Auditing of local financials. If so, must the auditor be located in local jurisdiction, and must the company's books be kept locally?
Spain
Branch (Sucursal)
The accountancy of the branch is not different from its principal company, but a branch may have its separate accounting and file separate accounts.
Limited liability company (Sociedad Limitada)
Financial statements and, if appropriate, management reports must be reviewed by an auditor qualified to practice in Spain unless the company may issue an abridged balance sheet. The books do not need to be kept locally.
Joint-stock company (Sociedad Anónima)
Financial statements and, if appropriate, management reports must be reviewed by an auditor qualified to practice in Spain unless the company may issue an abridged balance sheet. The books do not need to be kept locally.
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