What is revisionspligt (audit requirement)?

In short

Revisionspligt is the duty to have the annual report audited by an approved auditor. Small companies can opt out if they stay under two of three limits for two consecutive years: DKK 8 million in revenue, DKK 4 million in balance sheet total and 12 employees.

In practice

Opting out is decided at a general meeting and must be stated in the annual report. Sole proprietorships are never subject to audit. Remember that audit only concerns the annual report — bookkeeping, VAT and tax still need to be in order for every business.

Go deeper: What does an accountant (revisor) cost for a small business?

Related terms

• Revision (audit)
• Revisor (auditor)
• Årsrapport (annual report)
• See every term in the dictionary

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