Professional and Other Audit Services
Special Purpose Audit Engagements
Auditor's report on special purpose audit engagements refers to an audit opinion on specific financial information other than the financial statements prepared in accordance with the legislative requirements of the Republic of Belarus.
Special purpose audit engagements include audit of:
- accuracy of accounting transactions;
- intended use of credits and investments;
- financial position of the investor (the initiator of the investment project);
- financial position of the securities issuer;
- authorized capital formation, source of funds contributed to the authorized capital by the founders (members);
- reliability of tax returns (tax calculation);
- structure and price of the enterprise as a property complex;
- value of fixed assets being in ownership, under economic or operational management of the audited entity;
- other indicators of financial and economic activities.
Tax audit is an independent audit of tax accounting in order to examine the accuracy of tax charges and payments to the budget, as well as tax recording in accounting.
Tax audit enables a company to be prepared for tax inspections.
Tax Audit is conducted:
- to examine the accuracy of tax accounting and bookkeeping in a company;
- in case of changing the chief accountant, financial director or company director;
- before inspections conducted by tax authorities;
- to examine tax returns before submitting to the tax inspection.
Voluntary audit is a complete or selective examination of any periods or parts of financial statements helping to detect problem areas.
Voluntary audit can be conducted in the following cases:
- Change or dismissal of company director or chief accountant.
- Initiation of liquidation or reorganization proceedings.
- Lawful audit requests from the company’s owners, investors or management bodies.
- Changes in ownership as a result of selling a business.
- Changes in tax legislation related to tax optimization, as well as for registration with tax authorities in case of any new requirements specified by the applicable legislation.
- Before scheduled tax inspection in order to reduce the likelihood of administrative sanctions for violations of the tax legislation detected by the tax authorities.
We provide consulting services both under continuous service agreement and one time service agreement, whether in oral or written form.
We provide consultation on:
- Corporatre taxation;
- International business transactions;
- Customs regulation and international trade;
- Transfer pricing;
- Tax due diligence.
- Financial due diligence (on the part of the buyer);
- Financial due diligence (on the part of the seller);
- Tax due diligence.
Independent Economic Investigation
- Inspecting financial and economic activities of the company serving the interests of the Client, detection of fraud;
- Examining essential business transactions recorded in accounts for accuracy and completeness;
- Analyzing «schemes» of siphoning off/ theft of assets;
- Detecting doubtful counterparties, unusual economic and financial operations;
- Analyzing procurement system, prices and fairness of counterparties;
- Analyzing potential tax risks.
Financial Due Diligence
Purpose of due diligence is to give a true and fair view of the company’s financial position, determine its real value and possible risks in order to evaluate the company’s investment attractiveness.
Due diligence includes legal and financial analysis, assessment of potential risks of loss of assets or their part, assessment of fair value of assets, determination of the company’s market value.