Audit of financial statements plays an increasingly important role for owners, investors and regulators. In the existing business environment, the financial statements of any entity are subject to thorough critical analysis on the basis of which strategic and managerial decisions are made. Investors are deeply concerned about various aspects of corporate governance, internal controls and reporting. They expect more values: more facts confirmation, correct accounting and convincing evidence of effective internal controls within the entity.
Entity’s Management, Boards of Directors and Audit Committees, internal and external auditors, financial analysts and other investment professionals play important role in building investor confidence through their responsibilities, taking into account both legal obligations and investor expectations. In order to meet investors’ expectations, it is necessary to ensure the correct recognition, and at the same time the completeness and reliability of the information presented in the financial statements of an entity.
Baker Tilly provides high quality audit services to organizations that require audit in accordance with IFRS, other accounting standards and regulatory requirements for submission of financial statements.
Baker Tilly specialists understand their tasks and responsibilities broader than just audit and preparation of financial statements. We analyze the problem areas in accounting and provide letters of recommendations to management developed based on expertise of the Baker Tilly network.
- Partner involvement: our services include permanent participation of a partner from the very beginning;
- Joint planning: planning is carried out together with our clients to avoid repeated requests, improve efficiency and ensure transparency of our audit process;
- Risk based approach: we pay special attention to the areas of significant risks in your business. Problem areas are identified at an early stage of the audit when planning audit procedures. This approach ensures an effective audit, which implies discussion of all identified significant issues with the management at the early stages of the audit, and also allows resolving all issues beforehand.
- Use of technology: Baker Tilly specialists have advanced audit tools, resources and procedures that are used to provide high quality audit services in effective and efficient manner.
- Relevant consultation: in case of signing the contract for audit services with Baker Tilly, we provide additional consulting services in the accounting and tax legislation area during the contracted period which do not lead to conflict of interest. This option allows you to discuss the interpretation and accounting of non-standard operations in advance to avoid adjustments, long discussions and errors during the audit.
We offer the following audit and related services:
- Audit of financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and US GAAP for stand alone entities and group of entities;
- Review of financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and US-GAAP for stand alone entities and group of entities;
- Audit of financial statements prepared in accordance with the requirements of International Financial Institutions and Donors;
- Performance of agreed upon procedures on accounting transactions;
- Verification of compliance with contracted covenants and legislation;
- Recommendations on the internal controls system and setting of internal audit function;
- Confirmation of the correctness of complex transactions in accounting and consulting on IFRS and US GAAP methodology;
- Due Diligence and independent analysis of financial information;
- Preparation of financial statements in accordance with IFRS and US GAAP for stand alone entities and group of entities.
The audit methodology, Global Focus, is our ‘audit language’ which ensures a common understanding of the audit approach and procedures. Global Focus is underpinned by advanced technology which uses intelligent software and risk registers to highlight the areas of greatest risk and provides efficient documentation tools for an electronic approach to statutory audit.
Working Across Borders
Global Focus provides a shared:
- Audit language for our network by establishing expectations for audit quality;
- Understanding of the audit strategy;
- Audit approach, key working papers, training programs and documentation expectations.
What that means for you
- Consistent and high quality audit, that is tailored to your business;
- Integrated quality assurance procedures, giving you confidence in the results;
- Efficiency and a streamlined process – saving you time, helping meet deadlines and allowing us to focus on providing you with insights into your business;
- The risk based approach means that we can highlight inefficiencies in your processes and make recommendations for improvement;
- Facilitates seamless and ISA (International Standards on Auditing) compliant cross-border work;
- Helps assure global consistency and quality with comprehensive standardised training and the capacity for central quality assurance review.
We believe that our company can become your reliable partner.