PHASE I – preliminary audit:
- Participation in asset inventory
- Analysis and evaluation of internal inventory records and internal control of the company
PHASE II – proper audit
- Verification of asset and liabilities valuation and deciding on the financial result for the financial year
- Audit of the financial report with the criterion of probability and completeness of presented information
- Audit of cash flow report
- Audit of the report on changes in own equity
- Audit of the introduction to the financial statement an well as additional information and clarifications
- Checking the report on business activity against compatibility with the financial statement and legal requirements
- Issuing the opinion on the financial statement integrity and preparation of a report on the audit process
- Preparation of a confidential letter to the Management Board of the audited entity presenting primarily the evaluation of its accounting system and internal control (if necessary), handing over the Management information to the acknowledgement of the Supervisory Board (in the form of the so-called letter of intent) information on concerns in the accounting system of the audited company.
Financial statement audit is performed according to the National Standard of Financial Auditing no. 1 ‘General guidelines for financial statement auditing’.
Acting according to the national financial auditing standards we hand over an opinion and a report on the audit done, and present to the Owners written information on all vital remarks concerning the entity in question and primarily the opinion on the status of the accounting in the business.