AUDITING

Services:

Complex auditing services meeting international standards.
Statutory auditing UZ, KUZ.
Orders for assurance.
Registration for public sector partners.

Outputs and communication in English or German.

Auditors´ Services - Description

A subject of auditors´ services can be both financial statements or non-financial information, systems and processes.

Financial statements are produced on yearly basis and represent important source of information for many users (e.g. owners, creditors, banks, future investors, employees and etc.)

1. Assurance Services

Auditing

At the auditing, an auditor provides for assurance that the data which are subject to auditing do not content significant inaccuracy. Based on such auditor´s report, the owners can use such statements which do not content significant inaccuracies as a basis for their decision making.

This auditor´s conclusion is stated in an auditor´s report directly, as a positive assurance that “financial statements provide truthful and unprejudiced perspective” .

However, it is important to remember that in spite of such conclusion, the financial statements may content inaccuracies, even though not really significant to have any impact on their users´ decision making.

Verufication

At verification, the auditor gives a limited assurance that the data which are subject to such verification do not content any significant inaccuracy.

In the auditor´s report it is indirectly stated in the form of negative assurances that “during the verification, the auditor has not found anything upon which he could presume that the financial statements do not give faithful and unprejudiced perspective”

2. Corresponding Services

E.g.: agree on the procedures or produce financial information. For such services, the auditor does not state any assurance.

3. Other Services Provided for by the Auditor

E.g. accounting consultancy, tax consultancy, pricing services and etc.

When providing other services at the simultaneous provision of assurance services for the same client the auditor may get into a position where his independence, as one of a basic principles of auditor´s profession may likely be jeopardised.

Audit of the Statement of Finances

means expression of an opinion to a reality whether the statement of finances gives truthful and faithful picture of the Company financial situation and of the result of its management for a year according to the Act No.431/2002 Coll. on Accountancy as amended by later regulations (hereinafter referred to as “Act on Accountancy “).