Royal Decree 424/2017 allows a local authority, on the comptroller’s proposal, to engage private audit firms to assist with public audits. We explain art. 34, its time limits and incompatibilities, the types of public audit and how it fits into the annual financial control plan.
National and Valencian foundations have different audit cases: Law 8/1998 adds four circumstances to the €2,400,000 and 50-employee limits of Law 50/2002. We also look at the audit of associations declared of public utility, the RLAC case of grants of more than €600,000 and the accounting plan for non-profit entities.
Valencian cooperatives legislation requires an audit when audit legislation requires it, when there is a credit section, at the request of a minority of members or under the articles of association. Housing cooperatives have their own cases while the development lasts. We review deadlines, filing, accounting specificities and the changes made by Law 5/2025.
Write to us and one of the firm’s auditors will reply.
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