{"id":10647,"date":"2024-06-12T11:43:03","date_gmt":"2024-06-12T09:43:03","guid":{"rendered":"https:\/\/www.augelegalfiscal.com\/actualidad\/audit-of-accounts-a-new-reality-from-2025\/"},"modified":"2024-06-12T11:43:03","modified_gmt":"2024-06-12T09:43:03","slug":"audit-of-accounts-a-new-reality-from-2025","status":"publish","type":"actualidad","link":"https:\/\/www.augelegalfiscal.com\/en\/actualidad\/audit-of-accounts-a-new-reality-from-2025\/","title":{"rendered":"Audit of Accounts, a New Reality from 2025"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The activity of auditing accounts is essential for the modernity and security of any economic and financial system, as it provides legal security and transparency to companies&#8217; accounting information. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">On May 27, 2024, the General Council approved the new Audit Law, legislation that promises to strengthen our country&#8217;s economy by providing companies with higher levels of transparency. This new law represents a significant advance in the regulation and supervision of the business sector, ensuring that accounting practices comply with current regulations and that companies&#8217; financial statements reflect a true image.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Public limited companies or limited liability companies must submit their annual accounts to the audit of a person with the legal status of an auditor if during two consecutive fiscal years, at least two of the following conditions are met:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"> Total assets exceed \u20ac3,600,000.00<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Annual turnover exceeds \u20ac6,000,000.00<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> Number of employees during the fiscal year exceeds 50 workers<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Additionally, if a company exceeds an annual turnover of \u20ac10,000,000.00 for two consecutive fiscal years, it will be required to carry out a financial audit, regardless of the total assets and number of employees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding the entry into force of the new Audit Law, it will apply to reports corresponding to fiscal years beginning on or after January 1, 2025.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The activity of auditing accounts is essential for the modernity and security of any economic and financial system, as it provides legal security and transparency to companies&#8217; accounting information. On May 27, 2024, the General Council approved the new Audit Law, legislation that promises to strengthen our country&#8217;s economy by providing companies with higher levels of transparency.<\/p>\n","protected":false},"featured_media":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-10647","actualidad","type-actualidad","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/actualidad\/10647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/actualidad"}],"about":[{"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/types\/actualidad"}],"version-history":[{"count":0,"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/actualidad\/10647\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.augelegalfiscal.com\/en\/wp-json\/wp\/v2\/media?parent=10647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}