Audit

• voluntary audit for any company or mandatory audit for companies, in whose annual financial statements at least two of the indicators exceed the following values:
• Revenue more than 12 000 000 EUR
• Total assets as at balance sheet date: 6 000 000 EUR
• Average number of employees – 180
• or at least one of the indicators exceeds the following value:
• Revenue more than 4 000 000 EUR
• Total assets as at balance sheet date: 2 000 000 EUR
• Average number of employees – 50

independent auditor’s report stating whether the financial statements fairly present the company’s financial position and the results of its operations
audit is performed in accordance with the Estonian Financial Reporting Standards or International Financial Reporting Standards

The timing of an audit is to be agreed between an audit firm and the client, depending on the size of the company and on the complexity of its transactions. The deadline for a mandatory audit of an annual report is 6 months after the end of the company’s financial year.