Banks Disagree on Reducing Financial Audits for Businesses
November 14, 2025
Banks have expressed their disagreement with a proposed law that would allow businesses with a turnover of up to €900,000 to have a simple review of their financial statements instead of a full audit. They believe that the timely submission of audited financial statements is crucial for their business activities. Raising the review limit could lead to problems, as many businesses do not submit the necessary statements on time. The Banks' Association requests stricter regulations to ensure compliance by businesses. They emphasize the importance of compliance for combating money laundering activities.