Legislative status at the date of this update. We have reviewed the consolidated text of Legislative Decree 2/2015 published on BOE.es, last updated on 10 August 2026. Law 5/2025 of 30 May on fiscal, administrative and financial management measures and on the organisation of the Generalitat amended numerous articles of the cooperatives act but, according to that consolidated text, did not amend Article 50 or paragraph 13 of Article 91, which govern the audit cases.
Cooperatives in the province of Alicante
Cooperatives are an important part of the Alicante economy, especially in the agri-food sector of the Vega Baja (Orihuela, Callosa de Segura, Almoradí, Pilar de la Horadada) and in L’Alacantí, and increasingly in housing, including co-housing models. They have their own regime: Valencian legislation governs their bodies, accounting and audit, and partly refers to commercial and audit legislation.
When must a Valencian cooperative be audited?
Article 50.1 of Legislative Decree 2/2015 requires the annual accounts and the management report to be submitted to an external audit in four cases:
| Case | Provision | Comments |
|---|---|---|
| When required by the Spanish Audit Act and its implementing rules | Article 50.1.a) | Refers to the general cases in Law 22/2015 and its implementing regulation (Royal Decree 2/2021) |
| When the cooperative has set up a credit section | Article 50.1.b) | Regardless of its size |
| At the request of at least 10% of the members or 50 of them, addressed to the Cooperatives Register | Article 50.1.c) | Must be requested within three months of the year-end; the costs are borne by the applicants, who may recover them from the directors if there are serious defects or irregularities |
| When the articles of association provide for it or the general assembly, the directors or the management supervisory committee so resolve | Article 50.1.d) | Audit required by the articles of association or voluntary audit |
| Housing cooperatives with a development under way | Article 91.13 | Additional cases, explained below |
| Federations of cooperatives | Article 106.3 | Mandatory external audit |
The cross-reference in paragraph a) is the one that raises most questions. Valencian law does not set its own thresholds: it relies on audit legislation. This includes, among others, the size criterion that the audit regulation links to the limits in Article 263.2 of the Spanish Companies Act, and the cases of grants or public aid and of public sector contracts of more than €600,000. We explain these general cases in our guide to mandatory audits and their thresholds in 2026. How these criteria apply to a specific cooperative, for example when calculating its net turnover, must be analysed case by case.
Practical consequences of the obligation
- Appointment. Appointing and removing the statutory auditors is the exclusive and non-delegable competence of the general assembly (Article 31.1.a).
- Legal adviser. Cooperatives required to be audited must appoint, by resolution of the governing council (consejo rector), a person to act as legal adviser (Article 51).
- Deadlines. The governing council prepares the accounts and the management report within four months of the year-end and makes them available to the auditor (Article 63.4). The accounts, the management report and the audit report are filed with the Cooperatives Register within one month of their approval (Article 63.8).
- Closure of the registry sheet. If one year passes from the year-end without the approved accounts having been filed, the Register will not record any new documents, subject to exceptions (Article 63.9).
- Penalties. Failing to appoint auditors and to submit the financial statements and the management report for their verification within the legal deadlines is classified as a very serious infringement (Article 117.4.c).
Housing cooperatives: transparent accounts for each development
Housing cooperatives handle the contributions of many families over several years, and the law tightens control while the development lasts. Article 91.13 provides that they must have their accounts audited in the cases generally provided for and, in addition, until the dwellings or premises have been allocated or transferred to the members, in the financial years in which any of the following circumstances applies:
- The cooperative has more than fifty dwellings and commercial premises under development.
- Whatever their number, they belong to different phases or developments.
- The cooperative has granted business management powers to individuals or legal entities that are not members of the governing council.
The third case is common when the cooperative works with a professional management company. In addition, cooperatives carrying out more than one phase or development must set up a section for each one (Article 91.9), which requires accounting records showing the income, costs and contributions of each development. This separation allows members to know how their money has been spent.
Agri-food cooperatives: accounting specificities
Cooperatives must keep accounts in accordance with the Spanish Commercial Code and the Spanish General Accounting Plan, respecting the specific features of their economic regime (Article 63.2). These specific features are set out in Order EHA/3360/2010 of 21 December approving the rules on the accounting aspects of cooperative societies. In practice, the areas that usually require most attention in an agri-food cooperative are:
- The classification of share capital as equity or as a liability, depending on the conditions for redemption.
- The mandatory reserve (Article 70) and the cooperative education and promotion fund (Article 72).
- Transactions with members, in particular the valuation of produce deliveries and their settlement.
- The separation of results from cooperative and non-cooperative activities.
- Agricultural and EU-funded grants, which may on their own trigger the obligation to have an audit.
If your cooperative needs support in preparing accounts that comply with these rules, see our annual accounts preparation service.
What changed with Law 5/2025
Law 5/2025 (BOE-A-2025-11959) amended various articles of Legislative Decree 2/2015 with effect from 1 June 2025. According to the notes to the consolidated text, the changes include:
- Paragraphs 3 and 14 of Article 91 (purpose of housing cooperatives and co-housing).
- A new subparagraph in Article 63.8 (filing of accounts).
- Article 74.1 (reduction of the minimum share capital, with a balance sheet verified by the auditors).
- New rules on social initiative cooperatives.
Subsequently, Law 5/2026 of 31 July on fiscal, administrative and financial management measures and on the organisation of the Generalitat (BOE-A-2026-19331) introduced further amendments, in force since 11 August 2026. According to the consolidated text consulted, neither law changed the audit cases in Article 50 or Article 91.13.
Frequently asked questions
Can a small cooperative be required to have an audit?
Yes. A credit section, a request by a minority of members, the articles of association, the housing cooperative cases and the audit legislation cases relating to grants and public contracts do not depend on size.
Who appoints a cooperative’s auditor?
The general assembly, on an exclusive and non-delegable basis. If the audit is requested by a minority of members, the appointment is made by the Cooperatives Register.
When must a housing cooperative be audited?
In addition to the general cases, until the dwellings have been allocated or transferred, in the financial years in which it has more than fifty dwellings and commercial premises under development, several phases or developments, or has granted management powers to persons outside the governing council.
Official sources
- Legislative Decree 2/2015 of 15 May of the Consell, consolidated text of the Valencian Cooperatives Act (consolidated text on BOE.es)
- Law 5/2025 of 30 May on fiscal, administrative and financial management measures and on the organisation of the Generalitat (BOE-A-2025-11959)
- Order EHA/3360/2010 of 21 December, rules on the accounting aspects of cooperative societies
- Royal Decree 2/2021, Regulation implementing the Spanish Audit Act
If your cooperative needs an annual accounts audit or wants to know whether it is required to have one, contact our team. We work from Alicante with entities throughout the province; find out more about us on our auditors in Alicante and auditors in Valencia pages. If your entity deals with town councils, you may also be interested in our article on financial control in town councils and the involvement of private auditors.
If your cooperative has its registered office in another region, different legislation applies: the Region of Murcia has its own cooperatives act, as does Castilla-La Mancha. We explain this on our auditors in Murcia and auditors in Albacete pages.
Article prepared by Controlaudit’s technical team. Updated on 8 October 2026. This content is for information purposes only and is not a substitute for professional advice on your specific case.