Publication

9 April 2020

Audit exemption thresholds in Europe 2020 update

Following the 2013 Accounting Directive, small European Union (EU) companies are no longer required to have a statutory audit. However, the EU legislation allows Member States to impose an audit on their small companies based on their specific circumstances.

This publication follows up on our 2016 factsheet and presents the current audit exemption thresholds in Europe and how several countries have recently amended them.

Our survey results show that four EU countries have lowered their audit exemption thresholds while four countries have increased them between 2016 and 2020. Overall, there was no clear upward or downward trend in the development of the thresholds in this period. We also found diverging national policies and views on auditing smaller entities.

 

Related content

In the mediaEvolution of SME audit in Europe from the perspective of the legislation and auditing standards

10 April 2019

PublicationAudit exemption thresholds in Europe

23 May 2016

EventSmall in size, big in impact: Can NFI work for SMEs?

19 November 2020

UpdateAudit Policy

23 October 2020

BlogReliable non-financial information to progress sustainable finance

21 October 2020

EventMembers’ Webinar Series

21 October 2020

UpdateSustainable Finance

16 October 2020

Podcast SMEs: What’s next?

16 October 2020

Consultation responseEC’s public consultation on the Energy Tax Directive

15 October 2020

EventImplementing ESEF

12 October 2020

UpdateTax Policy

9 October 2020

NewsAccountancy Europe welcomes EU sustainable corporate governance initiative

8 October 2020

Consultation responseEC roadmap on sustainable corporate governance

8 October 2020

Consultation responseEC’s consultation on the establishment of an EU Green Bond Standard. 

5 October 2020

Podcast Accountants & the fight against financial crime (Part 2)

2 October 2020

UpdateTax Policy

25 September 2020

UpdateSME Update

24 September 2020

NewsEUIPO and Accountancy Europe join to support SMEs

24 September 2020

NewsAccountancy Europe welcomes cooperation by sustainability reporting bodies

23 September 2020

UpdateAudit Policy

21 September 2020

Consultation responseEC’s roadmap on obligation for companies to publish non-financial information

18 September 2020

Podcast The EU & the fight against financial crime (Part 1)

18 September 2020

Sign up for our newsletter

* indicates required
Would you like to subscribe to our newsletter?
On which topics would you like to receive news?