Services rendered by this unit feature are the following:

Financial statement audit

Comprises the examination of a company´s financial statements according to generally accepted auditing standards for the purpose of expressing an opinion about the reasonableness of the financial position and income statement of the respective fiscal year, in accordance with accounting principles and their consistent application. Consequently, we have developed a set of tasks with the following salient features:

  • First fiscal year audit
    This task is conducted only during the first year of a company´s financial statement audit. The additional time input this work requires is borne by our firm since we consider it essential for better servicing our clients. Although previous financial statements have already been audited, we perform a series of tasks geared toward acquiring in-depth knowledge of the company and examining its initial financial position.
  • Recurring audit work
    During this examination, generally accepted audit standards are put into practice, including all tests on accounting ledgers and documents, or other auditing procedures deemed necessary to later produce a financial statement report. Although this notion is common to all auditing work, we consider the need to highlight certain features of our approach. Streamlined techniques and the timeliness of their development differentiates our service delivery approach, as explained below:
  • Transaction flow examination
    Although the examination´s end purpose is to verify account balances comprised in the financial statements at year end, we especially underscore examination of the information flow arising from such balances. This approach enables us to pay special attention to internal control measures inherent to the company´s core transactions (invoicing, collection, payments, etc.). Through this method we can not only assess system quality, in terms of obtaining the appropriate accounting balances, but also attain a deeper understanding of the full process to later provide the most adequate suggestions for improvement. On the other hand, our work is based primarily on selected samples which do not include an audit of all transactions. Yet, the examination is planned to focus on errors or irregularities that might have a significant bearing on financial statements.

Operative audit

Comprises the examination of work done in specific areas to assess the efficiency of results obtained. It enables the submission of timely suggestions to optimize a company´s income results. Our audit approach, as described above, implies the performance of tasks according to operating audit goals. In addition, it is aimed at highlighting any non-compliance with documented procedures and control rules which, if not appropriately monitored, may jeopardize company assets.

Accounting advisory

Aimed at providing constant accounting advice, based on the close communication achieved as a result of service delivery throughout the period.

Assessment of internal control system.

Keeping an efficient internal control system is indispensable for an organization´s management to take on the responsibility of providing reliable and timely accounting information to its shareholders, supervisory authorities, etc. The end product results from the global assessment of different controls and subsequent proposals for improvement.

Statutory Audit Committee

Comprises enforcement of provisions set forth in the Companies´ Act 19550 and amendments thereto regarding oversight tasks mentioned therein.

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