Most commonly a mandatory audit is carried out to confirm the public financial statements of business entities in accordance with the law. The result of the mandatory audit is of interest to shareholders, owners, investors, and regulators.
The mandatory audit usually involves a long-term interaction between audit company and the customer. In addition, you can order:
- quarterly accounting checks on regular basis according to a pre-approved schedule with in-depth analysis of settlements with the budget and social insurance funds;
- financial statements preparation and correctness control
- transformation of financial statements in accordance with the requirements of International Financial Reporting Standards (IFRS).
The cost of auditing the financial statements of an enterprise is set taking into account the time required for the mandatory execution of a complete package of working documents of the auditor, which is drawn up based on the results of an audit of a business entity.
Company could also provide an auditor's opinion on the Management Report, which issuers of securities submit to the National Securities and Stock Market Commission, starting with the report for 2018, as part of the annual report, in accordance with the requirements of Art. 401 of Law of Ukraine "On Securities and Stock Market".
Usually, a voluntary audit precedes a tax inspection. In this case, an audit is one of the best ways to ensure the safety of managers and employees of the accounting department of the enterprise from the encroachments of regulatory authorities.
On the part of our company, the work is always performed with an eye to the "zero" result of tax inspection. What does this mean?
Among our clients there are enterprises that, over the course of several years of working with us, have not paid a dime based on the results of inspections, since the tax authorities left with “zero” acts. Of course, an important factor affecting the absence of payments for unreasonable tax requirements is the adherence to principles of the enterprise management. We advise you to save money!
When ordering an voluntary audit, you get:
- checking the correctness of accounting in accordance with Accounting Standard or IFRS;
- check of correctness of declaration and payment of all obligatory payments;
- representing the interests of the enterprise during inspections by regulatory authorities, as well as, if necessary, in court;
- free consultations on communication with representatives of the tax inspection;
- discounts for consultations.
An independent auditor’s opinion usually required on any issue related to the company's activities. For example, it could be:
- qualified assessment of accounting personnel,
- presence during the inventory and assessment of the correctness of its conduct,
- analysis of individual specific issues of business activity,
- drawing up orders on the accounting policy of the enterprise in accordance with Accounting Standard or IFRS,
- and other tasks, the solution of which requires the opinion or presence of an independent auditor.
Commonly, an audit is carried out on the territory of the customer's enterprise by a team of several specialists. This is the most preferred option, providing the highest speed of work, and, therefore, the lowest cost, since our employees work in close contact with employees of the company's accounting department.
We can also accept primary documents and accounting registers with the compilation of an inventory and carry out documentary verification without leaving the enterprise. In this case, the necessary interaction with the accounting service is carried out by phone, email or couriers.
Any of our work ends with the submission of a report. All identified deviations are indicated in the report, their quantitative and qualitative assessment is given, as well as recommendations for correcting these deviations.
The cost of services depends on the type of service, the amount of work and the time required and actually spent on the work.