Atlas · Governance
Independent audit is mandatory above BRL 240 million in assets or BRL 300 million in revenue
AnswerUnder Brazilian law, an independent audit is mandatory for listed companies and for large companies: total assets above BRL 240 million or annual gross revenue above BRL 300 million in the prior fiscal year.
Reviewed on 2026-10-02 · next review 2027-04-02
Data
| Who | Criterion | Consequence | Source | Data date |
|---|---|---|---|---|
| Listed company | Being a listed company | Financial statements audited by independent auditors registered with the CVM | Law 6,404/1976, art. 177, para. 3 | 27/05/2009 (wording of Law 11,941) |
| Large company | Total assets above BRL 240,000,000.00 in the prior fiscal year | The rules of Law 6,404 apply, including independent audit by an auditor registered with the CVM | Law 11,638/2007, art. 3 and sole paragraph | 28/12/2007 |
| Large company | Annual gross revenue above BRL 300,000,000.00 in the prior fiscal year | Same consequence | Law 11,638/2007, art. 3 and sole paragraph | 28/12/2007 |
Data consulted on 02/10/2026.
Basis
- Law 11,638/2007 (Planalto, in Portuguese): art. 3 extends to large companies, even if not corporations, the provisions of Law 6,404 on bookkeeping, financial statements and mandatory independent audit; the sole paragraph defines "large".
- Law 6,404/1976, consolidated (Planalto, in Portuguese): art. 177, para. 3, requires listed companies' statements to follow CVM rules and to be audited by independent auditors registered with the CVM.
How it applies
Two doors lead to the obligation. The first is being a listed company. The second is being a large company, even without being a corporation: it is enough that the company, or the group under common control, exceeded one of the two limits in the prior fiscal year. The law's "or" means one criterion is enough: total assets above BRL 240 million, or annual gross revenue above BRL 300 million.
Limits
- The definition of "large" applies, under the law, "for the exclusive purposes" of Law 11,638/2007.
- The amounts are those of 2007; the text read carries no monetary adjustment.
- This sheet covers only this legal obligation; audits required by contract, by a sector regulator or chosen by the company follow other rules.
- The versions read are those published by Planalto; later amendments must be checked with Planalto and the CVM before any decision.