Best Accounting & Auditing Lawyers in Puerto del Rosario

1. About Accounting & Auditing Law in Puerto del Rosario, Spain

Puerto del Rosario residents and businesses operate under the same national accounting and auditing framework that governs the rest of Spain. Local practice is influenced by Canarian tax rules, but the primary rules come from national laws and official standards. In practice, you will rely on the Plan General de Contabilidad for day-to-day bookkeeping and on the Ley de Auditoría de Cuentas for external audits when required.

The accounting framework is designed to ensure consistency, comparability, and reliability of financial information across Spain, including Canary Islands companies. Companies keep records in line with the approved plans and standards, which auditors review in annual audits when mandatory. Local authorities in Puerto del Rosario recognize the standard timing and filing requirements set by national law.

“The Plan General de Contabilidad establishes the general framework for accounting in Spain and applies to all entities operating in the country, including those in the Canary Islands.”

For individuals and small firms, this framework provides a clear path for maintaining books, preparing annual accounts, and presenting information to authorities such as the Registro Mercantil. While the Canary Islands have a distinct indirect tax (IGIC) for goods and services, the accounting and annual reporting rules largely follow the national standards. An attorney or legal counsel can help translate these standards into practical actions for your business in Puerto del Rosario.

2. Why You May Need a Lawyer

Below are concrete, real-world scenarios where residents of Puerto del Rosario may benefit from accounting and auditing legal counsel. Each example reflects local practices and obligations that arise in Canary Islands business life.

• You are forming a new sociedad de responsabilidad limitada (SL) in Fuerteventura and need to set up compliant books from day one, including the appropriate use of the Plan General de Contabilidad for your sector.
• Your company undergoes a statutory external audit and you need independent legal advice on auditor selection, scope of work, and independence requirements under Ley de Auditoría de Cuentas.
• During annual accounts preparation, you discover misstatements that require restatement and potential penalties from the Registro Mercantil or tax authorities in Las Palmas province.
• You operate under IGIC obligations and need guidance on how to reflect Canary Islands indirect tax rules in your books and how changes affect your VAT-like reporting.
• A dispute arises with an auditor or contador about the interpretation of the Plan General de Contabilidad, requiring legal intervention to protect your clients’ interests.
• Your company considers a merger, acquisition or restructuring and you require due diligence, accounting consolidation rules, and compliance with local corporate governance requirements.

In Puerto del Rosario, several matters benefit from local context plus national rules, such as ensuring filings with the Registro Mercantil are timely and accurate. An attorney specializing in accounting and auditing can help you prepare the right documentation, meet deadlines, and avoid penalties for non-compliance.

3. Local Laws Overview

The following laws and regulations govern Accounting & Auditing in Puerto del Rosario, with notes on their scope and any applicable dates or changes. This section uses jurisdiction-specific terminology relevant to Spain and the Canary Islands.

Plan General de Contabilidad

The Plan General de Contabilidad (PGC) is the backbone for financial reporting in Spain. It establishes the accounting principles, valuation rules, and disclosure requirements for most companies. Real Decreto 1514/2007, de 28 de diciembre, approves the PGC and its accompanying standards. The PGC is periodically updated by the ICAC to reflect new accounting practices and European standards.

“The Plan General de Contabilidad provides the set of accounting standards that govern the recording, valuation, and presentation of financial statements in Spain.”

All Puerto del Rosario businesses that prepare annual accounts use the PGC as the framework for their books, with possible simplifications for micro and small entities outlined within the associated sections. For more details, consult the ICAC resources and the AEAT guidance on how to apply accounting rules to tax obligations.

Ley de Auditoría de Cuentas

The Ley de Auditoría de Cuentas regulates external audits of annual accounts, the independence of auditors, and the framework for audit engagement. Ley 22/2015, de 20 de julio, modernized audit requirements and aligned Spain with EU directives. The law outlines who must be audited, who can be an auditor, and how audits are carried out.

“Auditors must maintain independence and follow strict professional standards when reviewing financial statements.”

In practice, many large Spanish entities and certain medium-sized companies are subject to external audits. In Puerto del Rosario and the Canary Islands, a local legal adviser can help determine whether your company needs a statutory audit and guide you through the engagement process with a registered auditor.

Código de Comercio (Texto Vigente)

The Código de Comercio governs mercantile transactions, accounting records, and the legal obligations surrounding books and annual accounts. It provides the framework for keeping the Diario, el Libro de Inventarios y Cuentas, and other financial records. The Code has been amended many times, but its core requirement that commercial entities keep proper books remains in force across Spain, including Puerto del Rosario.

“The Código de Comercio sets out the basic requirements for accounting books and commercial transactions in Spain.”

For precise text and current interpretations, the official texts are published by the national ministries and the ICAC, with guidance available from local Registro Mercantil offices in the Canary Islands.

4. Frequently Asked Questions

What is the Plan General de Contabilidad and who must follow it?

The Plan General de Contabilidad provides standard rules for recording, valuing, and presenting financial information. Almost all Spanish companies must follow it, with simpler rules for micro-enterprises.

How do I know if my Puerto del Rosario company needs an external audit?

Audit requirements depend on entity type, size, and activity. Public interest entities always require audits; some private companies must audit if they meet certain thresholds. A local abogado can assess your situation.

What is IGIC and how does it affect my accounting records?

IGIC is the Canary Islands indirect tax. It replaces VAT for most transactions within the Canaries. You must reflect IGIC in your accounting and tax filings as dictated by Canary Islands regulations.

What are the steps to file annual accounts in the Registro Mercantil?

Prepare the annual accounts according to the PGC, have them reviewed or audited as required, and submit to the Registro Mercantil of Las Palmas or your provincial office. Deadlines apply each year.

Do I need a local abogado to handle accounting and auditing matters?

While not always required, a local abogado with accounting and auditing expertise helps navigate Canarian specifics, deadlines, and interactions with the Registro Mercantil and tax authorities.

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

An auditor provides an independent examination of financial statements. An accountant prepares the books and reports under the PGC. Both roles may be necessary for compliance and decision making.

How long does an external audit typically take for a Canarian company?

Audit duration depends on company size and complexity. A mid-size can be 4-8 weeks from planning to final report; smaller entities may finish faster. Your auditor will provide a schedule.

Can I change auditors mid-year without penalties?

Auditor changes are possible but require proper engagement terms and regulatory steps. Your legal counsel can ensure a smooth transition and protect ongoing compliance.

What costs should I expect for auditing services in Puerto del Rosario?

Auditing fees vary by turnover, scope, and complexity. Typical ranges cover planning, fieldwork, and reporting. Request detailed proposals to compare services and fees.

What so I need to know about penalties for non-compliance with PGC?

Poor compliance can lead to administrative penalties, restatements, or market regulator actions. A local abogado can help you implement remedial measures quickly.

Is there a difference between a ROC and a standard auditor?

ROCs are recognized auditors required by law in certain contexts. The term and status depend on regulatory updates and whether you fall under mandatory audit rules.

5. Additional Resources

Access to authoritative sources is essential for accurate accounting and auditing practice in Puerto del Rosario. The following resources provide official guidance and current standards.

• ICAC - Instituto de Contabilidad y Auditoría de Cuentas - Official source for accounting standards and auditing regulations in Spain. https://www.icac.gob.es
• Agencia Tributaria - Spanish tax authority with guidance on how accounting interacts with tax obligations, including IGIC considerations for the Canary Islands. https://www.agenciatributaria.gob.es
• Registradores de España - Official portal for Registro Mercantil and related filings, including annual accounts submissions and corporate records. https://www.registradores.gob.es

These resources help you understand current standards, filing obligations, and where to seek official forms and guidance. For local steps, your attorney can interpret these resources for your Canary Islands business context.

6. Next Steps

1. Clarify your issue and goals. Write a brief description of what you need from a lawyer in Puerto del Rosario (eg, audit readiness, IFRS interpretation, IGIC compliance).
2. Gather key documents. Prepare your most recent accounts, contracts, tax filings, and any prior audit reports.
3. Search for a specialist in Accounting & Auditing. Prioritize lawyers or firms with Canarian experience and references in Puerto del Rosario or Las Palmas province.
4. Request consultations and fee estimates. Ask for a written engagement letter outlining scope, fees, and timelines.
5. Check credentials and references. Verify license status and ask for client references who faced similar issues in the Canaries.
6. Draft a plan with your lawyer. Create a timeline that aligns with your fiscal year, audit deadlines, and Registro Mercantil filings.
7. Engage and monitor progress. Sign the engagement letter, provide requested documents promptly, and schedule regular check-ins to track milestones.