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A statutory audit is an annual obligatory audit of accounting and financial (accounting) reporting of the organization.
In the Republic of Belarus the legal bases of an audit activity are determined by:
- the Law of the Republic of Belarus "On auditing activities" on July 12, 2013 № 56-З and other normative legal acts of the Council of Ministers of the Republic of Belarus, the Ministry of Finance of the Republic of Belarus and the National Bank of the Republic of Belarus;
- the rules of auditing activity approved by the Ministry of Finance of the Republic of Belarus;
- internal corporate standards, methods and instructions on the audit of the company AuditComService LLC.
According to the concluded audit contracts the specialists of AuditComService LLC conduct the statutory audit of:
- the assurance of the annual accounting (financial) reporting;
- the correctness of the annual accounts operations(financial statements);
- the proper use of credits and investments;
- the financial condition of the investor (the initiator of the investment project);
- the financial condition of the issuer of securities;
- other indicators of financial and economic activities of the organization or an individual entrepreneur in the cases stipulated by the legislation.
The result of the statutory audit is made as a report with the detailed description of the conducted auditing procedure, identified defects(violations) and recommendations on their correction.
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