Voluntary audit

A voluntary audit is a special audit, agreed with the Client. It is aimed at auditing the questions, determined by the Client, connected directly with the financial and economic activity of the enterprise, as well as a compliance audit of certain procedures, norms and rules.

The voluntary audit is conducted to identify the weaknesses of accounting, reporting and taxation; to analyse a financial condition of the organization and to develop recommendations on the increase of efficiency of the enterprise activity.

The voluntary audit is necessary in the following cases:

• direct indication for conducting an audit in the constituent documents;
• change of management;
• change of the accountant or key figures in the accounting department;
• significant changes in the legislation;
• uncertainty of the accountant in the correctness of accounting and tax calculations;
• obtaining the credit;
• the desire of owners to verify the correctness of accounting, financial accounting;
• assessment of the profitability of investments.

A late appeal to the auditor leads to large financial expenses and requires carrying out of force majeure measures, as a result unplanned losses for the company. The voluntary audit conducted in time makes it possible to avoid these losses, both in the present and in the future.

An additional audit task is made at the conclusion of the contract on conduct of the voluntary audit. It is an integral part of the contract on rendering of auditing services and can provide for:

• a detailed examination of the correctness of calculations with a budget;
• the audit of separate part of a financial and accounting reporting;
• the conduct of an audit of assets and liabilities;
• the audit of economic contracts, labor contracts;
• the audit of the state of receivables and payables, as well as other points of the task by agreement with the client.

The results of the voluntary audit are drawn up in a writing report provided by the auditing company to the address of the Client.

The report is made by the effective rules of audit activity and methodologies, developed by AuditComService LLC.

The report is a confidential document intended for the use only by the executive body of the Client’s company.