Audit of Financial Statements

The service can be rendered for financial statements prepared in accordance with:

  • Ukrainian Accounting Standards (UAS)

  • International Financial Reporting Standards (IFRS)

  • US Generally Accepted Accounting Principles (US GAAP)

We render services regardless whether it is initiative or compulsory audit

Compulsory audit - is mandatory for enterprises in accordance with the requirements of the law. The results of financial statements’ mandatory audit are published and externally reported to the wide range of users - to shareholders, creditors, state authorities.

We are accredited in state registers that enable (entitle) to perform mandatory audit to:

  • Public stock companies, bonds issuers, review s of financial statements for National Securities & Market Commission

  • Financial institutions on financial statements for the State Comission for Regulation of Financial Services Markets of Ukraine

Initiative (voluntary) audit - performed (carried) by our experts upon Client’s decision (request) to ensure the reliability of financial reporting, validation of accounting and its specific areas, as well as evaluation financial position of the Company.

While carrying (performing) audit we examine (look into):

  • if chosen forms of financial reporting match (comply with) with the nature and conditions of the company’s (enterprise’s) activity

  • consistency in the application of forms of financial reporting

  • completeness of financial statements/reporting (including indicators of performance/activity of branches, representative offices and other structural subdivisions of the enterprise)

  • adaptation/Application of regulations on accounting

  • materiality/accuracy of the information disclosed in the financial statements

After work performed the following document is issued:

  • Auditor’s report (standard form) within the framework of the statutory audit

  • Additionally/Optionally (for voluntary audit) audit report containing detailed conclusions and recommendations