With the New Accounting Principles (Plan General de Contabilidad), effective from January 2008, your company might possess two of the following characteristics:

Your asset volume exceeds 2.850.000 Euros.

Your annual turnover is around 5.700.000 Euros.

You have an average workforce of over 50 employees.

IIn this case, you must carry out a statutory audit of your accounts in order to comply with current legislation.

For this to be applied, your company must possess the above characteristics for two consecutive tax years.