Initial and Relevant Obligations of a European Economic Interest Grouping (EEIG)

Every EEIG has the duty to keep accounting books, in accordance with acceptable accounting principles, which are audited in accordance with acceptable auditing principles by a person licensed to be appointed as company auditor, according to the Companies Law.

Such books must correctly and accurately explain all transactions of the EEIG and allow for the determination of the financial state of its business at any given moment.

The said books must include daily entries regarding the following:

• sufficient details of all monetary sums received and paid;
• accounts of all goods sold;
• sufficient description of all goods sold and purchased;
• details of supplier or purchaser of goods, and annual inventory reports.