EY Poland’s article from 30 October 2026 details the mandatory audit requirement for all family foundations in Poland. Under the Family Foundations Act, every foundation must undergo a statutory audit at least once every four financial years. The article explains what the auditor evaluates (financial statements, compliance with statutes, asset protection), how to prepare documentation, and how to select an independent auditor. It also warns of penalties for non-compliance, including potential dissolution of the foundation. This guidance is essential for family office advisors and foundation board members.
Key Takeaways
- Audit Cycle: The first audit must occur within four years of foundation registration; subsequent audits at least every four years thereafter.
- Auditor Independence: The auditor cannot be a founder, board member, beneficiary, or related party; must be a registered statutory auditor.
- Preparation Checklist: Foundations should maintain organized accounting records, asset registers, beneficiary distributions, and governance minutes year-round to streamline the audit.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement