Description of Auditing Services
Auditing services rendered by the Audit St. Petersburg Group of Companies include the following:
1. Inspection and verification of authenticity of annual and interim accounting (financial) statements while in the process providing the necessary regulatory documents and consultations.
During an audit, employees of the Audit St. Petersburg group provide a full range of auditing procedures in order to determine the authenticity of accounting statements. Also, the specific causes of obstacles preventing the company from fully implementing its capabilities are ascertained, and recommendations for their elimination are formed.
Regardless of the form of audit and the specific character of the company's activities, over the course of an audit inspection the following questions are investigated:
- the purpose of the company's creation and the goals of its activity (constituent documents and permits;
- the legislative and regulatory framework of its activity; benchmarks of the efficiency of its activity);
- legal and economic assessment of financial and commercial contracts;
- the legal due diligence of the client's financial and commercial activity within the confines of an auditing inspection. This includes inspection of the company's compliance with regulations enforced by the legislation of the Russian Federation in order to determine any risks in said activity;
- assessment of the efficiency of accounting and internal inspection systems;
- compliance of financial and commercial operations with applicable legislation and regulations of the Russian Federation and international legislation;
- completeness and correctness of calculations, timely payment of taxes, fees and charges;
- correct documentation of financial and commercial operations in records and reports;
- authenticity of accounting in all material respects;
- other information and operations, accordance of commercial activity with the particularities and legal nature of the client.
The final stage of the audit consists of forming an independent opinion on the authenticity of accounting in all material aspects while providing the client with the auditing documentation in accordance with the conditions of the contract and goals of the inspection.
2. Auditing service of clients with quarterly inspection of accounting authenticity and issuance of a final annual audit report, which:
- provides the organization's management with reliable information useful in making complicated commercial decisions;
- reduces the cost of auditing services;
- prevents financial losses during tax payment (errors in accounting and taxation are brought to light in a timely manner and the necessary corrections are made);
- helps economic and legal services quickly and accurately navigate changing tax and accounting legislation;
- enables prognosis of the direction and condition of the company's activity, taking expected changes in economic legislation into account.
3. Internal audit upon request of the managers or owners of the company.
4. Audit of the company's tax liabilities (tax audit).
5. Audit in order to monitor the observance of the rights of owners (shareholders) and to evaluate the efficiency the company's management.
6. Other audit procedures (on the company's request).