Accountancy in Spain

>> Audit Requirements in Spain

Accounting is regulated in Spain by the General Accounting Plan of 2008.

It is required to keep the necessary accounting records which must include  at least the following statutory accounting books:

  • Journal (“Libro Diario”)
  • Trial balances book (“Libro de Inventario y Cuentas Anuales”) Annual accounts.

The statutory books must be duly stamped in the Commercial Register and the company must keep these records together with related business documents for at least six years from the date of the last entry.

Auditing is obligatory for all companies which for two consecutive years fulfil at least two of the following conditions:

  • Net Annual sales above €5,700,000.00
  • Total assets above €2,850,000.00
  • Average number of employees above 50

Auditing is also obligatory for companies which, although not exceeding the abovementioned figures, fulfil certain conditions: for example, companies quoted on the Stock Exchange, finance and credit companies; recipients of official subsidies; life insurance companies, etc.

Filing requirements

All commercial firms must deposit in the Commercial Register their annual accounts once a year, and the Directors’ Report. In this way, information about the accounts of all companies is at the disposal of the public.

The auditors’ report must be deposited in the Mercantile Registry together with the annual accounts.


Latest version updated 11th October 2017

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