Comptabilitat a Espanya

Accounting Rules

Tax Year

Calendar year, but can be otherwise established. Must not exceed 12 months.

Accounting Standards

Financial statements must be prepared in accordance with IFRS Standards. Accounting in Spain is based on the General Accounting Plan (in full compliance with IFRS).

Accounting Regulation Bodies

ICAC

Accounting Reports

The annual accounts consist of the balance sheet, income statement, (cuenta de perdidas y ganancias), statement of changes in net assets, cash flow statement and the schedule (memoria). Summary annual accounts can be used under certain conditions of amount and staff for the SME and micro-enterprises.

Under Spanish law, if two of the following requirements are met in two consecutive years, the company may avoid audit of its annual accounts: total assets are less than EUR 2.85 million; annual turnover is less than EUR 5.7 million; and the workforce comprises fewer than 50 employees.

Publication Requirements

The publication of accounts to regulatory authorities is annual and compulsory. The directors of a company have a three-month period after the close of the fiscal year to prepare the accounts.

Professional Accountancy Bodies

ICJCE , Institute of Certified Public Accountants of Spain
AECE , Professional Association of Certified Public Accountants and Certified Tax Experts of Spain
AECA , Spanish Association of Company Accounting and Administration

Certification and Auditing

Companies have to seek a statutory auditor to conduct an annual audit of the financial health of their organisation. You can consult the Group of Public Auditors of Spain

Accounting News