Sitval: Auditor Refuses Accounts for Second Year Due to ITV Doubts

The Valencian Vehicle Inspection Company fails to get approval over asset valuation and detects salary discrepancies.

Generic image of vehicle inspection equipment.
IA

Generic image of vehicle inspection equipment.

The Valencian Vehicle Inspection Company (Sitval) once again faces opposition from auditor Faura-Casas, who for the second consecutive year has denied an opinion on its annual accounts.

The public company responsible for technical vehicle inspections (ITV) in the Valencian Community, Sitval, has closed the fiscal year without the endorsement of its auditors for the second year in a row. Auditor Faura-Casas has expressed doubts regarding the accounting of ITV stations owned by the Generalitat, an issue already flagged in the 2024 accounts. Furthermore, deviations in remuneration paid to part of the staff compared to limits authorized by the Treasury have been detected.
The main problem lies in the lack of formalization of the assignment of the 31 stations that Sitval manages. Although the process for formal transfer of use has not yet been completed, the company maintains a global amount of 154 million euros accounted for, valued at 137 million net after depreciation. The auditor questions this procedure, considering it does not comply with accounting methods for valuing assets assigned to a public company, thus preventing the determination of the real value and necessary adjustments.
The labor issue also remains a key point. Although Sitval received a favorable report on its Workplaces List and the Directorate General of Budgets authorized maximum remuneration for 926 positions, the auditor has detected deviations both upwards and downwards in the amounts received by employees. The report warns that adjustments to unauthorized amounts may be necessary, although it does not quantify the differences or the number of affected individuals.
Labor costs represent the main expense item for Sitval, with 54.07 million euros allocated to personnel during 2025, a 5.4% increase from the previous year. This increase, along with a 2.4% rise in turnover (to 70.61 million), has led to a 17.6% decrease in net profit, standing at 5.77 million euros.
Sitval's activity has grown, with approximately 2,046,522 inspections carried out, a 5% increase from the previous year. The operational network includes 30 fixed stations, 102 inspection lines, and ten mobile units. 320,592 vehicles were found with serious defects (15.7%), of which 80,148 had emission-related problems.
Regarding customer service, Sitval claims to have improved, receiving 1,640 complaints (70% less) and 349 claims (0.5% more). The company attributes this to the optimization of the appointment system and digital channels, although the report does not provide specific data on waiting times.
The ambiguity in the transfer of stations to Sitval persists, three years after the return to public management. Ivace still needs to define the transfer modality and counter-performances. Sitval defends its asset valuation based on the discount of future cash flows, a criterion that the auditor considers contrary to accounting rules applicable to public assets.
Despite accounting uncertainties, Sitval has continued with technological modernization, replacing 263 obsolete computer equipment and advancing in network renewal and video surveillance systems. Investment in tangible and intangible fixed assets amounted to around 718,000 euros.