What is auditing?

An audit is an examination and verification of a company’s financial and accounting records and supporting documents by a professional, such as a Certified Public Accountant.

What are the audit processes in Tunisia?

Appointment of statutory auditors is mandatory for legal entities if the company exceeds two of the following thresholds:

• Total assets: 100,000 dinars
• Total revenues excluding taxes: 300,000 dinars
• Average number of employees: 10 employees

The statutory auditor should be registered with the Tunisian Chartered Accountants institute (OECT) if the legal entity is a credit institution, an investment fund, a company listed on the Tunisian stock exchange, a public institution, an association authorized to grant microcredit or a company that exceeds two of the following thresholds:

• Total assets: 1,500,000 dinars
• Total revenues excluding taxes: 2,000,000 dinars
• Average number of employees: 30 employees

The legal entity should appoint a second auditor if it is a credit institution, a multiline insurance company, a company with consolidated assets exceeding one hundred million dinars or a company with bank commitments and outstanding bonds exceeding twenty five million dinars.