Best Accounting & Auditing Lawyers in Lefkada

1. About Accounting & Auditing Law in Lefkada, Greece

Accounting and auditing law in Lefkada, Greece, governs how businesses keep books, report financial results, and have their accounts verified by independent auditors. The framework blends national statutes with European Union directives to ensure consistency across Greece’s islands and mainland. Local enforcement occurs through Greek tax offices (DOY) and regional business registries, but the underlying rules are national.

Key aspects include annual financial statements, the use of generally accepted accounting principles, and statutory audits for certain company types. In Lefkada, as elsewhere in Greece, small and medium enterprises may follow Greek Generally Accepted Accounting Principles (GAAP) or IFRS for consolidated accounts, depending on their size, legal form, and whether they are publicly listed. The role of an accounting and auditing attorney or solicitor is to interpret and apply these rules to specific business situations, disputes, or regulatory inquiries.

Because accounting and auditing rules change with new laws and EU directives, residents of Lefkada benefit from timely guidance on recent amendments and transitional provisions. Specialized counsel can help assess whether your company falls under mandatory audits, prepare for audits, and respond to any regulatory findings efficiently. Official sources provide the basis for understanding and applying these requirements in Lefkada and across the Ionian Islands region.

Source notes: Greek corporate law and EU audit requirements apply nationwide, including Lefkada. Consult official legislation portals for current text and amendments.

2. Why You May Need a Lawyer

• Scenarios involving a tax dispute with the Lefkada DOY (Tax Office). A Lefkada business received a notice of additional tax assessment and needs lawful guidance on objection procedures and evidence presentation.
• Preparing for a statutory audit of a Lefkada company big enough to trigger an audit. A local manufacturer must engage a licensed auditor and ensure objection rights are preserved during the process.
• Discrepancies in annual financial statements for a Lefkada affiliate with a parent company abroad. You need cross-border consolidation guidance and regulatory compliance advice.
• Disciplinary action against a local auditor or member of the Greek auditing profession. If your firm faces investigation by the professional body, you require representation and procedural counsel.
• Dispute over IFRS vs Greek GAAP treatment for a Lefkada tourism business. A local hotel group seeks to align its reporting with regulatory expectations and investor requirements.
• Compliance review for a Lefkada startup seeking admission to a capital market or preparing for potential funding rounds. Legal counsel can clarify reporting thresholds and audit obligations.

3. Local Laws Overview

Law 2190/1920 - The Greek Companies Law (per Anonymi Etaireies) governs corporate formation, governance, and reporting requirements, including audit obligations for certain company types. This foundational statute has been amended repeatedly to reflect modern corporate practice and EU integrations. In Lefkada, the DOY system enforces these rules through local filing and compliance duties. Effective since 1920 with ongoing amendments.

Regulation (EU) No 537/2014 on Statutory Audits sets the framework for statutory audits of annual accounts and consolidated accounts for public-interest entities and certain other entities within the EU. Greece implemented this regulation through national law and supervisory guidance, with phased adoption and transitional provisions. In practice, large Greek companies and PIEs are subject to audit by qualified auditors registered with the national board. Effective for audits of PIEs from 2016 onward.

Law 4174/2013 - Tax Procedure Code reorganized tax administration and procedures in Greece, including how tax assessments are issued, appealed, and settled. It creates the procedural backbone for interactions between taxpayers and the Lefkada DOY, and shapes deadlines and evidentiary standards for accounting documentation in audits and tax reviews. Entered into force in the following years after enactment; ongoing updates.

Note: These laws apply across Greece, including Lefkada. Local practice often hinges on DOY interpretations and regional audit offices. When advising clients in Lefkada, counsel will tailor this national framework to the company’s structure, operations, and local filings.

For primary texts and official law references, consult the Greek government’s legal portals and the Parliament’s records. The following sources provide authoritative bases for these laws and regulations:

4. Frequently Asked Questions

What is the role of an accounting law attorney in Lefkada?

An accounting law attorney guides clients on compliance, audits, tax disputes, and financial reporting obligations. They interpret Greek and EU rules, prepare regulatory submissions, and represent clients in disputes with DOY, SOEL bodies, or courts.

How do I start a tax dispute with the Lefkada DOY?

Begin by reviewing the assessment notice with your attorney, gathering supporting documents, and filing a formal objection within the deadline. Your lawyer can prepare a structured response, request a reconsideration, and represent you in hearings.

When is a statutory audit required for a Lefkada company?

A statutory audit is required for entities meeting criteria under Law 2190/1920 and Regulation 537/2014, typically large or public-interest entities. A local attorney can confirm whether your company falls under mandatory audits based on size, activity, and group structure.

Where can I find the official accounting standards applicable in Greece?

Official texts are published by the Greek government and EU authorities. Start with the National Printing Office portal and the Hellenic Parliament for texts, and verify with your auditor for practical application in your sector.

Why might a Lefkada audit take longer than expected?

Delays can stem from complex group structures, cross-border consolidation, or incomplete documentation. A local auditor and attorney can create a documented timeline and request missing data to minimize delays.

Do I need to hire a local lawyer for an audit in Lefkada?

While some services can be handled remotely, local counsel helps with DOY procedures, regional offices, and specific Lefkada filing nuances. Local presence often facilitates smoother communications with authorities.

How much does hiring an accounting and auditing lawyer typically cost in Lefkada?

Fees vary by complexity, company size, and case duration. Typical engagements may be charged hourly or via a flat project fee, with a written engagement letter outlining scope and milestones.

Can I change auditors mid-year in Greece and what is the process?

Changing auditors mid-year is possible, subject to regulatory approval and notification to the authorities. Your counsel can manage the transition, ensuring continuity of reporting and compliance with deadlines.

Is IFRS mandatory for all Lefkada businesses or only PIEs?

IFRS adoption is required for listed entities and many large groups for consolidated accounts, with broader adoption phased over time for other entities. Your attorney can advise based on your entity type and reporting needs.

How long does the audit process typically take for a small business in Lefkada?

For smaller entities, a practical audit may take 4-8 weeks from planning to report issuance, depending on document availability and cooperation with the auditor. Your counsel can set a realistic timeline in the engagement letter.

What is the difference between Greek GAAP and IFRS in practice?

Greek GAAP reflects local standards for financial reporting, while IFRS emphasizes international comparability and recognition. Consolidated accounts for groups often use IFRS, with local GAAP applied to standalone financial statements where allowed.

Should I involve a lawyer early in the audit process?

Yes. Early legal involvement helps ensure proper documentation, identifies regulatory risks, and aligns reporting with applicable laws. This can reduce delays and penalties in the long run.

5. Additional Resources

• AADE - Independent Authority for Public Revenue (government agency handling tax collection, customs, and tax compliance) - aade.gr
• Hellenic Parliament (access to Greek legislation and official texts) - parliament.gr
• Official Government Gazette of Greece (et.gr) - publishes laws, presidential decrees, and regulatory acts

6. Next Steps

1. Clarify your needs by outlining whether you require compliance guidance, an audit, or dispute resolution with tax authorities.
2. Search for local Lefkada law firms or solo practitioners with expertise in accounting, auditing, and tax law-prioritize those with regional experience.
3. Review credentials: confirm licensing with SOEL, years of practice, and experience with your entity type and sector.
4. Request a figure for initial consultations and a written engagement letter detailing scope, timeline, and fees.
5. Prepare your documents: financial statements, tax notices, prior audits, and correspondence with DOY; organize them by date and issuer.
6. Schedule an in-person or virtual meeting to discuss strategy, potential risks, and the communication plan with authorities.
7. Proceed with engagement after confirming terms, and maintain ongoing updates with your counsel as the matter progresses.

Note: For authoritative texts, refer to official Greek sources and EU guidance accessible through official portals such as et.gr, aade.gr, and parliament.gr. Always verify the current text and any amendments before relying on a provision in a specific matter.