The financial statutory audit is compulsory for:
We provide also other assurance services such as:
The purpose of an audit is to add credibility to the financial statements of a business organization. The auditor expresses an opinion whether the financial statements comply with the applicable accounting principles, and that they provide true and fair presentation, in all material respects, the financial performance and financial position of the company.
Audit is performed in accordance with the Accounting Act, the National Standards on Auditing and International Standards on Auditing (ISA). Audits of EU fundings are performed in accordance with the guidelines of PARP. The work is carried out by the team of experienced staff under the supervision of the auditor.
The field work is planned and carried out in such a way as to obtain reasonable assurance whether the financial statements are free of material misstatements and omissions. The substabtive testings are conducted on a sample basis. The audit work include an assessment of the accounting principles applied by the Company, confirmation of correctness of significant estimates made during the preparation of the financial statements as well as an overall assessment of its presentation.
The financial audit is performed in three steps:
During the interim visit, the audit team focuses on the following tasks:
During the second step, the audit team verifies the true and fair presentation of the economical transactions in the financial statements of the company.
The audit work includes:
After completion of the audit work and internal reviews, the audit team prepares the final opinion and report. We also provide the client with a management letter if we identify areas of risk during our audit work. We can provide our opinion and report in three languages (Polish, English or German), depending on the needs of the clients.