Audit-related services

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2020-07-02 23:14:07

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The Audit organization in addition to the main activities of provide their clients with additional services, called "audit-related services”. The list is quite extensive and includes:

  • Maintenance and restoration of the accounting system at the enterprise;
  • Consultation in tax matters;
  • Providing advice in the field of financial security of an individual entrepreneur;
  • Providing all possible support and assistance during the restructuring of organizations;
  • Audit firms entitled to give advice and recommendations to the legal liability of the economic entity;
  • Auditing services – measures for verification of the correct padding and calculate all the financial documents and identifying compliance the consolidated interim balance existing accounts. According to this definition, you can put forward the conclusion that the experts of the audit firms possess the necessary skill level, so you can move on to the introduction of new information technologies, as well as automation of the accounting system and internal controls;
  • Audit-related services include and evaluation activities, that is, the establishment of liquidation and residual value of the enterprise and determination of the level of risk to which it is subjected;
  • Young entrepreneurs auditors can offer such kind of services as the full development of the business plan of the new project;
  • Some legal entities are turning to the auditors for the purpose of making researches in the field of marketing;
  • Large audit organization perform the following services, audit-related, scientific experimental design of the study;

So, audit firms may provide audit services or related. Each specialist must possess certain skills and knowledge in law and Economics. All audit-related services can be roughly delineate and distinguish two main groups: compliant with the mandatory inspection and incompatible with her.

The First include such services as:

  • An analytical study of the financial situation of the client company and the organization of planning of Finance;
  • Implementation of internal audits;
  • Comprehensive business of the economic entity on matters relating to the scheme of accounting, the appropriateness of technological innovation;
  • Training of specialists to conduct internal audits;
  • Development of a business plan for a client, organizing a new project and assessment of its prospects;
  • Marketing and analytical research, that is market research and definition of market size which takes the client;
  • Providing advice in the field of legal regulation, as well as tax litigation.

For services which are not compliant with the mandatory inspection, should include:

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  • Work on the development of management or recovery of accounting;
  • Full documentation of financial and tax matters;
  • Design activities in the field of enumeration of obligatory payments in budgets of all levels and extrabudgetary funds;
  • Help in the restructuring or liquidation of an economic entity.

If the audit firm provides audit-related services, each specialist of the company must possess the appropriate skills and knowledge in the field of economy, in addition, it needs to be legally savvy person. Employees of firms that audit have a responsibility to comply with the main principles of confidentiality, honesty, responsibility, carefulness and integrity.


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ZH: https://tostpost.com/zh/business/46747-audit-related-services.html






Alin Trodden - author of the article, editor
"Hi, I'm Alin Trodden. I write texts, read books, and look for impressions. And I'm not bad at telling you about it. I am always happy to participate in interesting projects."

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