Accountancy Europe has published an analysis of the changes to audit exemption thresholds for small companies across 32 European countries.
In 2023, the EU Accounting Directive was amended, increasing the financial thresholds (balance sheet total and net turnover) for companies subject to statutory audit requirements by 25%.
Accountancy Europe found that 12 countries applied the full 25% threshold increase introduced by the amendments to the EU Directive.
A further nine increased their thresholds by the more than 25%, while 10 did not revise their thresholds, and Cyprus chose to maintain its thresholds while introducing a review option for small entities.