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Audit & Assuarance

Statutory audit and assurance

Auditing usually refers to the process of financial statements examination. The aim of this process is to confirm the reliability and accuracy of such statements. ATCA Co. Ltd. offers company audit service and we guarantee that our team knows the process inside out.

When do I need statutory audit?
Statutory audit is required when you need to examine the accuracy of your company financial records and statements.

You need statutory audit if:

  • You are the owner of public company.
  • The shares of your corporate body are traded on a coordinated market in one of the EU countries.
  • You conduct insurance activities.
  • You are the owner of insurance company.
  • Your company is involved in banking and issuing e-money.
  • You have an affiliated company.
  • You are the owner of a brokerage company.

Of course not all companies need statutory audit, but if you are interested in the growth of your company, the audit would help you to avoid unnecessary risks and identify the potential improvement areas. Accordingly, we come to the next issue.

What are the advantages of having an audit?
Here we will highlight the main advantages of auditing:

  • It ensures the correctness and accuracy of financial reports and accounting books. It also determines whether they conform to statutory requirements.
  • Auditors check each financial transaction for the presents of errors. So the audit helps to reduce the risk of such mistakes.
  • Auditors check the regularity of accounts and reports and inform the owners if they are not maintained in a proper manner.
  • Auditing is conducted by various experts who provide valuable information for decision making.
  • Auditors’ reports ensure confidence of shareholders or investors as they are more likely to trust the audited data.
  • All employees try to avoid any mistakes as they are afraid of further audit.

What documents shall I provide for statutory auditing?

It is advisable that the staff of accounting department was available during the audit in order to have access to the necessary documents, such as: accounting records, VAT returns, all purchase and leasing agreements, debtors and creditors listings, copies of all meetings minutes, balance sheets etc. The information about all necessary documents will be provided by the auditors.

What other audit services does your company offer?

Non Statutory audit.

  • You may need this type of auditing if you want to audit your financial statements although they are not required by the law.
  • Compilation reports.
  • This type of report does not require any assessment and it is prepared on the basis of presented financial information.
  • Financial reporting advice.
  • Our specialists will provide advice to you as to the financial reports.

So, if you are in search of the company that can quickly and reliably carry out an audit, we can offer our services! Our clients admit our high quality standards, independence and safety. We guarantee your data safety and protection. Want to know more details? Be free to refer to our company and we will provide you with the best advisory services and consultations!

Auditing is the process of providing assurance of the reliability of the information contained in the financial statements prepared in accordance with International Financial Reporting Standards (IFRS) and International Audit Standards (IAS). The independent auditor plays a crucial role in financial reporting. Users of financial statements expect external auditors to bring to the reporting process technical competence, integrity, independence and objectivity.

With their competence in the field of  Cyprus Audit and Assurance, our audit team can ensure that your company will be complied with all rules and regulations.

 

We will undertake an audit to provide assurance of your financial statements, identify weaknesses in your internal systems and improve your financial reports.

Our services cover the following: