Financial Statements Audit
After we conduct an audit, we issue an auditor's opinion on the veracity of the financial statements for companies:
- Subject to mandatory audit under the Russian law;
- Not subject to mandatory audit under the Russian law but audited at the behest of their management (shareholders/members) and requiring an auditor's opinion for other reasons (to be presented to a bank when making a loan agreement; to be presented to customs authorities; to be presented to contractors when making major contracts, etc.).
Audit is conducted in accordance with the requirements of the Russian laws for audit activities and with strict adherence to the procedures, schedules and methods developed by our company. In our company we have automated many processes and audit procedures, which allows us to achieve the most effective results in less time. You will receive an official document, an auditor's report, based on the audit results.
Before we issue the Auditor's Report we will provide you with a written report containing legal violations identified in the course of the audit and recommendations as to their rectification.
We will define your risks associated with tax underpayment, and identify irrational spending of funds in case of their overpayment. The imperfection of and frequent changes in tax laws, the ambiguity and inconsistency of its individual provisions concerning the computation and payment of taxes, personnel errors – all this taken together gives rise to tax risks. When audited by tax authorities, such risks may result in material or even unacceptable losses for the company.
Auditing tax risks is an opportunity to identify and minimize the risks associated with your business's tax assessment.
Tax risk audit is conducted subject to the methodologies and principles of tax audits held by the inspectorates of the Federal Tax Service. As a result, you get accurate information on the actual state of the company's taxes, the amounts of additional assessments of taxes and duties, fines and penalties that would be charged to the company in the event of a tax inspection. Moreover, you will have a time allowance to rectify the existing legal violations.
Tax risk audit is conducted by leading specialists of “Audit Company FORPOST” LLC, including those with hands-on experience of working in tax authorities and organizations engaged in various activities.
Our specialists will offer you legal ways and means to rectify violations, enabling you to solve the identified problems with least financial and time expense.
Following the tax risk audit, we compile the confidential information into a Report for better illustration which is similar to the tax audit report issued by the FTS inspectorates, appended with probable assessments of taxes, fines and penalties to be additionally charged for late payment of taxes and duties. You will also receive written information with recommendations on how to rectify the established violations with minimum costs for your company.
We audit tax risks within the approved time limits based on the agreement setting out the time required for the service, the number of specialists, the cost and the liability.
Our audit experience shows that some tax law violations may entail liability limited not only to penalties imposed under the tax law and the administrative code of the Russian Federation. Criminal liability for tax law violations is a reality that may be prevented by auditing tax risks before a visit from Federal Tax Service representatives.
Express audit is a random inspection by a special order allowing you to evaluate the overall condition of the management, financial, business and tax accounting of your company within the shortest possible time and with minimum expense.
The purpose of an express audit is to ensure that the management of the company has reliable economic information on the company's actual state of affairs to be able to make prompt managerial decisions to improve performance and to overcome negative external and internal factors affecting the company's operations.
In the course of an express audit our highly qualified specialists, who have extensive work experience in many areas beyond audit, evaluate the existing business and tax risks, analyze constituent documents, basic business contracts and financial and tax statements for the period in question, as well as certain source accounting documents.
This will allow the management of our client company to receive accurate information and the necessary recommendations to make appropriate managerial decisions, including in order to prevent negative consequences of errors and omissions.
Following the audit, we prepare a written report specifying the results of the analysis, remarks and recommendations, and a final opinion as to the state of the applied business schemes.
The report also includes:
- A real estimate of tax risks;
- Proposed legitimate methods which will allow the company to optimize its cash flows and tax payments;
- Any material faults in the company's internal control system that may entail abuses on the part of employees and have negative consequences for the company's financial position.
Express audit has the following indisputable advantages:
- The shortest audit period. The period of work lasts 3 to 6 days (for companies without standalone divisions and with accounting staff of up to 5 employees);
- Minimum interference by auditors in the current work of your company's Accounting and Financial Departments. 95 % of all express audit work is carried out by the auditor without the involvement of your employees and, correspondingly, without any interruptions of the overall work flow;
- An affordable service fee: From 48,000 rubles;
- High usefulness of information received from the auditor.
To be precise, this is a type of audit-related service – performing agreed procedures regarding financial information (stipulated by the Auditing Standard No. 30 enacted by the Order of the Russian Government No. 523 dated August 25, 2006).
The agreed procedures may be applied to individual indicators of financial information (for example, accounts receivable or accounts payable, purchases from affiliates, volumes of sales and profits of the divisions of the entity making an agreement for audit related services), an element of financial statements (for example, balance sheet) or financial statements in general.
An obvious advantage of this kind of services is that it pays closer attention to a certain area of business or tax accounting which is rarely so thoroughly inspected during a mandatory or ad hoc audit due to the large scope of the audit or minor significance of the area in question.
A special audit is conducted by the specialists of “Audit Company FORPOST” LLC based upon a requirements specification set forth in the agreement. This will allow the management of your company to significantly reduce the cost of auditors' services due to a targeted analysis of specific areas, to obtain exhaustive information on the accuracy of certain accounting indicators, to identify the risks of administrative or tax liability, and to take a set of measures to minimize tax risks and to make managerial decisions based on the report provided by our company.
In order to determine the cost of our audit and related services for your company, please fill in the attached Form. The cost will be determined taking into account to the expected time spent by specialists required to fulfill the client's orders. Within two business days of receiving your completed Form, we will prepare and send you a commercial quote with the estimated cost of the proposed services.