Companies in Bulgaria that meet the following requirements listed in Chapter Five of the Accountancy Act are subject to independent financial audit:
- Small companies which until 31 December of the current reporting period exceed at least two of the following criteria:
- book value of the assets – 2 000 000 BGN/lv.;
- net sales income – 4 000 000 BGN;
- average number of employees for the reporting period – 50 people;
- Medium and Big companies;
- Public Interest Companies;
- Medium and big groups and groups in which there is at least on public interest company;
- Companies for which this requirement is established via law.
- Joint-stock companies and limited partnerships with shares, except when the companies have not made activities throughout the reporting period.
- Consolidated financial reports and annual financial reports of the companies included in the consolidation.
- Legal entities with non-profit goal that are entitled to do community service if for the current year they exceed one of the following criteria:
- book value of the assets until 31 December – 1 000 000 BGN;
- net income from economic and non-economic activities for the current year – 2 000 000 BGN;
- total sum of the received fundings during the current year and fundings, unutilized until 31 Decemeber of the current year, received during previous accounting periods – 1 000 000 BGN
- Annual financial reports of legal entities with non-profit goal entitled to do community service and perfoming activities according to Article 116 of the Family Code.
The Independent Financial Audit is being implemented by a public accountant – the auditor. The audit can be made throughout the year or once a year before publishing the reports in the Commercial Register. Reports, certified by a registered auditor, bring about higher levels of trust. The audit provides reliable information for verification by an independent expert, the accuracy of the reports is confirmed and the truthfulness of the information is proven.
The auditing services which we offer are:
- audit of individual financial report, devised according to national or international accounting standards;
- audit of consolidated financial report, devised according to national or international accounting standards;
- audit of projects, financed by national and international programs;
- engagements for carrying out agreed procedures;
- internal audit.