Compulsory audit is annual compulsory audit work of accountancy and financial statements of the organization. In Ukraine compulsory audit is controlled by the Act of Ukraine Concerning Auditing Activities from April 22, 1993 № 3125-ХII.
Conduct of the audit can only be provided by the companies and auditors, who are included in the List of audit companies that match criteria to conduct compulsory audit.
WHAT DOES COMPULSORY AUDIT GIVE?
- Confirmation of truthfulness and completeness of financial statements of the company
- Confirmation of truthfulness and completeness of consolidated financial statements
- Decrease of risk to make wrong decisions based on unaudited or uncertain information contained in financial statements
- Confirmation to suppliers, buyers, investors, creditors and other persons concerned of the fact that the company has a well-functioning system of audit, so the main indicators of its activities results, and thus the company itself, can be trusted.
WHAT DOES AUDIT-INVEST DO:
- Compulsory audit of financial statements according to IFRS
- Compulsory audit of financial statements according to Accounting Rule
- Official independent audit report concerning truthfulness of financial statements and their correlation with set criteria
- Fair representation of financial state of the company
- A similar report to executive management with conclusions following the results of audit