Fiscal auditing is mandatory for companies whose balance sheet-, trading- and employment volumes exceed certain criteria. Use Audit Calculator to find out if your company will be subject to auditing requirement.
Audit obligation
Unless otherwise provided for by law, an audit of the annual accounts is compulsory for accounting entities within the meaning of the Accounting Act, in whose annual accounts at least two of the indicators of the financial year exceed the following conditions:
- Sales revenue or income 4,000,000 euros
- Total assets as of the balance sheet date 2,000,000 euros
- Average number of employees 50 people
An audit of the annual accounts is compulsory for accounting entities within the meaning of the Accounting Act, in whose annual accounts at least one of the indicators of the financial year exceeds the following conditions:
- Sales revenue or income 12,000,000 euros
- Total assets as of the balance sheet date 6,000,000 euros
- Average number of employees 180 people
Review (lighter version of audit) obligation
Unless otherwise provided for by law, a review of the annual accounts is compulsory within the meaning of the Accounting Act for an accounting entity, in whose annual accounts at least two of the indicators of the financial year exceed the following conditions:
- Sales revenue or income 1,600,000 euros
- Total assets as of the balance sheet date 800,000 euros
- average number of employees 24 people
A review of the annual report is compulsory within the meaning of the Accounting Act for an accounting entity, in whose annual accounts at least one of the indicators of the financial year exceeds the following conditions:
- Sales revenue or income 4,800,000 euros
- Total assets as of the balance sheet date 2,400,000 euros
- Average number of employees 72 people
The fiscal audit is organized by an independent assessor – i.e. a natural person or auditing firm entered on the list of Estonian auditors. The general meeting of the company appoints auditor(s), determines the number of auditors, the procedures for remuneration, and the term of the auditor’s authority.
We work closely with several auditing companies and certifyed auditors, and upon your request we can refer you to available auditors.
Please see the Estonian Accounting Act here.