We prepare individual and consolidated annual accounts, the notes and the management report with an auditor’s technical judgement, for companies whose accounts we do not audit.
Reviewed by Controlaudit's audit team · Firm registered with the ROAC under no. S1604 · Updated 13 October 2026
We offer a specialist service for the full preparation of annual accounts, both individual and consolidated. It is aimed at companies that lack sufficient technical resources or want to improve the quality of their financial information. As required by the Spanish Audit Act, we only provide it when we have not been appointed as the entity's auditors.
We do not simply generate financial statements with a software package. First we carry out a critical analysis of the accounting records: we review the accounting policies, the consistency between statements and their compliance with company law and sector regulations. We then prepare all the required documents, with complete notes adapted to the company's actual activity. These notes include the mandatory disclosures and the average supplier payment period, calculated in accordance with the ICAC Resolution of 29/01/2016. Where applicable, we also prepare the management report and the proposed appropriation of profit or loss.
This service is particularly useful for companies whose accounts are prepared by a tax adviser without an in-depth technical review. The result is sound, tailored and defensible accounts, ready for filing with the Companies Register (Registro Mercantil). Responsibility for preparing them remains with the directors, all of whom must sign them (art. 253.2 LSC). We provide them with a technically correct and fully explained document.
The content of the accounts is laid down in the consolidated text of the Spanish Companies Act (arts. 253 to 262), the Spanish Commercial Code and the accounting plans: the PGC (Royal Decree 1514/2007) and the PGC for SMEs (Royal Decree 1515/2007), amended by Royal Decree 1/2021. Consolidated accounts are governed by the Rules for the Preparation of Consolidated Annual Accounts (Royal Decree 1159/2010).
Deadlines for a financial year that coincides with the calendar year:
Independence. Art. 16.1.b).1.º of the Spanish Audit Act (Law 22/2015) makes it incompatible for the auditor to provide the audited entity with accounting services or to prepare its financial statements. Art. 47 of the RLAC also covers assisting or participating in their preparation, whether or not the entity assumes responsibility for them. The incompatibility applies from the start of the audited financial year until the audit work is completed (art. 21.1 LAC). That is why, before accepting the engagement, we check that we are not, and will not be, your auditors during that period.
| Situation | Rule | What it means |
|---|---|---|
| Abridged balance sheet and statement of changes in equity | Art. 257 LSC | For two years, two of three: total assets ≤ €4,000,000, turnover ≤ €8,000,000, average workforce ≤ 50. The statement of cash flows is not mandatory |
| Abridged profit and loss account | Art. 258 LSC | For two years, two of three: total assets ≤ €11,400,000, turnover ≤ €22,800,000, average workforce ≤ 250 |
| Management report | Art. 262 LSC | Not mandatory if an abridged balance sheet is prepared. Companies that cannot present an abridged profit and loss account must disclose the average payment period in it |
| Application of the PGC for SMEs | Art. 2 Royal Decree 1515/2007 | Same thresholds as the abridged balance sheet: €4,000,000 / €8,000,000 / 50 |
| Specific criteria for micro-entities | Art. 4 Royal Decree 1515/2007 | For two years, two of three: total assets ≤ €1,000,000, turnover ≤ €2,000,000, average workforce ≤ 10 |
| Consolidated accounts | Arts. 42 and 43 Commercial Code; Royal Decree 1159/2010 | Obligation of the parent company. Exemption if the group does not exceed two of the thresholds for the abridged profit and loss account, unless it includes public interest entities |
| Average supplier payment period | ICAC Resolution of 29/01/2016 | Mandatory disclosure in the notes, with a different methodology for the standard format and for the abridged or SME format |
We review the trial balance and the policies applied: depreciation and amortisation, impairment, provisions, accruals, income tax and classification of debt. We propose in writing the adjustments and reclassifications the company should record.
We prepare the balance sheet, the profit and loss account, the statement of changes in equity and, where mandatory, the statement of cash flows, in the standard, abridged or SME format as appropriate.
We draft all the required notes, adapted to the business: related parties, directors' remuneration, average workforce, subsequent events and average payment period, among others.
We prepare the management report where it is mandatory or advisable, with the information required by art. 262 LSC, together with the proposed appropriation of profit or loss.
We analyse the scope of consolidation, carry out the uniformity adjustments and eliminations and draft the consolidated notes in accordance with Royal Decree 1159/2010.
We provide the documentation in good order so that the directors can prepare and sign the accounts, and for filing with the Companies Register using the official forms.
We confirm that we are not, and will not be, the entity's auditors during the relevant period and sign the engagement. Ideally before the financial year-end.
We receive the closed accounting records and supporting documentation. Ideally within four weeks of the year-end.
We analyse the accounting policies and propose adjustments and reclassifications. The company decides and records them. This usually takes two to three weeks.
We prepare the financial statements, the notes and, where applicable, the management report, and reconcile them with the final accounting records.
We explain the figures and the notes to the directors so that they can prepare and sign the accounts before the end of the third month after the year-end.
We help with the documentation for the ordinary general meeting and for filing within the month following approval.
Because the law prohibits it in order to protect the auditor’s independence: art. 16.1.b).1.º LAC considers it incompatible to prepare the accounting records or financial statements of the audited entity. An auditor cannot give an opinion on accounts they have prepared themselves. If we are your auditors, we will help you interpret the regulations during the audit, but the accounts must be prepared by someone else.
The directors. They are the ones who prepare the accounts within three months of the year-end, and all of them must sign; if a signature is missing, the reason must be stated (art. 253 LSC). We provide the technical work and explain every figure and every note so that they can prepare and sign the accounts with full knowledge.
It depends on your total assets, turnover and average workforce over two consecutive financial years. With up to €4,000,000 in total assets, €8,000,000 in turnover and 50 employees (two of the three), you can use the abridged balance sheet and the PGC for SMEs. The abridged profit and loss account can be used up to €11,400,000, €22,800,000 and 250 employees (arts. 257 and 258 of the Spanish Companies Act, LSC). We check this at the start of the engagement.
Only if the incompatibility period is respected: we must not have prepared your accounts or records from the start of the financial year being audited until the audit is completed (art. 21.1 LAC). If you are considering appointing us as auditors, it is best to discuss it before we start, so that we can analyse your specific case.
Yes. It is a mandatory disclosure, and we calculate it using the methodology in the ICAC Resolution of 29/01/2016, which differs for the standard format and for the abridged or SME format. If the company cannot present an abridged profit and loss account, it must also disclose it in the management report (art. 262.1 LSC).
The service consists of preparing the annual accounts from the accounting records kept by the company or its adviser. We review those records and propose the necessary adjustments, and the company decides and records them. If you need another kind of support, please ask us and we will consider your case.
The Companies Register closes the company’s registry sheet: it will not register the company’s documents, with some exceptions, for as long as the failure continues (art. 282 LSC). In addition, the ICAC may impose a fine of €1,200 to €60,000 (art. 283 LSC).
Legislation cited on this page, linked to its official text (in Spanish):
General information updated as at 13/10/2026. It does not replace an analysis of your specific case.
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We audit financial statements to the highest standards of quality and professional rigour.
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