Audit – review of the accounting data and indicators of the entity’s financial statements in order to express an independent opinion of the auditor on its reliability in all material aspects and compliance with the requirements of the laws of Ukraine, accounting regulations (standards) or other rules according to user requirements.
The initiation of an audit is mandatory for:
- public joint stock companies.
- issuers of securities whose securities are admitted to stock trading
- large companies that are the issuers of securities
- banks, insurance companies , non-state pension funds, and other financial institutions that are either large and medium-sized
- companies operations of which are associated with geological studies, including experimental/industrial development, mineral deposits of national importance and / or mining minerals of national importance and / or work (activities) which are foreseen by the agreement of product distribution of minerals of national importance and / or transport by pipelines (including for the purpose of transit) hydrocarbons and chemicals
- Subjects of natural monopolies on the national market. The free list of subjects of natural monopolies is constantly being updated on the official website of the Antimonopoly Committee of Ukraine every week till the 20th of the year (www.amc.gov.ua)
Audit is initiated in the following cases:
- upon the request of the owner or the governing body
- when buying and selling corporate rights
- during the change of management (director or chief accountant)
- in order to attract investments or credit resources
Main fields of activity:
Types of audit of financial statements:
We provide audit services in accordance with the requirements of the Law of Ukraine “On audit of financial statements and auditing” and International Standards on Auditing in the current edition adopted as national, using scientific methods and audit procedures, sufficient and appropriate to form a judgment.