Voluntary audits allow verifying the correctness of accounting and tax accounting. They allow identifying risks, organizing accounting recordkeeping as well as checking the good practice of accounting departments. Voluntary audits also help assessing the means and methods used to automate accounting, tax settlements, internal control system, as well as the professional level of staff.
Voluntary audits are conducted by decision of management or business owner. Their frequency depends on client requirements or can be set in company regulations.
A voluntary audit should be conducted in the following cases:
- Company reorganization (merger, split-off, etc.);
- Identification of deficient areas of accounting;
- Sale of business;
- Switch to new accounting software;
- Before a tax audit;
- At the request of banks for loan application;
- In case of major legislation changes.
We conduct various audits depending on client requirements:
- Full continuous audit of accounting and reporting;
- Specific checks of individual areas, activities, complex operation, structural divisions;
- Express audit to protect the interests of investors conducted at the founder’s request;
- Other spot checks as per individual client assignment.
To conduct a voluntary audit, we put together a team of specialists consisting of a methodologist, an auditor, a senior auditor and a project manager supervising all the audit stages.
Stages of voluntary audit
Voluntary audits begin with the preparation and approval of a project schedule with clients.
The auditor and methodologist together verify the correctness of recording in accounting and reporting of assets and liabilities in balance sheet, cash on accounts and cash register, stock accounting, settlements with debtors, creditors, founders, as well as with the Federal Tax Service and funds for the selected audit period.
The senior auditor identifies errors in accounting, assesses possible risks of future periods, evaluates the errors found from a qualitative and quantitative point of view and determines the degree of accuracy of accounting and tax reporting.
Once the project is completed, the senior auditor will prepare an audit report describing the condition of accounting, working documentation, audit period and the number of audited accounting units. The audited operations will also be described in the audit report which will also include audit calculations and recommendations for elimination of the errors found during the audit.
Why choose us?
Independence and objectivity
Experience and extensive knowledge of different industries
Liability for audit result
Confidentiality and security
Send a service request