According to the Polish Accounting Act, the annual consolidated financial statements of capital groups, as well as the annual financial statements of the entities which carry on their own business activity, must be audited if the entity is:
a bank, an insurance agency and a reinsurance agency,
a savings and loans co-operative society,
an entity which operates in accordance with regulations regarding trading in securities and operations of trust funds,
an entity which operates in accordance with regulations regarding organization and operation of pension funds,
a joint-stock company (except for companies in organization on the balance sheet day),
any other entity in which, during the previous financial year, at least two of the three following conditions are met:
an average of 50 full-time employees,
total assets of the balance sheet at the end of the financial year equivalent to EURO 2 500 000 (in Polish zloty),
net revenues from sales of goods and products and financial operations for the financial year equivalent to EURO 5 000 000 (in Polish zloty) or more.
Latest version updated 24th January 2018
About the Author
Audyt i Doradztwo Pawlik, Modzelewski i Wspólnicy sp. z o.o. and IC & Partners Poland S.A.