The core business of ABC Audit Sp. z o.o. relates to auditing financial statements. These services are performed by professionals with many years of experience gained in the largest international audit firms. These services include:

AUDIT

The scope of our services includes the audit of financial statements prepared in accordance with:

    • the Accounting Act of 29 September 1994  (Journal of Laws No. 121, item  591, as amended) and the provisions implementing the Act,
    • International Financial Reporting Standards (IFRS / IAS)
    • German financial reporting standards – German GAAP

When carrying out work in the field of financial statements auditing and other attestation services, we rely on:

    • standards of auditing issued by the National Chamber of Auditors, and
    • International Standards on Auditing issued by IFAC (The International Federation of Accountants).

We have developed our own methodology for conducting audit work based on our experience gained while employed in major international audit firms. We attach great importance to the planning phase, which is why we involve our Clients in the process. This phase of the analysis aims at identifying weaknesses in the internal control and understanding of the economic content of transactions conducted. The advantage of our services lies in constant contacts with certified auditors and the opportunity to consult them in case of any problems and doubts that may arise at every stage of the   financial statements audit.

BENEFITS FOR OUR CLIENTS

When auditing the financial statements, our employees, in full independence and impartiality, try to prompt solutions to facilitate and speed up the process of preparing financial statements in future periods.

THE ADDED VALUE OF THE AUDIT

In addition to the opinion and report on the audit of the financial statements as required by law, we will also provide you with an additional document (Letter to the Board). The document will contain our observations which were not included in the report and relating to the accounting system, internal control and security systems (including IT).

This service is connected with the new regulations regarding the settlement of grants from EU funds. The audit of the use of EU funds is carried out prior to utilizing at least half of the funds allocated to the project. The audit may be carried out:

  • during the course of the project – the opinion of the auditor shall in such case refer to the amounts and disclosures till the date of the audit,
  • in the final stage of the project – with a preliminary audit of mid-budgeted expenses and the final audit  in the final stage of the project. The final opinion of the auditor is issued after the final audit, however, just after the initial audit recommendations shall be prepared in the form of a Letter to the Board, where the auditor indicates the identified errors and risks.

 

In particular, the scope of the audit covers:

  • internal control and identification of the level of risk connected with the misuse of funds,
  • tests  to ensure that the defined internal controls were applied consistently,
  • the audit of the validity of eligible costs, the manner of documenting the same and their recognition on a separate bank account specified in the chart of accounts,
  • the analysis of the timeliness of obtaining funds for the project and completeness of the amounts received,
  • checking the  applications for payment with the accounting books in the part relating to the project,
  • checking the credibility of the project reports,
  • verification of the method for monitoring the project (achievement of the project goal).

The basic tasks of the internal audit are as follows:  evaluation of risk management, streamlining operational processes and strengthening corporate governance. These are the factors of high importance both in private companies and in public finance institutions. Public sector institutions are even obligated to create internal audit units. It is also recommended in the implementation of investment projects financed from EU funds and mandatorily required from the recipients of such funds. We are pleased to offer you the outsourcing of services related to internal audits in your company. Our offer is addressed to entrepreneurs who want to verify the quality of work of their accounting departments, and to introduce changes which – by improving the efficiency and accuracy of work of the accounting department – will ensure access to current and reliable information. We offer the opportunity to use our comprehensive experience in the field of audits and internal controls gained so far working for both Polish and international Clients. We offer assistance in the following areas:

  • advising on the organization of internal audit: evaluation, improvement and development of internal audit regulations,
  • providing support in developing a strategic plan for the internal audit,
  • assistance in creating or improving a methodology appropriate for the internal audit,
  • ensuring continued cooperation between specialists, up to taking over  (as an external supplier) all the duties of the internal auditor.

As part of the work related to the audit of the financial  statements, we perform procedures associated with an analysis and evaluation of the security of financial data processed in IT systems.
This includes, among others

  • analysis of the documentation (policies, procedures and instructions related to the security of IT systems)
  • audit of the IT organizational security,
  • assessment of the security of IT systems that process financial data.