audit

Audit

Discover the major importance of financial or internal audit!

Audit, evaluation and reporting under local law, according to international standards, with Crowe Romania

A successful business is always in compliance with local legislation and  transparency politics: audit represents the implementation of methodology, the assurance of constant support and search for optimal solutions.

Crowe Romania has the strong belief that a fair and complete audit is based on the detailed knowledge of the company’s activity. Moreover, team vision and expertise provides the security of undertaking all of the audit-specific activities in any sector, including financial institutions and listed companies.

Each project is coordinated with the energy and  knowledge gathered in years of activity. They stand and certify the integrated consulting services and extraordinary operations  available for customers, such as M&A and Due Diligence for the acquisition, sale or new investments.

Statutory Audit

Statutory audit on the basis of legal criteria ensures an analysis of the individual or consolidated annual financial statements performed in accordance with international auditing standards. The report is carried out by an impartial financial auditor that analyzes the client's financial position according to audit guidelines.

Financial Reporting

Financial reporting relates to the financial situation and flow of equity and client means during the reporting period. They contain information about the assets and liabilities of the enterprise, net profit and cash flow. Reviews can be done annually or periodically and are designed to measure the ability of the company to pay dividends, interest rates, pay off debts within the established deadlines.

Accounting Review

Accounting reviews are based on the indicators determined from the annual financial statements of the previous financial year, namely the completed trial balance at the end of the previous financial year.

Internal Audit

Internal audit is carried out through a methodic and organised  process, aimed for control and management processes improvements, in different periods of time. It pursues, among others, the existence of dissimilarities between different levels of the organization and the existence of certain things that discourage people from working better. The purpose of internal audit is to help the company meet its business objectives with a systematic and disciplined approach.

Financial Due diligence

Due diligence involves investigating, examining, and analyzing information about an investment, business partnership, acquisition or takeover, before they occur. This type of expertise has the role of highlighting the strengths and weaknesses of the company, as well as the risks related to the acquisition or the public offer.

Agreed Upon Procedures

The audit mission on agreed procedures involves the accordance with the International Standard on Related Services (ISRS 4400), between the client and other beneficiary parties. Agreed procedures bring benefits to information credibility provided to third parties, such as banks, regulatory agencies, potential investors or buyers.

International Standard Audits - IFRS

International accounting and auditing standards involve the existence of political, institutional and legal conditions ("preconditions") that present the financial position, financial performance and cash flows of an entity. The application of IFRSs, with additional information presented, results in financial reports that represents the company's status.