The accounting audit includes independent evaluation of the information found in company’s financial statements and their transparency. In addition the audit evaluates accounting process, organization and other operations the company is involved in.
The audit is required to check if the company’s financial data is correct and trustworthy, and also to evaluate the company itself.
There are basically 2 kinds of audits:
- Inside audit services -This process includes the overview and evaluation of the company’s accounting process and financial statements. This is done by employees or external service providers.
- External audit services — This process includes the overview and evaluation of the company’s accounting process and financial statements. This is done by an independent professional. Various state institutions, investors and financial intuitions rely on external auditor’s opinion that provides independent and fair evaluation of the company.
Why is this necessary?
Accounting audit helps to run the company more efficiently and on lower costs. It includes an extended research of the economic activity such as the analyses of money circulation, management of creditors/debtors, reserves, etc. In conclusion the auditor gives the report about the situation in the company and suggestions how to avoid financial mistakes and neglect, and how to improve financial journalizing.
Low Tax Company audit services includes:
- Financial audit — It is an overview that includes the evaluation of the company’s annual report. It is an independent and impartial opinion about the correctness and adequacy of the documents.
- Inner audit — This service includes analyses of management procedures with the goal to verify the quality, integrity and adequacy to standards and aims. The audit also includes promotion of management by improving the company’s inner processes.
- Work efficiency audit — It is done to make sure that company’s resources are used to the fullest to insure high profits in the future. Besides that, it includes analyses of production process rationalization, evaluation of management and employee efficiency, and the optimization of expenses.
- Specific «interrogation» audit — This service helps the company or client to prevent any fraud or financial inadequacy. It uncovers the fraud or the cause of inadequacy and helps to eliminate it.
- Due diligence — This service includes help and consultations in an event of company merger or the process of purchasing a new business, as well as in the events of risky business or investments. And to make the right decisions for your business, it provides information about local legislation, regulations and accounting practice.
The right business strategy, planning of tax and cash flow is the foundation of every successful business. Our specialists will help you to plan and arrange your company so that you are able to gain the maximum profit out of the planned project.
You will receive the estimated service charge for free if you fill out our on-line application form. That does not mean you need to make a commitment to us!
NB: We are currently employing experienced and high qualified auditors in Latvia, Lithuania, Estonia and Cyprus. But if you have any special inquiry about our availability to serve you with accountancy services in other countries, please contact us and we will suggest you some of our reliable partners.