Professional Audit: Ensuring Reliable and Transparent Financial Processes

Reliable information about a company’s financial processes is essential for analyzing its performance and developing its business strategy. An audit can help to obtain this information.

When is an audit required?

An audit is a professional and independent assessment of a company’s accounting and financial statements.

It may be required by law, in which case it must be conducted in accordance with the procedures and within the timeframes established by law. A company may also choose to initiate its own audit, in which case it can be conducted at a time of its choosing.

Companies typically conduct audits:

• when changing the CEO or CFO;
• before a tax audit;
• before a business reorganization (merger, sale of the business, opening a branch);
• if there are concerns about the accuracy of accounting records.

Objectives and goals of an audit

The auditing company BULR helps businesses in Chisinau solve the following problems:

• verify the reliability of their financial reporting;
• evaluate the relevance of their accounting policies;
• analyze contracts for civil and tax risks;
• analyze accounts payable and receivable, and develop a strategy for managing them;
• identify weaknesses in their management and internal control systems.

How an audit is conducted

An audit is a time-consuming process that requires both the company and the auditor to be prepared. During the preparation phase, the audit schedule is determined and the goals and objectives are specified. The audit itself consists of the following stages:

• Collecting and analyzing information: the auditor examines the company’s primary documents, charter, and accounting policies, and draws conclusions about their compliance with legal requirements.
• Making recommendations to correct any identified discrepancies.
• Preparing a report that details the results of the audit.

Entrust the audit to one of the best accounting companies in Moldova.

BULR is a company of experienced specialists who take an individualized approach to each client. Our experts are ready to work with you to achieve your goals.