Debt audit

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The activity of any enterprise, both small and large, is associated with the continuous movement of material assets, resulting in accounts payable and receivable. Debts are formed as a result of sale and purchase agreements, offsetting of mutual claims, barter operations, etc. And they should be correctly reflected in the financial statements.

Correct reflection of mutual settlements with suppliers and buyers is important for the company, as the amounts of balance sheet balances affect its solvency, financial position and investment attractiveness.

In order to be sure of the correctness and reliability of reporting on settlements, managers and business owners turn to auditors for help. The main purpose of a debt audit is to check the balances of settlement accounts. Audits are performed as part of both mandatory and initiative audits.

Conducting an audit of accounts receivable and accounts payable requires knowledge in the field of accounting and tax accounting, as well as civil legislation. Legal Solutions employs qualified lawyers, accountants, auditors who will perform their work at the highest level. We provide audit services, steadfastly adhering to legislative norms and guarantee non-disclosure of information provided by clients.

Accounts payable include debts:

• Loans and borrowings.
• To suppliers and contractors.
• To the budget and state non-budgetary funds.
• Payments to personnel.
• Other creditors.

Accounts receivable include debts:

• For goods, works, services.
• On received promissory notes.
• Overpayment of taxes and other contributions to the budget.
• On issued advances.
• Debts of branches, subsidiaries.
• Non-return of monetary funds issued to an accountable person.
• What includes the audit of accounts payable and receivable
• Checking the documents that confirm your right to reflect debts.
• Identification of all debts of the enterprise to customers and suppliers.
• Determining when accounts receivable and accounts payable occurred.
• Verification of debts with expired statute of limitations.
• Analyzing the correctness of documents.

What you will get as a result of the audit

• An auditor's report on the correctness and reliability of the accounting records of the enterprise.
• A list of errors and deficiencies identified during the audit.
• Recommendations for their elimination.

Why you should order the service from us

What you get when you hand this matter to us:

• We take on the whole job. Documents, filings, correspondence with the authorities and official queries are on us. We need your decisions and signatures, and we call when your input really matters.
• Refusals and queries are our job. If a registrar, the tax office or a bank sends documents back, we revise and refile, appealing where needed, at no extra charge until the matter is closed.
• One person in charge, start to finish. The same person runs your matter even when the process takes months. You always know who is responsible and where things stand.
• A boutique, involved in every case. An experienced specialist handles your matter personally, backed by the group's 14 years of practice in 50+ countries. Non-standard matters are our field: where you have been told it cannot be done, we look for a lawful way.
• Your affairs stay yours. Information about you, your company and your deals reaches neither competitors nor third parties. We disclose only what the law or the procedure requires, and the contract says so.
• Faster and cleaner, first time. Full involvement and an individual approach to every matter keep things moving faster and cleaner. Fourteen years of practice let us get right the first time what takes some firms three attempts.

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