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Бухгалтер

Financial audit is an independent audit of the company’s financial statements.

It is carried out voluntarily to determine how correctly the company conducts financial, managerial and tax accounting. And assess the risks that threaten for non-compliance with the requirements of the law.

In form, this type of audit is similar to the audit or control audit that the tax authorities carry out. And they have one goal – to identify errors in the accounting.

But if these errors are found by the tax authorities, the enterprise can be punished with significant fines. And if they are found in a voluntary audit, the auditors will write recommendations on the elimination of all the shortcomings and will prompt how to avoid problems with the tax service.

An audit can be initiated by the director general of the enterprise to check whether the chief accountant keeps records in good faith. After all, employees of the financial service often make mistakes, and the general director has to answer for them.

Shareholders are often interested in the audit, especially, if they do not trust the general director very much and suspect him of financial fraud.

Investors may require the audit  before deciding whether to invest in the development of the company’s funds.

In any case, such checks are very useful and lead to the improvement of financial accounting. And certified experts of the Chamber of Commerce and Industry are ready to conduct for you an audit of any complexity.

The audit is carried out in accordance with Federal Law No. 307-FZ dated 30.12.2008 “On Auditing”.

MAIN TYPES AUDIT

At such check the auditor studies only separate operations, instead of all financial documents of the company. This is especially important in the conclusion of complex transactions that require a detailed evaluation of each financial transaction.

With a special audit can be checked:

  • Foreign economic contracts, including the correctness of the reflection of financial transactions conducted under these contracts.
  • Activity with securities.
  • Verification of the activities of the enterprise for compliance with environmental legislation.
  • Other types of the organization’s activities at the request of the customer.

The company’s accounting and tax reports are audited. The auditor is examining whether the taxes were correctly considered, whether there were technical or accidental errors that would result in unforeseeable tax debts and huge fines.

The parameters of the goods sold on the market are compared with the sample merchandise. Consumer expectations, shortcomings and advantages of the sample are estimated, its price is recommended.

Buying a business, you need to make sure that you take not a pig in a poke, but a company with promised financial indicators. After all, fraudster sellers can keep silent that the company has debts to counterparties or tax authorities. It is very difficult for a layman to understand the financial statements in order to assess the risks.

To protect yourself from fraud, when buying a ready-made business, it is desirable to conduct an express audit of financial statements. Our specialists have extensive experience in such checks and know which violations to look for first.

The analysis of acts and decisions of tax authorities is conducted with the purpose of exclusion to the imposition of fines and penalties; illegal claims and for the opportunity to challenge the decisions of the tax authority in a higher authority or in court.

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