Proactive audit

Voluntary audit in Kyiv is the process of verifying the reliability and correctness of reflecting transactions in business and tax accounting, initiated by the business owner or the head of the company. To conduct an objective analysis of economic activity, enterprises are recommended to resort to the services of third-party experts. The information obtained as a result of the voluntary audit helps to assess the business situation. The main task to solve during the analysis is to timely eliminate deficiencies and minimize potential risks of penalties.

What are the objectives of the voluntary audit?

The main feature of the voluntary check, in contrast to the mandatory one, is its optional nature.

The purpose of the voluntary audit is to form an independent opinion on the financial statements. The obtained result is important for the company's management. It allows them to make the right decisions and identify reserves. The analysis is typically carried out in companies whose investors are non-residents of Ukraine.

An optional examination might be necessary for the following situations:

To apply for a bank loan
Under the terms of the dealer contract
To sign a contract with foreign partners
Upon dismissal of the chief accountant or the head of the company
When buying a company, to assess the prospects and risks of the transaction

Where to order a voluntary audit of financial statements in Kyiv?

The PETTERSON & BENNETT consulting firm provides independent voluntary audit services in Kyiv. The analysis carried out by our auditors increases the credibility of the company's financial statements.

A non-mandatory examination might include a number of related services:

Legal advice and assistance
Restoring, organizing and maintaining tax and accounting records
Providing advice on reports
Preparing financial reports, declarations and calculations

Voluntary audit of financial statements helps to determine the correctness of accounting and optimize the work of the accounts department.

The operations reflected in the supporting primary documentation are checked in two ways:

Continuous, that includes the study and analysis of all transactions
Selective, when only the content of a part of the operations is checked

When assessing the reliability of accounting with the selective method, one might overlook errors. Enterprises are more likely to order this service in a labor-intensive continuous method, despite the high price for the voluntary audit.

In the process of work, they analyze:

Accounting policies
Assets of the enterprise
Specific operations
Internal control schemes
Correctness of reflecting operations
Reliability of billbacks with suppliers, buyers and the budget
Tax accounting, filling in registers and declarations

The examination takes from 3 to 7 working days. The preparation of the conclusion and the report on the results takes another 10 working days.

To order a voluntary audit, you will need to sign:

Client's questionnaire
Contract between the company and the customer
Letter of commitment of consent to the audit

Which documents are issued as a result of a voluntary audit at the enterprise?

Based on the results of the voluntary audit at an enterprise, the following documents are provided:

A written report with the results, comments and a list of potential risks during the tax audit as well as recommendations for correction
Auditors' opinion on the analysis of accounting and reporting
Report of completion

When calculating the cost of conducting a voluntary audit at an enterprise, the following factors are taken into account: the scale and specifics of the business, the complexity of accounting and the applicable taxation scheme.

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