Accounting and auditing services

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See also

• Auditing
• Tax audit
• Maintaining accounting records (outsourcing)
• Accounting services in the UK

What this section covers

Accounting and auditing services bring together everything a company needs to keep its books in order and to confirm that the numbers hold up when someone examines them. On one side is day-to-day work: primary documents, payroll, tax calculations, reporting to the authorities. On the other side is independent review: a statutory audit of financial statements, a review engagement, a tax audit carried out before the tax authority arrives. Ukrainian companies, foreign-owned subsidiaries and representative offices all use both sides, and the boundary between them matters, because the same team cannot keep the books and then audit them.

Bookkeeping and reporting

Outsourced accounting covers the full cycle: setting up the accounting policy, processing primary documents, payroll and related payments, preparing and filing financial and tax reporting, and answering questions from the authorities about what was filed. Companies move to this model for two reasons — a small business avoids the cost of an in-house team, and a foreign-owned company gets reporting prepared to local rules by people who file it every month. Sector practice differs, so transport, hospitality and IT are handled by teams familiar with the documents those sectors generate.

Audit and review

An audit answers a different question: whether the statements present the position of the company fairly. A statutory audit is required for certain categories of company, and its result is used by banks, investors and counterparties. A review engagement is lighter in scope and suits internal or shareholder needs. A tax audit performed in advance shows where a future inspection is likely to raise questions while there is still time to correct the documents.

What we need from you to start

A short package is enough for the first conversation: registration documents of the company, the current accounting policy if one exists, the last filed reporting set, access to the accounting system or the working database, and a description of the main contracts and counterparties. From that we confirm the scope, the sequence of work and who does what on your side.

Where to go next

Pick the service that matches your task: maintaining accounting records (outsourcing), auditing, statutory audit of financial statements, tax audit, financial reporting (tax reporting), audit before tax audit. Sector pages cover transport companies and hotels and hostels.

Frequently asked

Can one provider keep the books and audit them?

Bookkeeping and the independent audit of the same statements are kept separate, so the review is performed by a party that did not prepare the records.

What does outsourced accounting include?

Setting up the accounting policy, processing primary documents, payroll, preparing and filing financial and tax reporting, and handling questions about what was filed.

Why run a tax audit before an inspection?

It shows where an inspection is likely to raise questions while the documents can still be corrected.

Restoring records that fell behind

A separate task comes up often enough to name it: the books exist on paper but not in a usable state. Documents are missing, entries stop at some month, the balance no longer ties to the bank. Restoration starts by rebuilding the picture from bank statements and counterparty documents, then filling the gaps with duplicates requested from suppliers and customers, and finally correcting the filed reporting where the corrections are still possible. It is slower than routine bookkeeping and it is the work that puts a company back in a position to be audited, sold or financed.

Who typically needs this section

Four situations account for most requests. A company preparing for a bank facility or an investor, where statements must be confirmed by an independent auditor. A foreign parent that needs local reporting prepared and explained in English. A business changing accountants, where the handover has to be documented so responsibility is clear. And a company expecting an inspection, where a review in advance is cheaper than a dispute afterwards.

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