For companies required to be audited, the first year-end deadline falls before January: the appointment of the auditor. Here we set out the deadlines in the Spanish Companies Act (LSC) for a financial year that matches the calendar year. If you do not yet know whether your company is required to be audited, start with our guide to mandatory audits in 2026.
The auditor is appointed before the year to be audited ends
Art. 264.1 LSC provides that the general meeting appoints the auditor before the end of the financial year to be audited. The initial term may be no shorter than three years and no longer than nine, counted from the start of the first year audited. Once that term has ended, the general meeting may re-appoint the auditor for terms of up to three years. Additional Provision 4 of the Regulation implementing the Spanish Audit Act (Royal Decree 2/2021) applies the same rule to entities required to be audited because of their size, grants or public sector contracts: the appointment must in all cases be made before the end of the year to be audited.
If the 2026 financial year ends on 31/12/2026, the general meeting resolution must be adopted by that day at the latest, so October and November are the time to review the obligation and call the meeting. Nor may the general meeting remove the auditor before the end of the initial term, except for just cause (art. 264.3 LSC).
What if the general meeting does not appoint the auditor in time?
If the general meeting fails to appoint the auditor before the end of the financial year when it is required to do so, or if the appointee does not accept or cannot perform the role, the directors and any shareholder may ask the commercial registrar of the registered office to appoint one (art. 265.1 LSC). The application and appointment follow the procedure in the Companies Register Regulation. For companies with their registered office in the province, the competent register is the Alicante Companies Register.
The position is different for a company that is not required to be audited. Shareholders representing at least 5% of the share capital may ask the registrar to appoint an auditor, at the company’s expense, provided that three months have not passed since the year-end (art. 265.2 LSC). For a financial year ending on 31/12/2026, that period would end around 31/03/2027.
Prepare the accounts within three months
Within a maximum of three months from the year-end, the directors must prepare the annual accounts, the management report (which will include, where applicable, the non-financial information statement) and the proposed appropriation of profit or loss (art. 253.1 LSC). The accounts and the management report must be signed by all the directors. If a signature is missing, the reason is stated in each document (art. 253.2 LSC).
The auditor issues the report on the accounts as prepared, so it is advisable to agree a timetable that leaves some margin before the general meeting is called. In our article on the ICAC’s new developments for the 2025 and 2026 audits we review what changes in the reports for this year-end.
Approve the accounts within six months
The annual general meeting must be held within the first six months of each financial year in order, where appropriate, to approve the management of the company, the accounts for the previous year and the appropriation of profit or loss (art. 164.1 LSC). The law adds that the annual general meeting is valid even if it is called or held late (art. 164.2).
From the time the meeting is called, any shareholder may obtain, immediately and free of charge, the accounts, the management report and, where applicable, the auditor’s report, and the notice of meeting must mention this right (art. 272.2 LSC). That is why the auditor’s report must be issued before the meeting is called.
File the accounts the following month
Within the month following approval, the directors submit for filing with the Companies Register of the registered office a certificate of the resolutions approving the accounts and the appropriation of profit or loss, together with a copy of the accounts (art. 279.1 LSC). They must also submit the management report and the auditor’s report where the company is required to be audited, where the audit was ordered at the request of minority shareholders, or where it is voluntary and the appointment has been registered.
Failing to file on time has two consequences:
- Closure of the registry sheet: while the failure continues, no document relating to the company is registered with the Companies Register, with some exceptions such as the removal or resignation of directors, the revocation of powers of attorney, dissolution or entries ordered by a judicial or administrative authority (art. 282 LSC).
- Fine: following disciplinary proceedings, the ICAC may fine the company between €1,200 and €60,000. If the company or its group has annual turnover above €6,000,000, the limit rises to €300,000 for each year of delay. If the accounts are filed before the proceedings begin, the penalty is imposed at its minimum level and reduced by half. The infringement becomes time-barred after three years (art. 283 LSC).
Calendar for a financial year that matches the calendar year
| Obligation | Provision | Legal deadline | Indicative date (2026 financial year) |
|---|---|---|---|
| Appointment of the auditor by the general meeting | Art. 264.1 LSC; Additional Provision 4 RLAC | Before the end of the year to be audited | Before 31/12/2026 |
| Request for an auditor by minority shareholders (companies not required to be audited) | Art. 265.2 LSC | Three months from the year-end | By 31/03/2027 |
| Preparation of the accounts and management report | Art. 253.1 LSC | Three months from the year-end | By 31/03/2027 |
| Annual general meeting | Art. 164.1 LSC | First six months of the financial year | By 30/06/2027 |
| Filing with the Companies Register | Art. 279.1 LSC | Month following approval | By 30/07/2027 if the meeting is held on 30/06/2027 |
The dates in the last column are an indicative calculation. If a deadline falls on a non-working day, or if your financial year does not match the calendar year, check how the period is calculated with your adviser. Cooperatives, foundations and other entities have their own rules, which may set different deadlines.
A checklist for October
- Using provisional figures, work out whether the company exceeds the size thresholds or receives public grants or contracts worth more than €600,000.
- Check whether the current auditor appointment covers the 2026 financial year or needs to be renewed.
- If an auditor must be appointed or re-appointed, call the general meeting in good time to adopt the resolution before 31/12/2026.
- Agree with the auditor the dates for the stock count, confirmation requests and delivery of the prepared accounts.
The bill that sought to raise the audit thresholds lapsed on 06/10/2026 when the Cortes Generales (Spanish Parliament) were dissolved, without being passed, as we explain in our article on the new audit thresholds. Plan 2026 using the thresholds in force under art. 263.2 LSC: total assets of €2,850,000, net turnover of €5,700,000 and 50 employees.
Frequently asked questions
Can I prepare the accounts after the deadline?
The three-month deadline is binding on the directors (art. 253.1 LSC). Preparing the accounts late does not prevent their approval, because the general meeting is valid even if held late (art. 164.2), but it delays the whole calendar, including filing.
What happens if I do not file the accounts?
The company’s registry sheet is closed (art. 282 LSC) and the ICAC may impose a fine of €1,200 to €60,000, or of up to €300,000 per year of delay if turnover exceeds €6,000,000 (art. 283 LSC).
When should I engage the auditor?
The appointment by the general meeting must be made before the end of the financial year to be audited. Doing so early makes it possible to plan the work, for example attendance at the year-end stock count.
Official sources
- Spanish Companies Act, consolidated text (BOE): arts. 164, 253, 264, 265, 272, 279, 282 and 283
- Royal Decree 2/2021, Regulation implementing the Spanish Audit Act (BOE): Additional Provision 4
- Law 22/2015, Spanish Audit Act, consolidated text (BOE)
- Royal Decree 806/2026 of 5 October dissolving the Cortes Generales and calling elections (BOE-A-2026-20742)
If you need to appoint an auditor for the 2026 financial year, there is still time to do so before the year-end. Find out about our audit of annual accounts service and, if you need help preparing the accounts, our preparation of annual accounts service. We work with companies throughout the province from our office, as we explain on auditors in Alicante. Contact us and we will help you organise your calendar.
To prepare for the year-end and the auditor’s visit step by step, see also how to plan the 2026 audit.
Article prepared by Controlaudit’s technical team. Updated 08/10/2026. This content is for information only and does not replace professional advice on your specific case.