Audit Services

Audit conducted by ACG provides increasing efficiency of financial management:

  • Preparing annual financial statement according to IFRS requirement;

  • Increasing transparency of company financial activity;

  • Increasing reliability of company financial statement;

  • Increasing efficiency of accounting system and revealing flaws/defects;

  • Reducing company tax risks;

  • Optimization and appropriateness of expenses of the company;

Transparency and reliability of the company financial statement represents one of the guarantees for its further sustainable development. Implementation of the project will support the company management to be provided with high quality advisory service and information.

 

Efficiency

  1. Receiving reliable accounting data timely in terms of tax administration;

  2. Strengthening control on movement of fixed assets and supplies;

  3. Determining fixed assets and supplies;

  4. Strengthening control on cash-flows;

  5. Strengthening role of monitoring;

Audit includes:

  1. Audit of cash-flows;

  • Confirming accuracy of cash balance for a certain period;

  • Checking bank and cash register operations and confirming the accuracy;

  • Evaluation of internal accounting system;

  • Checking transaction of cash-flows defined in loan agreements and confirming the accuracy;

  1. Audit of accounts payable and accounts receivable

  • Inventory of company debitors and confirming its accuracy;

  • Revealing doubtful and bankrupt creditors;

  • Confirming accuracy of initial documents and invoices;

  • Following rules established by company authorities;

  • Correct utilization of credit resources and confirmation of accuracy of appropriate expenditure;

  1. Audit of Fixed assets

  • Reflecting capital expenditure spent on fixed assets in accounting system;
  • Determining accuracy of accrued/accumulated depreciation;
  • Determining balance value of fixed assets;
  • Writing off fixed assets and reflect them correctly in accounting system;
  • Land property confirmation documentation and accuracy of payment of land taxes with budget;
  • Accuracy of payment of taxes of leased fixed assets;
  • Accurate determination of value of purchased fixed assets I accounting system;
  • Reflecting unfinished buildings in accounting system;

4. Audit of supplies

  • inventory of supplies by a certain period and comparing it with balance data;
  • correct determination of value written off supplies;
  • working out correct politics of supply registration;
  • determining cost of actual production existing in production supplies
  • determination of calculation of cost of finished product;
  • accuracy confirmation of overbusy/overloaded production;
  • determining loss and reflecting it correctly in accounting system;

5. Audit of expenditure

  • Accurate reflection of depreciation expenditure in profit-loss statement;
  • Accuracy confirmation of scientific-research expenditure;
  • Accuracy confirmation of insurance expenditure;
  • Accuracy confirmation of written off material supplies;
  • Accuracy confirmation of written off fixed assets while realization;
  • Accuracy confirmation of expenditure on labour compensation;
  • Accuracy confirmation of expenditure regarding doubtful/questionable debts;
  • Accuracy confirmation of distribution and marketing expenditure;
  • Accuracy confirmation of other expenses;

6. Audit of revenues/income

  • Determining the accuracy of company income in respect of reporting period. It includes revenues from customers, leasing, etc;
  • Confirmation of accuracy of reevaluation of credits in foreign currency ;

7. Audit of company own capital

  • Confirmation of accuracy of reserves gained from profit, retained earnings and reevaluatio