Best Accounting & Auditing Lawyers in Thivais

About Accounting & Auditing Law in Thivais, Greece

Accounting and auditing in Thivais operate under national Greek and European Union rules that apply uniformly across the country. Businesses and professionals in Thivais must maintain statutory books and records, prepare financial statements in accordance with Greek Accounting Standards or International Financial Reporting Standards when applicable, and comply with tax and reporting obligations administered by the Independent Authority for Public Revenue. Statutory audits are carried out by licensed statutory auditors, under the supervision of the Hellenic Accounting and Auditing Standards Oversight Board. In practice, this national framework is supported locally through the regional tax office network, the General Commercial Registry service unit of the local Chamber of Commerce, and regional labor and social security offices that interact with businesses on payroll and compliance matters.

Because Thivais is part of the Boeotia regional unit, company formation, changes to company particulars, filings with the General Commercial Registry, and tax compliance are handled through the same national portals and authorities used throughout Greece, with physical support from local or regional offices. This combination of national rules and local administration creates a predictable but detailed compliance environment where timely filings, accurate bookkeeping, and clear documentation are essential.

Why You May Need a Lawyer

A lawyer with experience in accounting and auditing can protect your position before issues turn into penalties or disputes. Common reasons to seek legal help include choosing the right legal entity and accounting framework at start up, structuring shareholder agreements that reflect financial and audit obligations, implementing internal controls, and drafting robust engagement letters with accountants or auditors. When AADE initiates a tax audit or requests documentation, a lawyer can manage communications, assert your procedural rights, and coordinate with your accountant to present evidence effectively.

Other situations that benefit from legal guidance include statutory audit readiness and responses to audit findings, IFRS adoption for groups or listed company subsidiaries, transfer pricing documentation for related party transactions, cross border VAT and customs issues, data protection for financial records, whistleblowing and investigations into suspected irregularities, compliance with anti money laundering rules that bind accountants and auditors, vendor and customer disputes tied to invoicing and deliveries, claims involving public subsidies or investment incentives, and corporate transformations or restructurings that require careful accounting and regulatory filings.

Local Laws Overview

Greek Accounting Standards and financial reporting rules are set by Law 4308-2014. Entities are classified by size and reporting requirements, and many private entities use Greek Accounting Standards, while listed companies and some groups apply International Financial Reporting Standards. Financial statements must present a true and fair view and be supported by underlying books and records.

The Income Tax Code is Law 4172-2013 and the Tax Procedure Code is Law 4174-2013. These laws govern corporate and personal income taxation, withholding obligations, assessments, audits, penalties, statute of limitation periods, and the rights and duties of taxpayers. Value added tax is governed primarily by Law 2859-2000. Businesses must issue lawful invoices, account for VAT correctly, and make timely periodic filings.

myDATA is the national electronic bookkeeping framework administered by AADE. Most businesses must transmit invoice data and classifications to myDATA in real time or within set deadlines and keep digital archives consistent with the transmitted information. AADE issues decisions and technical specifications that define how and when data must be transmitted and corrected.

Statutory audits are regulated by Law 4449-2017, which implements European Union audit rules, including independence, quality control, rotation for public interest entities, and reporting standards. Public interest entities include banks, insurers, and listed companies with enhanced oversight. The Hellenic Accounting and Auditing Standards Oversight Board supervises auditors, and licensed statutory auditors are registered professionals subject to quality reviews and disciplinary processes.

Company law defines the governance and reporting obligations for different legal forms. Law 4548-2018 governs societes anonymes, Law 4072-2012 governs private companies, and Law 3190-1955 governs limited liability companies. Corporate actions, financial statement approvals, distributions, mergers, demergers, and transformations must comply with company law and be reflected accurately in accounting records and public filings with the General Commercial Registry.

Anti money laundering compliance is governed by Law 4557-2018. Accountants, tax consultants, and auditors are obliged entities. They must conduct client due diligence, maintain records, assess risk, and report suspicious transactions to the Hellenic Financial Intelligence Unit. Firms must implement internal policies and training to meet these obligations.

Data protection rules for financial and payroll records arise from the EU General Data Protection Regulation and Greek Law 4624-2019. Controllers and processors, including accounting firms and audit practices, must implement appropriate security, limit retention to what is necessary, and respond to data subject rights. Breach notification obligations can apply to financial data incidents.

Transfer pricing rules apply to related party transactions under the Income Tax Code and secondary legislation. Taxpayers that meet criteria must prepare local and sometimes master files and submit a summary information table. Pricing must reflect the arm s length principle and be backed by contemporaneous documentation.

Record retention and archiving obligations require that accounting books, invoices, and related documents be kept for legally prescribed periods. Retention periods vary depending on the document type and legal basis, and can be extended by audits, litigation, public subsidies, or employment matters. Digital records that support myDATA transmissions must also be retained and remain accessible.

Payroll, withholding, and social security contributions are administered through the national systems operated by tax and social insurance authorities. Employers must calculate, withhold, and remit amounts correctly, file statements on time, and maintain accurate personnel and timekeeping records subject to inspection.

Frequently Asked Questions

Do I need to keep my books under Greek GAAP or IFRS

Most private entities in Thivais use Greek Accounting Standards set by Law 4308-2014. Listed companies and some groups prepare consolidated and separate statements under IFRS. Some entities may opt in to IFRS where permitted. The correct framework depends on your legal form, listing status, group structure, and size. A lawyer and your accountant can confirm the applicable framework and any opt in requirements.

What is myDATA and does it apply to my small business in Thivais

myDATA is AADE s electronic books system. Most businesses must transmit income invoices and classify revenue and expenses through the platform within specified timelines. There are limited exemptions and special handling for certain sectors. Even small businesses are generally in scope, so you should verify your obligations, transmission method, and correction procedures with your accountant and legal adviser.

When is a statutory audit required

Audit requirements depend on your company type and size. Medium and large entities, public interest entities, and certain societes anonymes are typically subject to statutory audits under Law 4449-2017. Thresholds are set by law and can change, so you should obtain an up to date assessment against the criteria that apply to your entity.

How long must I keep accounting records

You must retain accounting records for the minimum periods required by tax and accounting laws, and longer when other rules apply such as employment, subsidy, or litigation hold requirements. The base period under tax procedure rules is commonly several years from the end of the relevant year, with extensions in specific circumstances. Confirm the correct retention schedule for each document type and keep both the original and the digital version that supports myDATA transmissions.

What happens during an AADE tax audit and how should I prepare

AADE can request books and records, perform reconciliations to your returns and myDATA transmissions, and question the business purpose of transactions. Preparation involves verifying that invoices are lawful, books match submissions, reconciliations are complete, and supporting documents such as contracts, delivery notes, banking records, and transfer pricing files are organized. A lawyer can manage deadlines, ensure procedural rights, and negotiate proposed adjustments or settlements.

Who regulates auditors in Greece

The Hellenic Accounting and Auditing Standards Oversight Board supervises the audit profession, sets quality control and public oversight measures, and enforces independence and ethical rules. Licensed statutory auditors must also belong to the relevant professional body and comply with auditing and ethical standards.

Can my external accountant also be my statutory auditor

No where independence would be impaired. Statutory auditors must be independent from the audited entity. Providing certain accounting or bookkeeping services to an audit client can create prohibited self review threats, especially for public interest entities. Even for non public interest entities, independence and safeguards rules apply. Separate providers are usually required.

How are related party and transfer pricing rules applied to a small subsidiary in Thivais

Related party transactions must follow the arm s length principle. Depending on size thresholds and transaction values, you may need a local file and summary information table. Even when documentation is not mandatory, pricing must be defensible with comparables and internal analyses. Legal and tax advisers can help assess thresholds, prepare documentation, and align intercompany agreements with actual conduct.

Are electronic invoices and signatures legally valid

Electronic invoicing is recognized under Greek and EU law provided authenticity, integrity, and readability are ensured. myDATA transmissions do not replace the obligation to issue a lawful invoice, but they complement it. Electronic signatures and seals are valid when they meet applicable trust services requirements. Your systems should preserve the electronic original and audit trail.

What should I do if I discover an error in filed returns or financial statements

Act promptly. Many errors can be corrected through amended returns or myDATA adjustments. For published financial statements, you may need a board decision, auditor involvement, and public disclosures depending on materiality. Fast action can reduce penalties and interest and demonstrate good faith. Obtain legal advice before making corrections that affect multiple filings or periods.

Additional Resources

Independent Authority for Public Revenue AADE for tax administration, VAT, income tax, and myDATA obligations. Hellenic Accounting and Auditing Standards Oversight Board for audit regulation and public oversight. Institute of Certified Public Accountants of Greece for professional standards and membership. General Commercial Registry GEMI and the local Chamber of Commerce service unit for company filings. Hellenic Financial Intelligence Unit for anti money laundering reporting. Hellenic Data Protection Authority for GDPR guidance. Hellenic Capital Market Commission for listed company reporting. Ministry of Development and Investments for company law and investment incentives. Unified Social Security Fund EFKA for payroll and contributions. Local tax and labor offices in Boeotia for regional administration support.

Next Steps

Map your obligations. Identify your legal form, accounting framework, VAT status, payroll footprint, intercompany transactions, and whether you meet audit thresholds. List all periodic filings and their deadlines, including myDATA submissions, VAT returns, withholding statements, social security filings, and corporate income tax returns.

Collect documents. Assemble articles of association, board minutes, trial balance, ledger and subledgers, bank statements, contracts, invoices, delivery and receipt notes, asset registers, payroll records, and any prior tax audit reports or correspondence. Ensure you can reconcile financial statements to books, tax returns, and myDATA.

Engage the right professionals. Retain a lawyer experienced in accounting and auditing matters to coordinate with your accountant and, if applicable, your statutory auditor. Agree in writing on scope, deliverables, timelines, and data security. If you are facing an audit or investigation, instruct counsel to handle communications with authorities.

Tighten controls. Implement documented procedures for invoice approval, segregation of duties, inventory counts, cash management, and month end close. Validate that your invoicing and ERP systems transmit complete and accurate data to myDATA and that you have a clear correction process.

Plan for contingencies. Establish a calendar for all filings, a retention schedule for records, and an incident response plan for data breaches or suspected irregularities. Review insurance coverage for professional liability and cyber risks where appropriate.

Act early. Many tax and corporate procedures have strict deadlines and limitation periods that can be extended by specific events. Early legal advice in Thivais can prevent problems, reduce penalties, and preserve your rights while keeping your business compliant and audit ready.