AUDIT

Our audit services include all the necessary steps leading to the successful verification of financial statements prepared in accordance with the Slovak Accounting Standards (SAS) as well as the International Financial Reporting Standards (IFRS) – from gaining initial understanding of the client's activities through to the audit of the annual report.

Audit

AUDIT PROCESS

Audit work usually takes place in several stages. The scope of work is set according to the specific conditions and requirements of the client. The quality and scope of our work are the same for micro accounting entities as well as for large accounting entities, municipalities and the non-profit sector.

Getting to know the accounting entity and reviewing internal processes on the client's premises.

Participation in the physical stocktaking of inventories and fixed assets and verification of accounting records on the client's premises.

Final verification of accounting records together with the review of the financial statements, annual report, reporting and similar.

AUDIT
SERVICES
INCLUDE:

The result of the audit work is the independent auditor's report, prepared at the client's request in Slovak, English or German. Together with the Independent Auditor's Report, the client also receives a letter to the company's management (the so-called Management Letter), in which the management is informed of the identified shortcomings and which also contains recommendations and, where appropriate, suggestions for improving the bookkeeping or the functioning of the internal control system. Our audit services include in particular:

  • • mandatory (statutory) and voluntary audits of financial statements prepared in accordance with SAS

  • • verification of consolidated financial statements

  • • audit of non-profit organisations, foundations and municipalities

  • • forensic audit focused on detecting fraud and theft

  • • audit of financial statements prepared in accordance with IFRS

  • • other assurance services, e.g. agreed-upon procedures, verification of business combination agreements (mergers, amalgamations, demergers), verification of compliance with subsidy conditions, etc.

  • • verification of the drawdown of funds from EU funds (e.g. Horizon 2020, FP7, Tempus and similar)

  • • review of historical financial information

  • • review of the internal control system

  • • review of group consolidation reports („reporting packages") prepared on the basis of German, Austrian rules, IFRS, US GAAP, or other rules according to the consolidation instructions

  • • Due diligence

  • • accounting advisory in the area of Slovak accounting, IFRS and other

  • • training on topics and areas requested by clients

  • • other services at the client's request

The members of our audit team are young and flexible people with university education who continuously develop their skills, including at training sessions organised by the home network, the Slovak Chamber of Auditors, the Slovak Chamber of Tax Advisors and other organisations. Strict compliance with the Auditor's Code of Ethics is for us a natural and essential basis for performing our work.

Transparency reports

We provide the same quality and care to micro-companies, large corporations, municipalities as well as non-profit organisations.

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