1.(a) Companies must have their annual accounts audited by one or more persons authorized by national law to audit accounts. (b) The person or persons responsible for auditing the accounts must also verify that the annual report is consistent with the annual accounts for the same financial year.
2.The Member States may relieve the companies referred to in Article 11 from the obligation imposed by paragraph 1. Article 12 shall apply.
3.Where the exemption provided for in paragraph 2 is granted the Member States shall introduce appropriate sanctions into their laws for cases in which the annual accounts or the annual reports of such companies are not drawn up in accordance with the requirements of this Directive.