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
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