Best Accounting & Auditing Lawyers in Elliniko

About Accounting & Auditing Law in Elliniko, Greece

Elliniko is part of the Attica region and follows the same national legal framework that governs accounting and auditing across Greece. Accounting and auditing law in Greece combines national legislation, professional standards and European Union rules. Businesses and organizations must prepare financial statements that comply with Greek accounting standards or International Financial Reporting Standards - depending on the type and size of the entity - and may be subject to statutory audit obligations when they meet criteria set by law. Auditors and certified accountants operate under professional regulation and licensing requirements which aim to ensure independence, competence and public accountability.

Why You May Need a Lawyer

Accounting and auditing issues often raise legal as well as technical accounting questions. You may need a lawyer in Elliniko if you face any of the following situations:

- Disputes with the Independent Authority for Public Revenue or other tax authorities about assessments, penalties or tax audits.

- Allegations of financial misstatement, fraudulent accounting or tax evasion that could lead to administrative sanctions or criminal charges.

- Conflicts between shareholders, directors or business partners about financial reporting, dividends, or alleged breaches of fiduciary duty.

- Auditor negligence or professional liability claims where an audit firm or auditor may have failed to detect material misstatements or comply with auditing standards.

- Corporate transactions, restructurings, mergers or dissolutions that require review of financial statements, due diligence and contract drafting to manage accounting and tax consequences.

- Regulatory compliance matters such as statutory filing obligations, accounting for grants or public funding, and compliance with sector-specific rules.

- Assistance with administrative appeal procedures, negotiating settlements with authorities, or representing you in court or before administrative bodies.

Local Laws Overview

This overview summarizes key legal elements that affect accounting and auditing in Elliniko and across Greece. It is not exhaustive, but it highlights what most businesses and individuals should know.

- Accounting framework - Small and many medium-sized companies prepare financial statements under Greek accounting rules derived from national legislation and European accounting directives. Larger companies, listed firms and certain groups prepare statements in accordance with International Financial Reporting Standards.

- Statutory audit obligations - Greek law and EU audit rules require statutory audits for companies that exceed defined size thresholds. Statutory audits are performed by licensed statutory auditors or audit firms that are registered with the national professional regulator.

- Professional regulation - Statutory auditors and certified accountants must be registered with the national professional body for auditors and abide by professional codes of conduct including rules on independence and continuing professional education.

- Tax law interaction - Accounting records are the basis for tax assessments. Greek tax law and procedural rules govern tax reporting, audits, assessments, collection, and appeal rights. The national tax authority administers assessments and enforces penalties for noncompliance.

- Criminal and administrative liability - Serious accounting infractions, deliberate misstatements, fraud and tax evasion can trigger administrative fines and criminal investigations. Directors and officers may face personal liability in certain cases.

- Corporate law - Company law governs directors duties, shareholder rights, distribution of profits and filing obligations. Financial reporting obligations are set out in company law as well as tax legislation.

- Anti-money laundering and client due diligence - Accountancy and audit professionals are subject to anti-money laundering obligations and must follow client identification and reporting rules when suspicious transactions are detected.

Frequently Asked Questions

What is the difference between an accountant and a statutory auditor in Greece?

An accountant (or certified accountant) prepares financial statements, bookkeeping and tax returns, and provides advisory services. A statutory auditor is an independent professional or firm licensed to perform statutory audits mandated by law. Statutory auditors provide an opinion on whether financial statements give a true and fair view and comply with applicable accounting standards. The auditor’s role carries special independence and reporting obligations.

When does my company need a statutory audit?

Statutory audit requirements apply when a company exceeds thresholds set by national law and aligned EU directives - typically based on total assets, net turnover and average number of employees. Threshold values can change, so check with a certified accountant or lawyer to determine if your company currently requires a statutory audit.

Who regulates auditors and how can I check an auditor’s license?

Audit professionals are regulated by the national professional body for auditors which maintains a public register of licensed statutory auditors and audit firms. You can confirm an auditor’s registration and professional standing through that regulator. For legal issues or disputes you should also contact a lawyer experienced in professional liability and regulatory matters.

What should I do if the tax authority opens an audit of my company?

Immediately gather relevant accounting records and correspondence, notify your accountant and legal counsel, and preserve documents. Cooperate with lawful requests but avoid making unadvised statements. A lawyer can advise on procedural rights, deadlines for responding, and whether to request an administrative review or contest proposed assessments.

Can company directors be held personally liable for accounting or tax faults?

Yes. Directors and officers can face personal civil liability and in serious cases criminal liability for fraudulent accounting, failure to file required accounts or deliberate tax evasion. Liability will depend on the facts, level of fault and whether statutory duties were breached. Directors should seek legal advice promptly if an issue arises.

What remedies are available if an auditor is negligent?

If an auditor fails to perform duties with due care and that negligence causes loss, the company or shareholders may pursue civil claims for damages, and file complaints with the professional regulator. In serious cases there may also be disciplinary measures against the auditor. Consult a lawyer to evaluate standing, evidence requirements and limitation periods.

How are financial statements filed and who can access them?

Companies must prepare and file annual financial statements with the competent authorities according to company law and tax rules. Depending on the company type, filed statements may be accessible to the public, creditors and regulatory bodies. Specific filing routes and deadlines vary by company form and size.

What are common penalties for noncompliance with accounting and tax rules?

Penalties range from fines and interest on unpaid taxes to administrative sanctions such as prohibition from contracts, and in severe cases criminal prosecution. Penalties depend on the nature of the breach - administrative, tax-related or criminal - and whether the breach was intentional or due to negligence.

Do accounting records need to be kept in Greek?

Primary accounting records and official filings submitted to Greek authorities are generally expected to be in Greek. If originals are in another language, certified translations may be required for official procedures. Confirm language requirements with your accountant or lawyer before submitting documents.

How long do I have to keep accounting records and supporting documents?

Record retention periods are set by tax and company law and can differ by document type. Commonly, accounting records and supporting documents must be kept for several years to meet audit and tax review requirements. Check applicable retention periods with a professional because they affect your rights to defend against late assessments.

Additional Resources

Below are organizations and institutions that are helpful when dealing with accounting and auditing legal matters in Elliniko and Greece:

- The national tax authority - for guidance on tax procedures, audits and assessments.

- The national professional regulator for statutory auditors - for licensing, professional rules and complaints about auditors.

- The Ministry of Finance - for legislation on tax and accounting policy and regulatory updates.

- The Athens Bar Association - to find lawyers qualified in tax, corporate and accounting litigation.

- Local certified accountants and audit firms - for technical accounting support, preparation of accounts and audit services.

- Hellenic Chamber of Commerce or local business associations - for practical support on compliance and business operations.

Next Steps

If you need legal assistance with accounting or auditing matters in Elliniko, follow these practical steps:

- Gather documents - collect financial statements, ledgers, tax returns, audit reports, correspondence with authorities and any relevant contracts or board resolutions.

- Consult a certified accountant - get a technical assessment of the accounting issues and identify regulatory or tax exposures.

- Contact a qualified lawyer - choose a lawyer with experience in tax law, corporate law and professional liability related to accounting and auditing. Provide all relevant documents and a clear timeline of events.

- Agree scope and fees - request a written engagement letter that sets out services, fees, timelines and confidentiality terms.

- Understand timelines and remedies - ask about administrative appeal procedures, statute of limitations, negotiation options and litigation prospects.

- Preserve evidence and limit disclosures - avoid unnecessary communication about the dispute until you have legal advice, and ensure secure document handling.

- Consider mediation or settlement - many accounting and audit disputes can be resolved through negotiation, mediation or professional disciplinary procedures without full court trials.

Getting timely advice from both accounting and legal professionals will improve your position and help you manage regulatory, tax and litigation risk effectively.