Annual report for companies with audit exemption
Unaudited Annual Report
Since 2006 small businesses have been able to opt out of the audited annual report. Opting out of an audit can only be done when incorporating a company or at an annual general meet-ing with future effect. As the owner you must still prepare and submit an annual report to the Danish Business Authority. Vistas Revisor can help you prepare an annual report in keeping with the Financial Statements Act. For the mandatory audit we can put you in touch with our partner company.
Requirements for companies opting out of an audit
Your company may opt out of an audit if, for two financial years in a row, two of the following criteria are not exceeded on the reporting date:
- assets of DKK 4 million
- net turnover of DKK 8 million and
- average number of full-time employees of 12 during the year
As mentioned earlier, companies can also opt out of an audit at incorporation.