Initiative audit is conducted only on the entity’s own initiative and allows obtaining objective information from independent experts (auditors) about the entity’s financial and business activities.
Audit of financial statements implies examination of annual financial statements of an entity or its individual components to express an independent auditor's opinion on their compliance with the set out criteria and general rules in accordance with the applicable framework (Ukrainian GAAP, IFRS, US GAAP, etc.).
Audit of the financial statements will help the company in the following issues:
- Evaluation of the effectiveness of accounting and internal control;
- Identification of violations of the current legislation and assessment of potential risks;
- Determination of profitable and unprofitable activities.
As the result of our audit the following documents will be issued:
- Auditor's report on reliability of the financial statements and their compliance with the set out criteria and general rules of the applicable framework;
- Report (in form of Management letter) on problem issues identified as the result of the audit with our conclusions and recommendations how to eliminate the identified deviations and that MAKES IT POSSIBLE for the entity to identify errors and mistakes in a timely manner, to MINIMIZE FINANCIAL RISKS and to find reserves to increase effectiveness of the entity's activities.
When performing our audit we use methods and approaches resulted from our practice, which allow us to conduct the audit of the entities' financial statements within an optimal time-frame. .
During our work we follow International Standards on Auditing (ISA), the legislation regulating audit activity in Ukraine.