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

EventEarly Warning Europe SME summit

30 September 2021

EventDigitalisation & SMEs

16 June 2021

EventFrom risks to resilience: benefits of intellectual property for your business

4 May 2021

EventFuture-proofing tax: make it green, digital, fair

15 April 2021

UpdateAudit Policy

14 April 2021

PublicationAudit exemption thresholds in Europe

9 April 2021

PublicationRoad to digital: what are the obstacles for SMEs and SMPs?

8 April 2021

NewsAccountancy Europe supports new EU plan to improve SMEs’ access to finance

26 March 2021

NewsFraud and going concern: Restoring public trust in the financial reporting ecosystem

24 March 2021

PodcastAccountants are the key for SME IP

19 March 2021

EventBridging expectations: what NFI from SMEs?

18 March 2021

InterviewRemoving barriers to support SMEs: the CMU initiative

11 March 2021

NewsSMEs count on us

11 March 2021

Consultation responseEC’s Consultation on a European Single Access Point (ESAP) for financial and non-financial information

8 March 2021

PodcastGet your seat at the top table

5 March 2021

UpdateAudit Policy

5 March 2021

NewsBecause green recovery counts

4 March 2021

UpdateSME Update

2 March 2021

EventIntellectual Property for SMEs: What role for accountants?

24 February 2021

PublicationGoing concern: recommendations to strengthen the financial reporting ecosystem

3 February 2021

Sign up for our newsletter

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