IMPORTANT: This article was drafted in accordance with the regulatory framework and context for the 2023 fiscal year. The obligation to audit financial statements, the applicable limits, the appointment of an auditor, corporate deadlines, and the obligations regarding the preparation, approval, and filing of annual financial statements must currently be reviewed in accordance with applicable regulations and the specific circumstances of each company.
With the month of October, we begin the last quarter of 2023, a period in which many companies start preparing the necessary documentation to comply with legal regulations required once the fiscal year has concluded.
What are financial audits?
The statutory auditing procedure is an essential component of the legislation regulating capital companies in our country, the Capital Companies Act. These are systematic and detailed processes of review, examination, and verification of an entity’s financial, accounting, and operational records, with the purpose of evaluating the integrity and legality of the information contained in said records. This regulation establishes the obligation for companies to examine their financial statements when they meet at least one of the following criteria for two consecutive years:
- If their assets exceed two million eight hundred and fifty thousand euros.
- If their net annual turnover exceeds five million seven hundred thousand euros.
- If the average number of employees during the year is greater than fifty.
Purpose and Objectives
The purpose of a financial audit is to analyze and certify the economic and financial information of an organization, with the aim of verifying whether the presented accounts accurately reflect the true status of the company’s accounts.
Audit objectives:
- Credibility of financial information.
- Compliance with current regulations.
- Detection and prevention of fraud.
- Improvement of the company’s internal processes and controls.
- Support for decision-making.
Why is it so important to plan them ahead of time?
The main reason why it is necessary to plan them in advance is the high demand from individuals and companies requiring this service. This work requires time and dedication from professionals. Good planning provides professionals with the ability to address any type of problem that arises during the study of the company’s financial situation. Furthermore, it is important to appoint auditors before the end of the fiscal year; otherwise, the corresponding Mercantile Registry will appoint auditors ex officio.
Planning the closing of annual accounts is fundamental to ensuring legal compliance, providing accurate and relevant information, supporting decision-making, and maintaining the financial health of the company. It helps the company operate efficiently and fulfill its financial and accounting obligations.
What are audit reports used for?
Audit reports issued by auditors provide an opinion on the veracity and integrity of the company’s financial statements. These reports can be used by investors, regulators, shareholders, and other stakeholders to make decisions based on verified data.
How can we help you?
The Tax Area of In Diem Abogados specializes in the taxation of self-employed individuals and SMEs, as well as investments and projects based on Blockchain and the cryptocurrency market.
The Tax Area of In Diem Abogados works jointly with the Tax, Commercial, International, Crypto, Financial, and Criminal Law areas to ensure that your operations meet all necessary requirements.
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Author: Marina Martínez Pérez
Preguntas frecuentes sobre auditorías de cuentas
¿Todas las sociedades están obligadas a auditar sus cuentas?
No. La obligación de auditar depende de si la sociedad supera determinados límites legales durante el periodo exigido por la normativa. Por ello, es necesario revisar cada caso concreto y comprobar los datos de activo, facturación y número medio de trabajadores.
¿Por qué es importante planificar la auditoría con tiempo?
Porque la auditoría requiere recopilar documentación, revisar información contable, coordinarse con profesionales especializados y resolver posibles incidencias antes del cierre y presentación de las cuentas. Una buena planificación ayuda a evitar retrasos y problemas de cumplimiento.
¿Cuándo debe nombrarse al auditor de cuentas?
El nombramiento del auditor debe realizarse conforme a los plazos y requisitos legales aplicables. En determinados supuestos, si la sociedad no realiza el nombramiento cuando corresponde, puede intervenir el Registro Mercantil para designar auditor.
¿Qué ocurre si una sociedad obligada no audita sus cuentas?
La falta de auditoría cuando resulta obligatoria puede generar problemas para aprobar o depositar las cuentas anuales, afectar a la imagen financiera de la sociedad y dar lugar a consecuencias mercantiles o administrativas. Es recomendable revisar la obligación con antelación.
¿Qué contiene un informe de auditoría?
El informe de auditoría recoge la opinión del auditor sobre si las cuentas anuales expresan la imagen fiel de la situación financiera y patrimonial de la empresa, de acuerdo con la normativa contable aplicable. También puede incluir salvedades, observaciones o advertencias cuando proceda.
¿Por qué conviene contar con asesoramiento profesional?
Porque la obligación de auditar cuentas, los plazos societarios, la documentación necesaria y las consecuencias de incumplimiento pueden variar según las circunstancias de cada empresa. Un asesoramiento especializado permite planificar correctamente el cierre del ejercicio y cumplir con las obligaciones legales.
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Furthermore, IN DIEM Abogados has extensive experience and a high degree of specialization in the area of Financial Law, offering advice regarding fiscal year-end closings, as well as taxation, providing clients with personalized assistance at all times.
Abogados IN DIEM has a team with experience in roles such as magistrate, state attorney, prosecutor, and university professor, which will give you peace of mind and confidence, knowing you have the best team—one that is competitive and highly qualified to achieve your goals and meet your needs.
We are at your disposal for whatever you need. You can reach us through the IN DIEM Lawyers Telephone (+34) 901 900 071. In cases of Emergency, you have us at the 24-Hour Emergency Lawyers Telephone IN DIEM: (+34) 610 667 452.
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