Audit of Financial Statements

Audit of Financial Statements

The purpose of an audit is to assess past events and to plan future events. It is problem-oriented, and conducted in an interdisciplinary fashion. Service is at all times tailored to a customer’s individual needs and in line with statutory requirements.

Regardless of whether an audit is required by the law or optional, the enterprise is subjected to detailed tests to assess its standing.

The information gained during the audit provides an opportunity to spot potential risk areas for the company’s future activity, and to identify the best remedial measures.

List of services:

  • standard audits and reviews of individual and consolidated financial statements conducted in compliance with the Polish Accountancy Act and International Financial Reporting Standards (IFRS), using Caseware software,
  • verification and review of financial statements in terms of their compliance with Polish and international accounting standards,
  • audits of planned company mergers and transformations and other services relating to approvals,
  • audits and reviews of consolidation packages.

Standard audit procedures include:

  • review of computer systems to the extent necessary to authenticate the data used during the audit of the financial statements,
  • tax review with respect to direct and indirect taxes in order to define the risk of contingent tax liabilities, including VAT, CIT, social insurance ZUS, PIT and customs liabilities,
  • presentation of recommendations in areas significant for the company, in the form of letters to its management board,
  • issuance of an opinion along with a report on the accuracy and reliability of the financial statements and books of accounts.