A statutory audit becomes mandatory when a company exceeds, in two consecutive financial years, two of three thresholds. What follows explains what that means in practice for the 2026 financial year, and who should be checking now rather than in the spring.
The three thresholds
The obligation is triggered by exceeding two of the following values, in two consecutive financial years:
- total assets of 16,000,000 lei
- net turnover of 32,000,000 lei
- an average of 50 employees
The two consecutive years condition is the one that catches people out most often. A company that exceeded the thresholds in a single year is not caught, but if it exceeds them again the following year, the obligation applies to that second financial year.
Who is caught for the first time
In practice, companies that have grown quickly over the past two years are the ones that find out late that the obligation now applies to them. Our advice is simple: check your last two sets of accounts now, not in the month you file.
Separately from the thresholds, the obligation applies in any case to public interest entities and to beneficiaries of certain grant funding, regardless of company size. With grant funding, the requirement comes from the funding contract, not from accounting law.
What to prepare
An audit engagement for a small or medium company takes between two and six weeks from receipt of the trial balance and supporting documents. The timeline depends more on the state of the accounting records than on the size of the company.
- the trial balance and the financial statements
- the journal and inventory registers
- significant contracts and stocktaking documents
- the group structure, if there are related-party transactions
What we do
If you are not sure where you stand, send us your last two sets of accounts and we will tell you the same day whether the obligation applies. If it does, you get a firm quote within 24 hours, with the fee, the timetable and the exact list of documents.