Auditing

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Today, many companies turn to the services of independent auditors. After all, their owners and investors want to know how things really are at the company. For this purpose, audits are ordered. As a rule, they are engaged in special companies that operate in this area. Such organizations employ not only auditors, but also accountants, lawyers and financial analysts.

Depending on the requirements of the legislation and the needs of business entities distinguish between mandatory and initiative audit.

Mandatory audit

This type of audit involves passing annual audits in accordance with the requirements of the legislation. Mandatory audits are conducted to confirm the reliability of the company's financial statements.

For some types of companies, this type of audit is mandatory. These include, in particular:

• financial institutions;
• companies operating on the securities market;
• investment funds;
• insurance companies;
• public joint stock companies and legal entities - founders of PAT.

In accordance with the amendments to the Law on Accounting, which came into force on 01.01.2018, the list was supplemented by medium and large enterprises.

Initiative audit

Initiative audit is carried out at the request of the owner or manager of the company. The procedure includes the verification of accounting, the compliance of reporting with the actual state of affairs in the company, the existence of declared liabilities and assets. Tax audit is a sub-species of initiative audit.

Initiative audit is used before tax audits, in order to assess the work of the accounting department by the owner, when changing the chief accountant, when wishing to attract investment or credit funds, etc.

The audit may concern both the whole time of the company's work and a certain time period.

What audits include

• Analysis of accounting and tax accounting.
• Calculating the correctness of the calculation of the amount of taxes that are paid to the state budget.
• Determination of the state of accounts receivable and payable.
• Evaluation of property and liabilities.
• Examination, legal and economic, contracts in the field of civil-law relations.
• Analysis of the efficiency of the use of financial and material resources at the enterprise.
• Evaluation of the internal control system.
• Identification of risky operations that threaten to be held liable.

If your company needs an audit - contact Legal Solutions. We have experienced accountants, auditors, lawyers who will perform the work qualitatively and strictly within the agreed terms.

We can calculate the cost of the audit after receiving information from you about the economic activities of your company, determining the scope and time of work. Each application of the client we consider individually. The exact amount is negotiated at a personal meeting or during consultation remotely.

What you get by ordering a service from us

• Independent expert opinion.
• Analysis of financial and economic activity of your company.
• Calculations and indicators obtained during the audit.
• Information about the identified violations, as well as recommendations for their elimination.
• The opportunity to eliminate existing violations in time, before the tax audit and avoid penalties.

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