Financial Audit

Our company is ready to carry out full scale audit of the client’s financial statements taking into account the legislation. Financial audit is carried out according to the common international standards applied in Ukraine.

In such a way our professionals will release the client from the need to spend a lot of time and efforts, because qualitative preparation of the financial audit usually takes from two weeks to three months.

In Ukraine the companies usually carry out audit of the financial statements of the company either upon the owner’s initiative or in the framework of annual legal inspection of the companies’ reports, or in order to achieve other business purposes (reduction of legal fees, company reorganization, purchase of the active business, new market entry, IPO). EBS offers services relating to the audit of the financial statements of the company and accounting.
Many years of experience and profound knowledge of the international and Ukrainian accounting guarantee full and accurate review of the financial statements with detection of all possible financial risks (tax, legal, administrative, economic) and significant distortions.

Financial and economic audit: this service includes the following:

All clients, who address EBS, are provided with a whole range of services, which will have good results. Financial audit services include:

  • Review of the financial statements, made in accordance with the Ukrainian national standards and IAS;
  • Analysis of the accounting policy;
  • Analysis of compliance with the accounting policy;
  • Review of internal control and risk assessment;
  • Compliance with laws and regulations;
  • Limited reports audit procedures in accordance with IAS;
  • Audit of the financial statements in accordance with the national standards.

Audit includes testing of the information, which confirms amounts and display of information in the financial statements. Audit also includes assessment of the applied accounting principles and significant accounting estimate, made by the management personnel, and assessment of financial statements’ submission.

In addition to the audit conclusion we prepare the document with the most significant drawbacks in the accounting and internal control systems. As a result the Client receives a financial statements audit conclusion and a separate report showing drawbacks or errors and recommendations on their reduction or elimination.

AUDIT APPROACH

Our analysis of the financial statements includes the above mentioned services and other necessary audit procedures, depending on the client’s needs. As a rule these procedures include:

  • Review of profits and expenditures in the accounting:
  • Review of reports on cash flows and other protected assets;
  • Confirmation of earnings and advanced payments;
  • Visual inspection of the property and equipment, review of  the accounting and property;
  • Inspection of the accounting records, availability of the supporting documents and their display in the reports;
  • Analysis of the agreements and contracts;
  • Counseling of the personnel on application of the general accounting principles;
  • Training of the personnel on application of several general accounting procedures.

Financial audit of the company: advantages and results

Result of the financial audit of the client’s company includes transfer of a full set of documents, complete report of an independent auditor in accordance with the accounting standards, relating to the accounting record, and letter to the management personnel of the company. Financial audit of the company, carried out by the EBS specialists, has many advantages for the client:

ADVANTAGES OF COOPERATION WITH EBS

  • Audit of the financial statements in accordance with the National Accounting Standards and all requirements of the current Ukrainian legislation;
  • Counseling of the company’s employees in the framework of the contract;
  • Minimization of risks of tax fines and penalties;
  • Maintenance of confidentiality.
  • Qualitative financial control and audit, carried out by the professionals.
  • Report of an independent auditor with at least 3 years of experience.
  • Availability of a full set of documents, which can be presented to the donor as confirmation of expenditures, or to the company’s management.
  • Saving of time and efforts for preparation of the reports.

EBS has solid experience in audit for non-commercial organizations, sponsored by such donors as USAID, SIDA, etc.

Contact our company and you will receive professional services in as short time as possible.