Audit of financial statements
Financial statement audit is performed pursuant to the Law on Audit and the International Standards on Auditing (ISA). Our methodology of financial statement audit is adjusted in a way that it meets the specific features of operating, as well as the specific aspects of financial reporting of each individual client.
We conduct audit of financial statements in compliance with the activity plan and it is carried out in a manner enabling identification and assessment of risk in accordance with the most recent changes in business finances and accounting of each client, thereby ensuring the highest quality of services rendered.
Our methodology of conducting audit is based on examination of evidence on the basis of sample testing, on the evaluation of the applied accounting principles, significant evaluations made by the management of a legal person, as well as on the assessment of financial statements, all with an aim of ensuring a solid basis to state the opinion of a chartered auditor.
We offer our clients:
- financial statement audit pursuant to the Law on Audit of the Republic of Serbia and in accordance with the International Financial Reporting Standards (IFRS) and the International Accounting Standards (IAS);
- consultations relating to accounting principles and the application of the International Accounting Standards (IAS) and the International Financial Reporting Standards (IFRS).
Audit partners and lead auditors have a broad expertise and experience necessary for quality financial statement audit. Other members of the audit team are trained to understand the essence and nature of operations of each client.
Following the performed audit, our practice is to discuss with client’s management the audit findings and to state our recommendations relating to these findings.
The arranged audits are conducted within the deadlines as defined by management and client owners, fully in compliance with the mutually agreed schedule.
Other audit services
Beside the financial statement audit, we have a broad expertise and experience in rendering other audit services, the form and area of which are client tailored. In cooperation with our client, the area, scope and subject of audit are defined and an audit plan is developed to meet all client requirements in the best way.
Other audit services comprise:
- special-purpose audit engagement
- engagement in financial statement review
- review of interim financial information
- engagement with an aim of giving assurance
- – audit-related services (reviews, agreed procedures and compilations).
Special-purpose audit engagement includes the following:
- audit of financial statements drawn up in accordance with a consistent accounting basis differing from the International Accounting Standards or national accounting standards;
- audit of certain accounts, account items or positions in financial statements,
- audit of compliance with contractual provisions,
- audit of summary financial statements.