Best Accounting & Auditing Lawyers in Arona

1. About Accounting & Auditing Law in Arona, Spain

Arona residents follow Spain's national framework for accounting and auditing. Private companies and self employed individuals must maintain accounting records that reflect their economic activities under the Plan General de Contabilidad. Audits are regulated by the Ley de Auditoría de Cuentas and overseen by the Instituto de Contabilidad y Auditoría de Cuentas (ICAC). Local councils in Arona do not create separate accounting rules for private entities, but local business practices and tax inspections do operate within the national system.

In practical terms, if you run a business in Arona, you will likely interact with accountants, auditors, and legal counsel who understand how the national framework applies to Canary Islands companies. You may also need to file annual accounts with the Mercantile Registry and respond to tax or audit requests from public authorities. A local abogado (lawyer) with experience in accounting and auditing can help you navigate these requirements and avoid compliance gaps.

2. Why You May Need a Lawyer

A lawyer specialized in Accounting & Auditing can help you avoid costly mistakes and protect your interests in Arona. Consider these concrete scenarios that commonly arise for businesses and individuals in Tenerife and the Canary Islands.

• You are preparing to file annual accounts and need to ensure compliance with the Plan General de Contabilidad and the Mercantile Registry requirements in the Canary Islands.
• Your company receives an audit notice or requests from ICAC or the tax authorities, and you require representation and strategy to respond.
• You suspect accounting irregularities or fraud and need a legal plan to investigate, document, and remediate issues with auditors and regulators.
• You are negotiating an audit engagement with an external auditor or are seeking a qualified auditor to meet mandatory audit thresholds for your Arona business.
• You are considering a corporate restructure, merger, or due diligence for a sale or investment in Tenerife, and need precise accounting and regulatory guidance.

These scenarios demand tailored advice from a solicitor or abogado who understands both Spanish accounting law and the practical realities of doing business in Arona. A local legal counsel can coordinate with auditors, tax advisers, and regulators to align your actions with the applicable legislation.

3. Local Laws Overview

Spain regulates accounting and auditing through national laws that apply uniformly across all regions, including the Canary Islands and Arona. Here are two to three key statutes you should know, along with how they affect local practice.

• Plan General de Contabilidad (Plan General de Contabilidad) - Governs the standard accounting framework for most companies. It provides the set of norms for recording, presenting and publishing financial information. The Plan General de Contabilidad has been issued as a Real Decreto and is periodically updated to reflect economic changes. For the latest version and official guidance, consult ICAC and BOE resources.
• Ley de Auditoría de Cuentas - Sets requirements for external audits, the registration of auditors, and the oversight framework. It determines which entities must be audited and the rules governing audit reports. ICAC administers the regime and keeps the public up to date on compliance expectations. This law is central in Arona for companies facing statutory audits.
• Código de Comercio and related corporate accounting obligations - Establishes the general duties of merchants and the obligation to keep proper accounting records and to publish annual accounts with the Mercantile Registry. These provisions remain applicable in Arona as part of Spain’s civil and commercial framework.

Auditors in Spain are regulated by the Ley de Auditoría de Cuentas and overseen by ICAC.

Source note: ICAC guidelines and official statutes published in the Boletín Oficial del Estado (BOE) provide the authoritative framework for accounting and auditing in Arona and the Canary Islands. See ICAC resources and BOE publications for the most current texts. ICAC • BOE.

4. Frequently Asked Questions

What is the Plan General de Contabilidad?

The Plan General de Contabilidad is the standard accounting framework used in Spain. It defines how to record and present financial information for most companies.

How do I know if my company needs an external audit in Arona?

Audit requirements depend on company size and regulatory thresholds. Large companies are typically required to have an external audit, while many SMEs may be exempt unless they exceed set criteria.

Where can I find an ICAC registered auditor in Arona?

You can search the ICAC registry through its official site for auditors authorized to practice in Spain and who serve the Canary Islands region, including Arona.

How much does an audit typically cost in Tenerife?

Audit fees vary by company size, complexity, and the scope of the engagement. A local abogado or auditor can provide a detailed estimate after reviewing your books.

How long does the auditing process take for a typical Arona company?

Timelines depend on the company size and readiness of your accounts. A standard full audit may take several weeks, with longer durations for complex groups.

Do I need to hire a local abogado based in Arona?

Local presence helps with understanding Canary Islands procedures and local authorities. A Tenerife based lawyer can coordinate with auditors and regulators more efficiently.

What is the difference between an auditor and an accountant in Spain?

An accountant records and reports financial information under the accounting framework. An auditor independently verifies and certifies the accuracy of those accounts under the auditing law.

Can I challenge an auditor's report in Arona?

Yes. If you disagree with an auditor, you may need legal representation to challenge findings, manage dispute resolution, or request revisions through proper channels.

Should I prepare for a tax audit when I hire an auditor?

Yes. An auditor can help you prepare financial documents and respond to tax authorities, but you may also need tax counsel to handle specific tax issues.

Do I need to understand IFRS or local GAAP for my Arona business?

Most private Spanish entities follow the local Plan General de Contabilidad. Publicly listed companies and some international groups may use IFRS for consolidated accounts.

Is it possible to switch from one auditor to another during an engagement?

Switching auditors is possible but requires formal notification, a proper handover, and compliance with regulatory rules and the existing engagement terms.

5. Additional Resources

• ICAC - The Instituto de Contabilidad y Auditoría de Cuentas supervises accounting and auditing practices in Spain. It provides guidance, registries, and oversight information. ICAC
• Agencia Tributaria (AEAT) - The Spanish tax authority offers guidance on tax compliance, reporting obligations, and fines related to accounting irregularities. AEAT
• Boletín Oficial del Estado (BOE) - The official gazette where all primary accounting and auditing laws are published. Use the portal to locate Real Decreto and Ley texts. BOE

6. Next Steps

1. Clarify your objective and select the scope of legal services you need in accounting and auditing. Define the timeline and budget before contacting a lawyer.
2. Gather relevant materials such as financial statements, last audit reports, tax filings, and correspondence with auditors and regulators.
3. Search for local lawyers in Arona or Tenerife who specialize in accounting and auditing. Prioritize those with experience in the Canary Islands regulatory environment.
4. Contact at least three firms for initial consultations. Prepare a list of questions about experience, approach, and fee structures.
5. Review engagement terms and fee estimates. Ask for a clear retainer, hourly rates, and possible caps on costs.
6. Choose a lawyer and sign an engagement letter. Establish a communications plan and set milestones for deliverables.