Financial Statement Audit
We perform all or some financial and/or management accounting functions at your company (group).
We conduct audits of financial statements and assurance engagements under the Law of Ukraine and IAASB International Standards for Quality Control, Auditing, Review, and Assurance Services.
- statutory or voluntary audit of financial statements prepared in accordance with a relevant conceptual framework (IFRS / US GAAP / National Ukrainian Standards, etc.)
- other assurance engagements ‒ for instance, financial statements review as requested by owners, potential investors or creditors
A voluntary audit is different from a statutory audit. It is performed at the customer request and is not obligatory by Ukrainian laws. We perform voluntary audits of financial statements and other assurance tasks in compliance with International standards on auditing ‒ exactly like we do statutory audits.
The initiative may come from owners or interested parties, including potential buyers, creditors, suppliers, and parent company management.
In this case, our primary aim is to offer honest and professional responses to client inquiries regarding financial conditions and management systems.
All the topics that usually arise can be grouped by the following areas:
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Financial conditions and financial results
What is the financial position of the entity? What financial results were actually achieved? And, the most important ones: what are the prospects of the entity comparing to its competitors ‒ can it yield a profit margin comparable to competitors’?
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Risks
What risks (both external and internal) threaten the entity’s activities and how to minimize their impact. What is the state of the entity’s internal control, budgeting and management accounting systems, how effective and efficient they are?
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Internal control
Does it work effectively, making it impossible for management personnel to commit fraud, waste resources, and derive benefits from it?
Our company has 20 years of experience in the audit market.
We have a seasoned team of auditors with extensive experience in auditing financial statements per National Ukrainian Standards, IFRS, and US GAAP.”
We approach all audit issues with relevant professional judgment and professional scepticism. We perform all audit stages following the guidelines and requirements of the International Standards on Auditing.
The audit price for your company can be determined only after negotiations. This determination process should align with all the ISA 210 ‘Agreeing the Terms of Audit Engagements’ requirements.