Many entrepreneurs think that an accountant is necessary, but often a trust company and/or a book-keeper is sufficient and much cheaper A Public Limited Company requires an accountant when the company fits the criteria for a middle or large business. The duty to check starts in the second year if a PLC company fits 2 out of 3 criteria for a (middle) large business.
The 3 criteria are:
- Value of assets is more than € 6 million.
- Sales is more than € 12 million.
- Personnel : at least 50 persons.
The largest misunderstanding is that an accountant is always obliged to an annual financial audit of a corporation (PLC, Ltd, or foreign partnership such as Ltd). This is by no means the case.
Our office can arrange an audit report if required or wished. Our reporting complements seamlessly that of an accountant firm resulting in a reduction of unnecessary handlings and therefore lower costs
The most important subjects of an audit certificate
- Statement of the responsibility of the board of directors of the company for drawing up the financial reports.
- Statement of the responsibility of the accountant for audit of the financial report
- Verdict of the accountant: approval, disapproval, abstinence of a verdict, or a verdict with limitations.