When your Polish company faces its annual audit, the relationship between your internal accountant and the external statutory auditor becomes crucial for a smooth, efficient process. While the statutory auditor (biegły rewident) conducts the independent examination of your financial statements, your accountant serves as the essential bridge between daily operations and audit requirements. This extensive preparatory and supportive work represents one of the most critical financial services for businesses in Poland, as it streamlines the external audit and significantly reduces the risk of complications, delays, or unfavorable findings that could impact your company’s reputation and compliance status.
Who needs a mandatory audit in Poland?
Understanding whether your company requires a statutory audit (badanie sprawozdania finansowego) helps you prepare adequately and allocate resources appropriately. Polish law mandates audits for companies meeting specific criteria, which were updated in recent years to align with European Union directives.
As of 2025, your company requires a mandatory audit if it meets at least two of the following three conditions for two consecutive years:
- Annual net turnover exceeding PLN 25.5 million (approximately €5.4 million)
- Total assets on the balance sheet exceeding PLN 12.75 million (approximately €2.7 million)
- Average annual employment exceeding 50 full-time equivalent employees
Additionally, certain entities must undergo audits regardless of size. These include banks, insurance companies, investment funds, public companies listed on the Warsaw Stock Exchange, and entities receiving significant public funding. Joint-stock companies (S.A.) also require audits irrespective of their financial metrics.
The audit must be completed before the annual shareholders’ meeting approves the financial statements, typically within six months after the fiscal year ends. Missing this deadline can result in penalties and complications with the National Court Register (KRS), making your accountant’s timely preparation even more critical.
The accountant vs. the auditor: understanding distinct roles
Many business owners confuse the roles of their company accountant and the external auditor, but understanding this distinction helps optimize the audit process. Your accountant works within the company throughout the year, maintaining books, preparing financial statements, and ensuring tax compliance. They possess intimate knowledge of your business operations, transactions, and financial systems.
The statutory auditor, conversely, maintains complete independence from your company. Licensed by the Polish Chamber of Statutory Auditors, they provide an objective assessment of whether your financial statements present a true and fair view of your company’s financial position. They cannot have any financial interest in your company or provide bookkeeping services to maintain this independence.
Think of your accountant as the architect who builds and maintains your financial house throughout the year, while the auditor acts as the independent inspector who verifies that everything was constructed according to regulations and standards. Both roles are essential, but they serve different purposes in ensuring your company’s financial integrity.
The accountant’s role before the audit begins
Preparation for an audit typically begins months before the auditor arrives. Your accountant’s groundwork during this phase often determines whether the audit proceeds smoothly or encounters numerous obstacles. They must ensure all financial records are complete, accurate, and readily accessible.
Key preparatory tasks your accountant handles include:
- Reconciling all balance sheet accounts, ensuring bank statements match recorded transactions
- Reviewing and documenting all significant accounting policies and any changes from previous years
- Preparing detailed schedules for assets, liabilities, revenues, and expenses
- Ensuring all supporting documentation is organized and easily retrievable
- Conducting internal reviews to identify and correct potential issues before the auditor discovers them
- Preparing the draft sprawozdanie finansowe (financial statements) in accordance with Polish Accounting Standards or IFRS
- Compiling the management report and other required disclosures
- Coordinating with other departments to gather necessary information and explanations
Your accountant also prepares what auditors call the „trial balance” – a comprehensive list of all account balances that serves as the foundation for the audit. This document, along with supporting schedules and analyses, forms the audit file that the external auditor will examine in detail.
Supporting the auditor during the examination
Once the audit begins, your accountant becomes the primary liaison between the auditor and your company. They facilitate the auditor’s work while ensuring minimal disruption to daily operations. This phase requires excellent communication skills and deep knowledge of both the company’s operations and accounting standards.
During the audit, your accountant responds to numerous queries from the auditor, explaining unusual transactions, clarifying accounting treatments, and providing additional documentation as requested. They might need to explain why certain accounting policies were chosen, demonstrate compliance with tax regulations, or justify significant estimates and judgments made in preparing the financial statements.
The accountant coordinates the auditor’s requests for confirmations from banks, customers, suppliers, and legal advisors. They arrange for the auditor to observe physical inventory counts, review fixed assets, and access necessary IT systems. When the auditor identifies potential issues, your accountant works to provide explanations or additional evidence to resolve concerns.
This collaborative phase requires patience and professionalism. Auditors often request information multiple times or in different formats, and your accountant must respond promptly and accurately while managing their regular responsibilities. The quality of this interaction significantly influences the audit’s duration and outcome.
Post-audit responsibilities and follow-up
The accountant’s role doesn’t end when the auditor completes fieldwork. After the examination, they must address any adjustments or disclosures the auditor recommends. If the auditor identifies errors or suggests changes to the financial statements, your accountant evaluates these recommendations and implements appropriate corrections.
When the auditor issues the audit opinion, your accountant ensures it’s properly incorporated into the annual report. They coordinate the submission of audited financial statements to the KRS within 15 days of approval by shareholders. This filing must include the financial statements, management report, audit opinion, and shareholders’ resolution approving the statements.
If the audit reveals internal control weaknesses or areas for improvement, your accountant typically leads the implementation of recommended changes. They develop action plans, modify procedures, and enhance documentation practices to address the auditor’s concerns before the next audit cycle.
Your accountant also maintains the audit documentation for future reference. Tax authorities or other regulators might request this information years later, making proper archival essential. Polish law requires keeping audit-related documents for at least five years, though some records need longer retention periods.
Building a productive audit relationship
Successful audits depend on the professional relationship between your accountant and the external auditor. While maintaining independence, both parties benefit from mutual respect and clear communication. Your accountant can foster this relationship by being transparent about challenges, proactive in addressing issues, and responsive to requests.
Regular communication throughout the year, not just during audit season, helps prevent surprises. Your accountant might consult the auditor about significant transactions or accounting policy changes before year-end, ensuring alignment on treatment and documentation requirements. This proactive approach reduces audit adjustments and demonstrates your company’s commitment to accurate financial reporting.
Training and professional development also matter. Accountants who stay current with changing regulations, accounting standards, and audit requirements can better support the audit process. Many pursue continuous education through the Polish Accountants Association or other professional bodies, enhancing their ability to navigate complex audit requirements.
Conclusion
The annual audit process in Poland requires careful orchestration between your internal accounting team and the external statutory auditor. Your accountant’s role extends far beyond simply providing documents; they serve as the crucial link ensuring your company’s financial story is accurately told and independently verified.
From months of preparation through post-audit implementation, your accountant’s expertise and dedication directly impact the audit’s efficiency and outcome. Their deep understanding of your business, combined with technical accounting knowledge, helps navigate the complex requirements of Polish audit regulations while minimizing disruption to operations.
Companies that recognize and support their accountant’s vital role in the audit process typically experience smoother examinations, fewer adjustments, and better audit opinions. This investment in proper preparation and professional collaboration ultimately protects your company’s reputation, ensures regulatory compliance, and provides stakeholders with confidence in your financial reporting.
