As of December 2025
For many companies, auditing financial statements is not a matter of choice, but a statutory obligation. In practice, however, doubts persist as to who exactly is covered by this obligation, what its consequences are, and why selecting a competent auditor is crucial not only from a formal perspective but also from a business and management perspective.
Who is subject to the obligation to audit financial statements?
The obligation to audit financial statements arises from the Accounting Act and applies to certain entities that meet the statutory criteria for the scale of operations or type of activity conducted.
Capital companies and other entities
The following are subject to examination:
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limited liability companies,
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joint-stock companies,
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simple joint-stock companies,
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limited joint-stock partnerships,
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other units, if required by specific regulations or agreements.
In the case of capital companies, financial criteria are of key importance, not the legal form itself.
Statutory thresholds – when is testing mandatory?
The financial statements are subject to mandatory audit if, in the previous financial year, the entity met at least two of the three following conditions :
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the total balance sheet assets at the end of the financial year exceeded the equivalent of EUR 2.5 million ,
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net revenues from the sale of goods and products for the financial year exceeded the equivalent of EUR 5 million (which in practice means approximately PLN 30 million),
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average annual employment was at least 50 people .
In practice, this means that many medium and large limited liability companies are automatically subject to the audit requirement, even if they do not perceive themselves as a “large enterprise”.
Why is auditing financial statements important?
Auditing financial statements is not merely a formality required to approve documents. Its importance extends far beyond the procedure itself.
From the point of view of the company and its management, the study:
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confirms the reliability and correctness of the financial statements,
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increases the company's credibility towards banks, investors and contractors,
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reduces the risk of accounting and tax errors,
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is an element of securing the management's liability.
In the reality of increasing digitization and automation of tax audits, financial statements are increasingly becoming the starting point for further analyses by administrative bodies.
Why is the choice of auditor important?
Although the regulations clearly define the obligation to audit, the quality of the audit depends directly on the competence and experience of the auditor .
Research is not just an “opinion”
A competent auditor does more than simply issue an opinion at the end of the process. In practice:
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identifies areas of increased risk,
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draws attention to systemic errors in accounting,
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signals tax and organizational threats,
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helps to organize reporting processes in the company.
A lower quality test may meet the formal requirement, but it does not provide real value or security.
Importance for management and accountability
The Management Board is responsible for the accuracy of the financial statements. The selection of an auditor therefore has a direct impact on:
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personal safety of management board members,
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preparing the company for possible inspections,
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quality of communication with financing institutions,
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reliability of data presented to owners.
A well-conducted investigation can detect problems at an early stage, before they become a matter of dispute with the authorities or a source of liability.
What should you pay attention to when choosing a statutory auditor?
In practice, it is worth paying attention not only to the price of the service, but above all to:
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experience in working with companies of a similar scale and business profile,
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knowledge of current tax and accounting regulations,
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method of communication with the management and finance department,
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approach to risk and documentation quality,
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timeliness and organization of the research process.
The audit of financial statements is a process that engages the company for several months – it is important that it is conducted efficiently and substantively.
Summary
As of the end of 2026, the obligation to audit financial statements applies to a large group of companies, particularly limited liability companies exceeding statutory financial thresholds. Audits should not be treated merely as a formality, but as an element of the financial and management security system.
Selecting a competent auditor is crucial for audit quality, management security, and the company's credibility in the market. In practice, this decision impacts not only the financial statements but also the functioning of the entire organization.