The time for choosing an auditor is approaching

Publication / 20.10.2020

In principle, there is no imposed deadline for choosing an auditor, but nevertheless the auditor should have the opportunity to participate in the annual inventory. The period of implementation of this inventory for the balance year coinciding with the calendar year begins at the beginning of October and ends no later than January 15. Therefore, in cases where inventories are a significant item in the financial statements of an economic entity, the contract with the expert should be concluded as early as October. Otherwise, one should consider objections in the expert’s opinion.