Can I do without an audit?
This is possible. Small companies with limited audit requirements can waive the audit if all shareholders agree to this "opting out".
What conditions need to be met?
A company limited by shares (AG), a limited liability company (GmbH), or a cooperative (Genossenschaft) can waive the limited audit if it has the agreement of all shareholders. However, this is possible only if the company has no more than an annual average of 10 full-time equivalent positions.
This waiver then also applies for future years. However, every shareholder can call for a limited audit 10 days prior to the general meeting at the latest. The general meeting or meeting of shareholders must then choose an auditor.
We have produced a sample letter to the shareholders for you as well as a validation report and an SME declaration regarding the waiver for the Commercial Registry.