According to the Law on Audit, the organizations required to audit their financial statements vary depending on the organization's field of activity. Joint-stock companies must undergo an audit two weeks or less before the shareholders' meeting, reorganized companies must undergo an audit one month before the change, banking institutions must undergo an audit by March 31 of the next financial year, and other institutions must undergo an audit by April 30 of the next financial year. It is a legal requirement to have the financial statements audited.