Minna Ainasvuori
Partner; Director, Audit & Assurance Services
We are a leading audit firm for property and housing companies in Finland. We serve your property company, limited liability housing company, housing company or right-of-occupancy association with extensive experience and professional expertise.
Our experts serve housing companies, meaning limited liability housing companies and property companies, in audit-related matters. Get in touch with us to talk about auditing your limited liability housing company!
When does a limited liability property company or housing company need to have an auditor?
A limited liability housing company or property company is required to appoint an authorised KHT or HT auditor if it includes at least 30 apartments controlled by shareholders, or if a sufficient number of shareholders requires that an auditor be appointed. The Auditing Act, the Limited Liability Companies Act or the company’s Articles of Association may also create an obligation to appoint an auditor in certain situations.
As a rule, a company with less than 30 apartments can operate without the continuous auditing of its accounts or operations. However, securing the services of an auditor can be advantageous particularly if the limited liability property company or housing company is undergoing major renovation or has significant loans. In such circumstances, an auditor can help the shareholders confirm the appropriate accounting treatment of construction work or the calculation of loan shares, for example.
In some instances, major renovation projects also lead to the limits stipulated by the Auditing Act for requiring an auditor being exceeded in two consecutive financial periods due to the renovation period and the subsequent increase in the sums paid in the form of monthly charges or one-off payments.