Most small Estonian private limited companies (OÜ) need neither an audit nor a review: their annual report is prepared and submitted without an auditor. The Auditors Activities Act sets two sets of thresholds — a lighter review above the first, a full audit above the second. This guide gives the thresholds with their source and what follows when a company crosses them.
The guide is general information. The thresholds were read in the English translation of the Auditors Activities Act in Riigi Teataja on 16 October 2026; the law can change, so check the current text when your company approaches them.
When an audit is compulsory
An audit of the annual accounts is compulsory when at least two of these indicators of the financial year exceed (Auditors Activities Act § 91(1)):
- sales revenue or income EUR 5,000,000;
- total assets at the reporting date EUR 2,500,000;
- average number of employees 50.
It is also compulsory when at least one indicator exceeds: sales revenue or income EUR 15,000,000, total assets EUR 7,500,000, or 180 employees on average (§ 91(2)).
When a review is compulsory
A review — a lighter check by a sworn auditor — is compulsory when at least two indicators exceed (§ 92(1)):
- sales revenue or income EUR 2,000,000;
- total assets at the reporting date EUR 1,000,000;
- average number of employees 24.
It is also compulsory when at least one indicator exceeds: sales revenue or income EUR 6,000,000, total assets EUR 3,000,000, or 72 employees on average (§ 92(2)).
Below the thresholds
A company below both sets of thresholds prepares its annual report without an auditor. The management board prepares it, the shareholders approve it, and it is submitted to the commercial register within six months after the end of the financial year (Commercial Code § 179). The shareholders may still choose to elect an auditor (§ 168(1) clause 7).
If your company crosses a threshold
- The shareholders elect the auditor (Commercial Code § 168(1) clause 7).
- The sworn auditor's report is appended to the annual report and submitted with it to the commercial register (§ 179(2) and (4)).
- Plan the audit before the year ends: the auditor needs the books and the documents behind them, and the six-month deadline for the annual report still applies.
What we do
- monthly accounting — from €150 / month;
- the annual report — from €450, or for a company without turnover €450 / report.
We do not audit or review annual accounts; that is done by a sworn auditor. You can order accounting or an annual report for a company without turnover online.
Prices exclude VAT. All communication takes place by email.
Ready to start? Ongoing bookkeeping for an Estonian company — the books an annual report and an auditor need. Order.
Official sources
The laws this article names, by the name of their official text, as read on 9 October 2026. For the Estonian acts we read the English translation in Riigi Teataja; the legally binding text is the Estonian one.
- Auditors Activities Act — Riigi Teataja, English translation
- Commercial Code — Riigi Teataja, English translation
Sources are named in the text, without links. To see which of our services your company needs, open the Business Navigator.
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More on this topic: Company formation.