Special reports
Some corporate transactions need an auditor's report or certificate before they can be registered. We prepare them with the notary and the transaction adviser, on your timetable.
Capital transactions
- Capital increase by debt conversion (set-off of loans and other debts owed by the company): auditor's certificate on the debts (article 301 of the Spanish Companies Act).
- Capital increase from reserves: verification of the balance sheet on which it is based (article 303).
- Capital reduction to restore the balance between capital and equity after losses: verification of the balance sheet (article 323).
- Merger, demerger and other restructuring balance sheets when they must be verified.
Agreed-upon procedures and other engagements
- Agreed-upon procedures on financial information (ISRS 4400): loan covenants, average supplier payment period, packaging declarations and other data a third party requires.
- Reviews of interim financial statements.
- Supplementary reports required by some sector-specific rules, such as those for cooperatives.
- Audits of special-purpose financial statements for a specific transaction.
When a company has no statutory auditor, some of these reports are signed by an auditor appointed by the Companies Register. Others, such as the report on the disapplication of pre-emptive rights (article 308), must come from an independent expert other than the company's auditor. We tell you in each case who must sign.
Frequently asked questions
How long does a debt-conversion certificate take?
It depends on the documentation of the debts. If the books are up to date and the debts are well supported, it can be issued within a few days of receiving the information.
What is an agreed-upon procedures report?
An engagement in which we apply specific procedures agreed between the entity and the intended user (for example, checking a loan covenant) and report our factual findings. It is not an audit and does not express an opinion.
Can our current auditor do it?
In many cases it is done by the company's statutory auditor. If the company is not audited, we explain how the auditor for the transaction is appointed.
Do you need an audit or a report?
Tell us what you need. We reply with the scope of work, the timetable and the fee before anything starts.