Does a BV need an auditor?
Short answer
A BV only has to engage an auditor if it is medium-sized or large: an audit report on the annual accounts is then mandatory. That applies if the BV meets two of three criteria for two consecutive years: more than €7.5 million in assets, more than €15 million in turnover, or 50 or more employees. Micro and small BVs can make do with an accountant who prepares the accounts.
Reviewed by Petter CreemersTax adviserEvery BV must prepare and file annual accounts. A bookkeeper or accountant may prepare them. An auditor with an audit report is only legally required from the medium-sized class upwards.
| Class | Assets | Net turnover | Employees | Audit |
|---|---|---|---|---|
| Micro | < €450,000 | < €900,000 | < 10 | Not required |
| Small | up to €7.5m | up to €15m | 10 to 50 | Not required |
| Medium | up to €25m | up to €50m | 50 to 250 | Required |
| Large | > €25m | > €50m | > 250 | Required |
When you may still want an auditor
Even without an obligation, an audit or review report can be useful, for example if a bank, investor or buyer of your business asks for one. It does cost more than annual accounts compiled by an accountant.
What we do
We prepare your BV's annual accounts, file them with the KvK and take care of the corporate income tax return. If your BV grows towards medium-sized, we tell you in good time.
Sources
This answer is general information, not personal advice. Your own situation may work out differently, so feel free to ask our team.