The Estonian Parliament has approved amendments to the Accounting Act and related laws, increasing the thresholds for mandatory audits and reviews by 25%. It is important to note that the new thresholds will be applied retroactively from January 1, 2024, to financial statements prepared for the financial year 2024.
New thresholds for audits and reviews:
| Audit thresholds | Review thresholds | |
| 1) If at least 2 conditions are met: | ||
| Turnover or income | 5 MEUR | 2 MEUR |
| Balance sheet value | 2,5 MEUR | 1 MEUR |
| Average number of employees | 50 | 24 |
| 2) If at least 1 condition is met: | ||
| Turnover or income | 15 MEUR | 6 MEUR |
| Balance sheet value | 7,5 MEUR | 3 MEUR |
| Average number of employees | 180 | 72 |