Audit of financial statements

INFORMATION CARD

 
During our long-standing activity we have carried out several hundred audits of financial statements for companies:

– with domestic capital,
– with 100% foreign capital.

We provide services in the scope of:

– audit of annual and semi-annual financial statements
– audit of consolidated financial statements
– annual and mid-year review of financial statements

Audits are carried out in accordance with all legal requirements, namely:

the Accounting Act dated 29.09.1994 (Journal of Laws No. 152 item 1923 of 2009 consolidated text). On the basis of this Act the National Council of Statutory Auditors (KIBR) has issued professional standards for statutory auditors and general norms of the annual audit of financial statements (KIBR Bulletin No. 61),
The Accounting Act has adjusted Polish solutions to rules applicable in the EU member states and implements Art. 68-70 of the European Association of the Republic of Poland and European Union Treaty,
Polish accounting rules convergent with regulations of the International Accounting Standards Committee (IASC).

Statutory auditors who cooperate with our Office use the International Standards of Audit (ISA), as well as publications of the International Federation of Accountants (IFAC), as part of which the General Agreement on Trade in Services (GATS) operates.

Statutory auditors were trained in New York and London, and have taken many specialist training courses in Warsaw.

We make it a principle not to consider the audit of financial statements only as a fulfillment of a statutory obligation, which increases our client’s costs, but it should strive after credibility of the firm, its value and remove unnecessary risk.

Financial statements are reviewed by our team which includes statutory auditors, tax consultants and their assistants.

While auditing we use proven methods and techniques augmented by our own experience.

Time limits for work are set up individually at the time of preliminary talks and they are adjusted to client’s needs.

The person responsible for audit is a statutory auditor entitled to this responsibility on the basis of the Act on Statutory Auditors and their Self-Government (Journal of Laws No. 77, item 649 of 2009).

A report and opinion are made upon the examination of financial statements. The examination carried out by the auditor allows the specification of the correctness of an entity’s systems activities, essential problems analysis, to indicate risk places, as well as to assess the results obtained.

Art. 66 sec. 4 of the Accounting Act obliges the appointment of an auditing firm as a body approving entity’s statements, unless a statute, agreement or other legal regulations binding upon the entity stipulate otherwise.