is planned, it is better to maintain the audit.

The most important points in brief

– Monitor thresholds annually.

– Opting-out only after consultation with the bank.

– Plan the transition to an ordinary audit one year in advance.