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Appointing an auditor

When does the obligation to appoint an auditor arise?

Size of the company

The Accounting Act requires companies to appoint an auditor when they exceed size limits in terms of balance sheet total, turnover or equivalent revenue, and number of personnel. The statutory size limits can be found here.

Form of the company

Limited liability companies must appoint an auditor when they exceed statutory size limits or if the Articles of Association of the company require it. Learn more about the audit of limited liability companies here.

Foundations must always appoint an auditor regardless of whether they exceed the statutory size limits or not. Find out more about the audit of foundations here.

The obligation of an association to appoint an auditor arises based on the size limits in the Accounting Act, similarly to a limited liability company. However, an association must appoint an auditor of operations, if it is not obliged to appoint an auditor of accounts. The rules of an association may include a provision on the appointment of an auditor. In this case the obligation to appoint an auditor arises even if the size limits are not exceeded. You can read more about the audit of associations here.

Why Tuokko?

Our team at Tuokko has years of experience in providing audit services and helping businesses meet their obligations under the law. We are committed to delivering high-quality audit services that provide transparency and accuracy in financial reporting. Our team is composed of highly skilled professionals, Authorized Public Accountants (HT, KHT and JHT auditors), who are familiar with the latest regulations and requirements of audit services.

Having Tuokko as your auditor, you can rely on our team to provide efficient and reliable service. We understand that each business has unique needs and challenges which is why we tailor our audit services to suit the specific requirements of each client. Our goal is to make the audit process as smooth as possible, while ensuring compliance with all applicable regulations.