Statutory Audit / Financial Audit
Businesses are part of an increasingly transparent environment in which potential users of the information – State and Public entities, banking, investors, shareholders, creditors, clients (decision makers that rely on that information in their decision-making process) – seek reliable information.
These users need to have confidence that the information provided by a company is credible: that it was prepared and presented objectively and in a truthful way.
The opinion of the Auditor – with public disclosure and as a result of an independent review – helps to enhance the credibility of financial statements.
Statutory Audit | Examinations related to companies or other entities accounts are defined by Statutory audit, when due to legal provision being applicable to all Portuguese Corporations (SA) and other companies (notably Limited Liability Companies) which exceed, in 2 consecutive years, 2 of the 3 limits foreseen by nr. 2 of article 262 of the Commercial Companies Code:
a) Total Assets: 1.500.000 €;
b) Total Net sales and other income: 3.000.000 €;
c) Average number of employees during the year: 50.
Financial Audit | Examinations related to accounts of companies or other entities are defined by Audit of accounts, when due to statutory or contractual provision (not mandatory under the general law, as in the case of Statutory audit), and are also of the exclusive competence of Statutory Auditors.
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