Audit in Lithuania

Audit is the smallest service on Accountanty for Lithuania. A young company with a few customers will usually need an accountant long before it needs an auditor. An audit becomes relevant when the company grows past the size at which Lithuanian law requires one, when a licence or regulator asks for audited statements, or when an investor, lender or parent group wants them. Audited or not, every company files its annual financial statements with the Register of Legal Entities. Ask a firm to check your figures against the audit thresholds before the year ends.

Firms offering audit in Lithuania

Questions for a Lithuanian auditor

Ask any practice whether it is registered to carry out statutory audits in Lithuania and who will sign your report. Since the auditor must be independent of the people who keep your books, expect a separate firm or at least a separate team. If your company is a payment or electronic money institution, a fund or another regulated business, ask how many audits of that kind the firm has done. Ask in which language the report is issued, when the firm needs the closed books, and whether the fee is fixed or depends on the state of the records.

Firms on Accountanty

Accountanty lists 11 firms in Lithuania that offer audit: ten accounting firms and one law firm. Six are small practices and five belong to large networks. Lithuanian is offered by seven, English by six and Russian by two, and three say foreign clients are a focus. Fintech is the sector named most often, by four firms. Ten of the 11 are in Vilnius and one in Kaunas. An audit starts from the books, so see also accounting in Lithuania.

Frequently asked questions

Does every Lithuanian company need an audit?

No. Smaller companies are usually exempt, and the obligation depends on size thresholds set by law, on any licence the company holds and on what investors or lenders ask for. A firm can check your case.

Can my accountant also audit my company?

Not without breaking the independence that an audit requires. Expect the audit to be done by a different firm, or by a separate team with its own partner, and ask how the firm keeps the roles apart.

Can I get an audit report in English?

Six of the 11 firms on this page offer English, and large networks often issue reports in English for foreign parents. Confirm the language before you sign the engagement letter.

Other services in Lithuania

Accountants by city in Lithuania

Setting up a company in Lithuania: the guide and every firm

General information, not legal or tax advice. Rules, rates and fees change: check them with the official sources linked on this page or with a qualified adviser before you act.