George Ryland

Does my company need to appoint an auditor?

Hiring an external, statutory auditor is a legal requirement when your company meets certain criteria.

For an SAS, an auditor is required if:

• the SAS controls the equity of one or more companies;
• the SAS is itself controlled by one or more entities;
• if 2 of the 3 following thresholds are exceeded:

• • Turnover over €2,000,000 excluding tax
  • Balance sheet total exceeding €1,000,000
  • Average number of employees above 20.

For an SARL, the thresholds are higher. As with an SAS, if two of the following three thresholds are exceeded, a statutory audit is required:

• Turnover over €3,100,000 excluding tax
• Balance sheet total exceeding €1,550,000
• Average number of employees above 50

To learn more, click here