Audit services

Mandatory audit – a comprehensive audit provided by current legislation of Ukraine in order to confirm the accuracy of financial statements.

Mandatory audit is provided by Art. 8 of the Law of Ukraine “On Auditing” in the following cases:

confirmation and completeness of annual financial statements and consolidated financial statements of open joint stock companies-issuers of bonds, professional participants of the securities market, financial institutions and other business entities, the reporting of which is subject to official disclosure in accordance with the legislation of Ukraine, except for institutions and organizations maintained at the expense of the state budget;
checks of the financial condition of the founders of banks, enterprises with foreign investments, open joint-stock companies, insurance and holding companies, mutual investment institutions, trust companies and other financial intermediaries;
issuers of securities upon obtaining a license to carry out professional activities in the securities market.
Mandatory audit is also provided by other legislative acts of Ukraine:

companies in liquidation and reorganization;
legal entities – business entities in the event of insolvency and bankruptcy;

Initiative audit – an audit, which is carried out on a special assignment of the subject of audit, in which a detailed inspection of individual areas of accounting is possible.

Based on the results of the audit, we provide an official audit opinion expressing the opinion of the audit company on the reliability of the financial statements.

Tax audits are an inevitable part of business. The instability of tax legislation, constant changes and differences in the interpretation of laws by tax authorities and enterprises, lead to troubles during inspections by government agencies and can lead to bankruptcy, even successful companies.

The inspection carried out by our specialists will help to eliminate violations in a timely manner and prevent penalties, optimize corporate taxation, and minimize tax risks.

We offer a monthly (annual, quarterly) tax audit.

Based on the results of the tax audit, we provide:

audit report on the correctness of tax assessment for the period under review;
recommendations for correcting the identified errors;
recommendations for tax optimization.

Special purpose audit – an audit that is conducted to confirm the accuracy of accounting and reflection in the reporting of certain aspects of the enterprise:

• audit of the authorized capital;
• audit of receivables and payables;
• audit of fixed assets;
• audit of settlements with accountable persons;
• audit of salary calculations;
• audit of cash transactions and transactions on the accounts of the enterprise;
• audit of inventory and IBE;
• audit of foreign exchange transactions;
• securities audit.

Based on the results of the special purpose audit, we provide an audit opinion expressing the independent opinion of the audit company on the subject of the audit.

Audit for the owner – is carried out on the initiative of the owners, and in accordance with the Civil and Commercial Codes of Ukraine, the audit company may perform the functions of the audit committee of the enterprise.

The main purpose of the audit is to analyze the financial and economic activities of the enterprise, the legitimate distribution of profits, the validity of costs, the correct calculation of taxes, etc.

At the request of the owners, we can also perform:

audit of individual components of financial statements;
audit of compliance with the terms of contracts;
other types of special purpose audits.

According to the results of the audit issued:

audit report with the calculation of financial ratios of liquidity and solvency of the enterprise.

During the privatization of facilities, the correctness of the customer’s inventory is checked, as well as a selective inventory of fixed assets, intangible assets, inventory, cash and documents and calculations.

The documents regulating this process are:

Law of Ukraine “On Auditing” as amended on September 14, 2006 № 140-5;
“Instruction on the inventory of fixed assets, intangible assets, inventory, cash and documents and calculations”, approved by the order of the Ministry of Finance of Ukraine dated August 11, 1994 № 69;
“Methodical recommendations for the inventory of fixed assets, intangible assets, inventory, cash, settlements and work in progress of agricultural enterprises” – Annex to the letter of the Ministry of Agrarian Policy of Ukraine dated 04.12.2003 № 37-27-12 / 14023;
“On approval of the Regulations on conducting cash transactions in the national currency in Ukraine” – Resolution of the Board of the National Bank of Ukraine of December 15, 2004 №637.