Appointing an auditor for an association
An auditor appointed for an association must be a KHT or HT auditor or auditing firm. A small association may appoint a performance auditor instead of an auditor.
A performance auditor may be appointed if the association met no more than one of the following conditions in the previous financial year and the one immediately preceding it:
- The balance sheet total came to more than EUR 100,000
- Net sales or comparable revenues were more than EUR 200,000
- The average number of employees was greater than three.
The Auditing Act was amended with regard to associations on 1 September 2010. Before the amendment, associations were allowed to include an option to choose between an auditor and a performance auditor in their rules. However, regardless of their rules, associations must appoint a KHT or HT auditor if they meet the conditions specified above.
If the rules of a small association were prepared before 1 September 2010, the association may appoint either an authorised public accountant (KHT or HT) or a performance auditor. Furthermore, if the rules of a small association were prepared before 1 September 2010, the association may appoint two auditors: an auditor and a performance auditor. If the rules of an association established after 31 August 2010 determine an auditor instead of a performance auditor, the association must appoint a KHT or HT auditor, regardless of the conditions specified above.