Audits of Financial Statements

We carry out audits in accordance with all formal requirements:

  • Polish Accounting Act of 29.09.1994 ,
  • Polish Act on Statutory Auditors and their Self-Governing Organisation, on Entities Authorised to Audit Financial Statements, and on Public Oversight of 7 May 2009 ,
  • Polish Standards on Auditing issued by the National Chamber of Statutory Auditors in Poland ,
  • International Standards on Auditing,
  • Internal regulations of an audited entity

The aim of the Financial Statements audit is an assessment of the correctness of figures therein and issuance of an opinion on these Financial Statements. An auditor’s opinion states whether audited Financial Statements were prepared in all material aspects on the basis of correctly kept accounting books and whether they comply with relevant accounting standards.

During an audit we offer permanent contact with a certified auditor and a possibility to discuss with them all matters arising at each stage of the audit.

We suggest carrying out an interim audit before the closing balance and a final audit after the closing balance. Deadlines for the completion of the audit and all related timetables are agreed individually with you taking into account your preferences.

 

Interim audit includes:

  • Planning, during which we get to know your entity and its environment and we are able to indicate all relevant issues which need greater attention;
  • Risks identification. Respecting your time, we focus on the high risk areas and problem solving;
  • Analysis of the notary deeds, Shareholders’ resolutions, Board of Directors’ resolutions and other documents of the entity;
  • Verification of the opening balance;
  • Analytical review when we focus on understanding the essence of the transactions and their impact on the Financial Statements;
  • Interim audit is an opportunity for you to get direct consultations with our experts before you commence the process of the annual Financial Statements preparation.

During final audit we verify:

  • Valuation of the single balance sheet positions: assets and equity and liabilities;
  • Exactness, correctness and completeness of the revenues and costs in the audited period, and the calculation of the net financial result;
  • Correctness and completeness of the introduction and notes to the Financial Statements;
  • Correctness and completeness of the Directors’ Report;
  • We assess the financial situation of the entity in order to assess its ability to continue as a going concern.

As a result of our work we issue an opinion and a report. English and German versions are available as well.

During an audit we deliver to you all our recommendations of possible related to the preparation of the Financial Statements. We can also recommend accounting and operational processes in your financial department.

Accounting books, records, audited figures and all the information received during our audit are confidential. Certified auditors and other team members comply with professional code of ethics.