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Accounting and auditing in Nea Smyrni follow the same national and EU rules that apply across Greece. Businesses and organisations based in Nea Smyrni must prepare financial statements and, depending on their size and legal form, may need independent statutory audits. Auditors and certified accountants in the area are regulated by national professional bodies and must comply with Greek accounting standards, tax law and EU audit regulations. Local matters such as tax inspections, civil disputes about accounting engagements and criminal investigations for serious offences are handled by the competent Athens authorities and courts that serve the greater Athens area, which includes Nea Smyrni.
You may need legal help in accounting and auditing for many reasons. Examples include:
- Disputes with an auditor or accounting firm about the scope, quality or fees of an audit or accounting engagement.
- A tax audit, assessment or dispute with the tax authority that requires representation or legal challenge.
- Allegations of accounting irregularities, misstatements or fraud that could lead to administrative sanctions or criminal charges.
- Claims of professional negligence against an auditor or accountant, including damages or indemnity claims.
- Advice on corporate reporting obligations, consolidation, or compliance with Greek accounting standards and disclosure rules.
- Assistance with cross-border accounting and audit issues where Greek and foreign rules interact.
- Negotiation of engagement letters, confidentiality and data protection clauses, and limitation of liability provisions.
A lawyer who specialises in accounting, auditing and tax litigation can help protect your rights, negotiate with authorities and, when needed, represent you in court or in administrative proceedings.
This overview highlights the key legal elements that are particularly relevant in Nea Smyrni.
- Accounting standards: Greek companies follow national accounting rules that reflect EU directives. Law 4308/2014 establishes a framework for the preparation of financial statements for many private entities. Listed companies and some larger groups must apply International Financial Reporting Standards where required.
- Statutory audits and audit firms: Greece implements EU audit rules through national legislation and regulations. Statutory audits for enterprises that meet defined thresholds are required. Auditors and audit firms must be registered with the relevant national professional body and comply with professional standards and quality control obligations.
- Tax law and reporting: Tax law governs corporate and personal tax obligations, VAT and related reporting duties. The Independent Authority for Public Revenue handles tax administration and audits. Non-compliance can lead to administrative fines, tax surcharges and, in serious cases, criminal prosecution.
- Professional regulation: Certified auditors and accountants are regulated by national professional bodies that set entry requirements, continuing education duties and disciplinary rules. Before engaging an auditor, you should check their registration with the relevant professional register.
- Data protection and confidentiality: Audit and accounting work involves processing personal and financial data. Compliance with data protection rules, including the EU General Data Protection Regulation, is essential when handling client records, audit files and communications.
- Dispute forums and remedies: Civil courts handle contractual and tort claims, while administrative and tax courts hear appeals against tax assessments and administrative sanctions. Criminal courts handle allegations of tax fraud, falsification of accounts and related offences.
Audit requirements depend on the company type, size and legal form. Small entities may be exempt while larger companies, public interest entities and those exceeding certain thresholds for assets, turnover or employees are typically subject to statutory audit. A lawyer or certified accountant can check the thresholds that apply to your company and advise on obligations and timelines.
Choose professionals who are registered with the national auditing or accounting body, who can show relevant experience in your sector and who provide a clear engagement letter. Check professional indemnity insurance, references and whether they comply with continuing professional education requirements.
An engagement letter should set out the scope of work, deliverables, the timetable, fees and billing terms, responsibilities of the client and the professional, confidentiality terms, records access rights and any limitation of liability or dispute resolution clauses. Clear terms reduce the risk of later disputes.
If the tax authority conducts an audit, you should cooperate but also protect your rights. Keep records organised, limit verbal admissions, and consider having a lawyer or your accountant present. You have rights to appeal adverse assessments within specified time limits. Prompt legal advice is important to manage settlement or litigation strategy.
Yes. Disagreements with an auditor can be addressed through negotiation, mediation or litigation depending on the engagement terms. If you believe an auditor breached professional standards, you may also file a complaint with the relevant professional regulator that oversees auditors.
Auditors and accountants owe professional duties and may be liable for negligent performance, breach of contract or professional misconduct. Liability may lead to compensation claims. Evidence that the professional failed to meet applicable standards is typically required. Limitation periods apply for bringing civil claims.
Penalties can include administrative fines, interest on unpaid taxes, additional tax assessments and, for serious offences such as deliberate tax fraud or falsification of accounts, criminal prosecution. The severity depends on facts such as intent, amount involved and prior conduct.
Greek law and tax rules set minimum retention periods for accounting records and tax documentation. These periods can vary by document type but are generally several years. Retaining records beyond minimum periods is often prudent in case of later enquiries or litigation.
If you suspect fraud, take steps to preserve evidence and limit further loss, and seek legal and forensic accounting advice quickly. Avoid confrontations that might compromise investigations. A lawyer can advise on reporting obligations, internal investigations and potential criminal or civil actions.
Yes. If your business has foreign affiliates, investors or transactions, cross-border rules such as transfer pricing, consolidated reporting and international auditing standards may apply. Cross-border issues can raise jurisdictional and enforcement questions, so specialised legal and accounting advice is important.
Some types of organisations and offices that can help or provide information include:
- The national professional body for certified auditors and accountants - for registration and disciplinary matters.
- The Economic Chamber of Greece and local professional associations - for guidance and referrals to qualified accountants.
- The Independent Authority for Public Revenue - for tax procedures, obligations and audit information.
- The Ministry of Finance - for laws and regulations on accounting and taxation.
- The Athens Bar Association - for locating lawyers experienced in accounting, auditing and tax litigation.
- The General Commercial Registry - for company filings and public records.
- Data protection authorities - for questions about processing personal and financial data in audit and accounting work.
If you need legal assistance in Nea Smyrni for accounting or auditing matters, consider the following practical steps:
- Gather your documents - financial statements, audit reports, contracts, engagement letters, correspondence and any notices from authorities. Organised documentation helps your advisor assess the case quickly.
- Seek an initial consultation - contact a lawyer experienced in accounting, auditing and tax matters. An initial meeting will clarify your rights, deadlines and likely options.
- Verify credentials - ensure any auditor or accountant you engage is properly registered and has appropriate insurance.
- Be mindful of deadlines - appeal periods, tax payment deadlines and limitation periods may be short. Obtain advice promptly to preserve your rights.
- Consider dispute resolution clauses - where possible, include clear dispute resolution and escalation procedures in engagement letters, including mediation or arbitration options.
- Preserve evidence - keep originals and backups of accounting records, emails and audit files, and limit actions that could be seen as destroying or concealing information.
Getting professional legal and accounting advice early often reduces costs and risk. If you are unsure where to start, contact a local lawyer through the Athens Bar Association or a registered accountant who can recommend a specialised lawyer for your situation.
