Audit of financial statements in accordance with Ukrainian national standards and IFRS
Our company is ready to conduct a full audit of the financial statements of the client organization, taking into account all legal requirements. Financial audit is carried out in accordance with generally accepted international standards in force in Ukraine.
Thus, the specialists of our company will save the client a lot of time and effort, since a high-quality preparation of a financial audit usually takes from two weeks to three months.
In Ukraine, the companies carry out an audit of financial statements either at the initiative of the owner of the company, or as part of an annual legislative audit of organizations’ reports, or in order to achieve other business goals (mitigating litigation risks, reorganizing a company, buying an existing business, entering new markets, entering IPO). EBS Consulting Company offers services of auditing companies’ financial statements and accounting.
Many years of experience of the company’s specialists, as well as deep knowledge of international and Ukrainian accounting, guarantee the most complete and accurate review of financial statements with the identification of all kinds of financial risks (tax, legal, administrative, economic) and significant distortions.
Financial audit: what the service includes.
All clients who turn to our company for help are provided with a wide range of services that will give efficient results. Financial audit services include:
• Review of financial statements prepared in accordance with Ukrainian national standards and IFRS;
• Analysis of accounting policies;
• Analysis of compliance with accounting policies;
• Review of internal control and risk assessment;
• Legal and regulatory compliance;
• Audit of financial statements in accordance with Ukrainian national standards.
An audit includes checking by means of examining evidence supporting the amounts and disclosures in the financial statements. An audit also includes evaluating the accounting principles used and significant accounting estimates made by the management, as well as evaluating the overall presentation of the financial statements.
In addition to the auditor’s report, we prepare a document with the identified most significant deficiencies in the accounting and internal control systems. As a result, the Client receives both an auditor’s opinion on the financial statements and a separate report, which reflects the identified risks or errors and recommendations for their reduction and elimination.
APPROACH TO CONDUCTING AN AUDIT
Our examination of financial statements includes both the above services and other necessary audit procedures, depending on the needs of the Client. Typically, these procedures include:
• Review of records of income and expenses in accounting;
• Review of the reporting of cash and other safeguarded assets;
• Confirmation of receipts and advance payments;
• Visual inspection of property and equipment, review of property accounting;
• Verification of accounts, availability of supporting documents and their disclosure in the reporting;
• Analysis of contracts and agreements;
• Consulting support of the company’s staff regarding the application of general accounting principles;
• Training of company personnel on the application of some general accounting procedures.
Financial audit of the organization: benefits and results
The results of the work during the financial audit of the client company are the transfer of a complete package of documentation, a full report of an independent auditor in accordance with the requirements and standards related to reporting documentation, and a letter to the company’s management personnel. A financial audit of the enterprise, carried out by a team of specialists from the EBS company, will bring many benefits to the customer:
ADVANTAGES OF COOPERATION WITH EBS
• Conducting an audit of financial statements in accordance with UAS (Ukrainian Accounting Standards) and all requirements of the current Ukrainian legislation;
• Providing consultations to the Company’s employees under the contract;
• Minimizing the risk of tax fines and penalties;
• Compliance with absolute confidentiality.
• High quality financial control and audit performed by professionals.
• Report of an independent auditor with at least three years of experience.
• Availability of a complete package of documentation, which can be presented to the donor as confirmation of expenses, or to the management of the organization.
• Saving time and effort on the preparation of reporting documentation.
By contacting our company, you will receive quality services of professional employees as soon as possible.
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