Audit and accounting

 

  • Audit Firm «Kyiv Audit Service» on the basis of the register of the Audit Chamber No. 2128 provides a full range of audit services. By the decision of the National Securities and Stock Market Commission (Certificate No. 0116), the Company was granted the right to carry out the audit of financial institutions. CAP Certificate (Certified Accounting Practitioner) (No. 0003174) give us the opportunity to prepare the financial statements of the enterprise in accordance with the international accounting standards in four foreign languages. By the decision No. 271/8, the Auditors’ Chamber of Ukraine confirmed the passage of quality control by the Company. Professional risks of AF «Kyiv Audit Service» are insured by the IC «Alfa Insurance».

We conduct a statutory audit for the annual confirmation of the financial statements of enterprises:

  • public joint stock companies;
  • financial non-banking institutions (professional participants in the stock market; credit unions, pawnshops, insurance companies, etc.);
  • issuers of securities (stocks, bonds, certificates, etc.);
  • public-interest entities.

These market participants must publish the annual financial statements with the audit report no later than April 30 of each year.

Our company conducts a thematic initiative audit on a wide range.

Its main objects: completeness and reliability of tax reporting, completeness of reflection and reliability of business transactions, structure of expenses of the enterprise, accounts receivables and payables, foreign exchange transactions, payroll, correct accounting.

Such an audit is carried out at the initiative of the owners (shareholders), the management of enterprises in order to detect errors in accounting and reporting, as a result of which the Customer will receive an understanding of the state of affairs at the enterprise. It will give a possibility to identify and eliminate shortcomings in a timely manner and create reserves to improve the efficient operation of the enterprise.

In addition to the classical audit, we provide related audit services:

Transformation of financial statements

Our auditors are transforming financial statements prepared in accordance with the national accounting standards into financial statements prepared in accordance with international standards (IFRS, GGAP). Such reporting may be submitted to the client, including in English.

Transfer pricing (TP)

Enterprises whose annual income exceeds 150 million UAH and the volume of controlled transactions exceeds 10 million UAH (for each counterparty), if the counterparties are related to the parties, or come from a low tax jurisdiction, then enterprises must annually prepare a Report on controlled transactions for the results of the year and submit it to the State Fiscal Service of Ukraine until May 1 of each year. We offer cooperation in professional training by our auditors:

– The report on controlled transactions for the previous year, its annexes (information about the person participating in controlled transactions, information about controlled transactions, information about related parties).

  • A package of relevant documentation for the TP.
  • Consulting and explanatory work with company employees in order to pre-empt the inclusion of business operations under the control of the shopping and recreation center.
  • Adjustment of a previously submitted report. His defense is in court.
  • Auditor’s report on the absence of the need for drafting and filing.

Audit and tax advocacy

Since 2019, a monopoly of lawyers on representation in the courts of all instances has been practically introduced. Including in judicial proceedings related to appeal against the actions of tax authorities. Lawyers do not always have the necessary training in taxation and accounting. The advantage of our company is that in such processes (primarily in court hearings) we engage a working group consisting of an auditor and attorney. Such a group a priori has an advantage over the representative of the tax authority. The auditor can not only express his professional opinion on issues that relate to the subject of the claim of the tax authorities, but also make (at the request of the defendant – his client) audit reports. By the decision of the court, such conclusions may be attached to the case as an evidence. In case of need, we can also involve our Forensic Expert in forensic economic expertise in the process.

Accounting and Outsourcing

Organization of accounting

Organization (setting) of accounting at the enterprise by our specialists includes:

  • a detailed studying of the specifics of the enterprise at the time of organization (consultant accountant), analysis of taxes payable, their quantitative assessment;
  • development of basic principles and methods of tax accounting, accounting support, reflected in the accounting policies of the enterprise for accounting and tax accounting purposes;
  • development of proposals to optimize the structure of the accounting service at the enterprise, the development of regulations for the activities of employees of the accounting service;
  • development of the final Instruction for documenting all areas of accounting and tax accounting in accordance with the law.

Accounting consultations

Professional consultations on accounting by our auditors allows to solve quickly many problems and answer many questions that arise in clients (mainly their accountants) in the process of financial and economic activity. Usually, they related to the correct reflection of the business transactions in accounting. The provision of these services can be carried out on a permanent (subscription) basis or once-only.

Recovery of accounting and reporting.

The purpose of full or partial (by sections) restoration of accounting is to put in order all the documents of the enterprise in accordance with the requirements of the law. To minimize the undesirable financial consequences connected with violation of the law in previous periods of time, the procedure for restoring accounting and tax accounting should be accompanied by the submission of revised tax returns, corrected forms of financial statements. As a rule, such work is carried out by our accountants or by auditors in conjunction with the accountant of the client enterprise in the territory of his enterprise.

Accounting outsourcing.

Outsourcing of business processes is one of the instruments of accounting for the activities of the enterprise, providing for the transfer of functions related to the organization and maintenance of accounting at the enterprise outside the company, transferring them to a professional accountant. What are the benefits of accounting outsourcing for a client:

  • Above all, it is the guaranteed reliability of work with an experienced audit firm and the insured risks. And also, the opportunity to use the staff of highly qualified employees of accounting outsourcing on an ongoing basis in online mode.
  • Saving on expenses in general and the absence of the need to maintain a staff of accountants, saving on their wages and taxes, saving of office space.
  • The opportunity to attract, if necessary, not only accountants of the audit firm, but also other employees: auditors, lawyers, attorneys, expert evaluators, translators.
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