Economical agents auditing
General auditing is an independent checking of accountability and financial reporting and also correctness of positing book-keeping calculation at the enterprise. The result of conducting general auditing is the confirmation of reliability of reporting and level of correspondence accounting attendance to active legislation.
THE MAIN AIM OF AUDITING IS THE SAFETY OF ALL FINANCIAL AND BOOK-KEEPING OPERATIONS, IDEAL CONTROL OVER THE INCOME AND EXPENDITURE.
General checking includes such spheres of activity as production, wholesale and retail trade, services.
When is general auditing necessary?
General auditing is actual in those cases when leaders or business owners have doubts in accountants’ professionalism or readiness of the enterprises to full or partial checking by taxation departments. General auditing can also be called for in the process of preparing companies for reorganization, changing in the complement of business owners or firm registration, desire to display in book-keeping and financial documents extra kinds of its activities, etc.
What problems does general auditing resolve?
- Official confirmation of reporting reliability (book-keeping and financial) and its correspondence to legislation
- Timely revealing of mistakes in accountability
- Prevention of fines from the side of checking organs
- Choice of right direction in the developing of business
- Consolidation of enterprise’s reputation at the home market.
What kinds of services does general auditing include?
- Checking of initial book-keeping and financial documents
- Analysis of current financial state of the enterprise
- Taxation auditing with the minimization of tax
- Drawing up an inventory of assets and liabilities
- Appreciation of business automation
- Revealing mistakes and deficiencies with the detailed recommendations on their elimination
- Internal control optimization and trained auditing
- Competent consultations in the course of general checking
- Assistance in working out of accountability
As a rule auditors’ services on general auditing conducting are fulfilled by stages, beginning with determining the scale and volume of work, negotiations about the terms of their conducting, working out the program of auditing, formation of documentation, elaboration of recommendations on correction of deficiencies, working out preliminary report and finishing with co-ordination of results with the client and official registration of auditing report. General auditing can be conducted in the end of the year, for 9 months, for half or a quarter of the year.