Higher Threshold Reduces Mandatory Audits
By next year, the number of companies in Catalonia required to undergo mandatory financial audits will decrease, according to Noelia Acosta, second vice president of the Association of Chartered Certified Accountants (ACCA) and a partner at Baker Tilly. This follows a 25% increase in the financial thresholds that trigger mandatory audits.
Under current rules, a company must have assets exceeding €3,562,500 or an annual turnover above €7,125,000 to be legally required to undergo an audit. These thresholds have recently been raised, meaning smaller and mid-sized firms that previously qualified will no longer be obligated to do so.
Profession Adapting to Change
Acosta, speaking from the ACCA’s headquarters in Pedralbes, Barcelona, a modernist building known as Torre Moré, highlighted that the auditing profession is evolving amid regulatory shifts and technological change. She noted that while the mandatory audit base shrinks, many firms still choose to be audited voluntarily for added credibility and transparency.
"Auditing provides transparency and guarantee to the markets. There are very many companies that are not required to do so and that are audited voluntarily."
The ACCA, which has over 233,000 members worldwide according to its official history, is marking its 30th anniversary in Catalonia next Wednesday with an event honouring architect Òscar Tusquets, who remodelled its headquarters.
Gender Gap and Talent Challenges
The association also faces internal challenges, including a significant gender imbalance. While 35% of entry-level auditors are women, their representation drops below 30% among executive partners. Overall, the membership remains 80% male and 20% female.
Acosta stressed the need to improve public understanding of the profession, which is often perceived as dull or overly technical. To attract new talent, the ACCA is working with universities and business schools to promote auditing as a dynamic career, particularly encouraging women and graduates in sustainability, computer science, and engineering.
Strategic Shifts in Business Planning
On the broader economic outlook, Acosta described Catalan businesses as financially solid and resilient, though strategic planning horizons have shortened. Where companies once set five-year plans, most now operate on three-year cycles, revising tactics annually in response to geopolitical risks, supply chain disruptions, and energy costs.
"The Catalan company exports a lot, and this is a point it works on, and it tries to expand its network of clients around the world to mitigate the dependencies it may have," she said.
Reported by en.ara.cat, accaglobal.com, Diari ARA.
