As is known, since January of last year the public joint stock companies should prepare their financial (consolidated) statements according to International Financial Reporting Standards (IFRS)
Such statements in accordance with the Laws of Ukraine “On Joint Stock Companies”, “On Accounting and Financial Reporting in Ukraine” and “On Securities and Stock Market” are subject to mandatory inspection by an independent auditor, an official public disclosure and filing together with the auditor’s report to the National Securities and Stock Market Commission (NSSMC).
Its (statements) failure under the Code of Administrative Offences and the Law of Ukraine “On State Regulation of Securities Market in Ukraine” stipulates administrative liability – the amount of the fine can be up to 85 000 UAH.
“De Visu” offers audit of financial statements for 2013 prepared in accordance with International Standards of Accounting and financial statements, which is subject to official publication in accordance with the requirements of the National Securities and Stock Market Commission (NSSMC).
Audit includes a comprehensive inspection of financial and economic activities, completeness and timeliness of mapping of business transactions in the primary documents, consolidated accounting registers, statements of the company, the reliability of accounting and tax accounting.
According to the results of the audit is provided the auditor’s report, drawn up in accordance with International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements, as well as the specific requirements of the regulator
If required, “De Visu” could help to transform statements in accordance with International standards. The transformation process is rather complicated. Essentially this is the transformation of accounting ratios for national standards in information convenient for the IFRS reporting. The result of the transformation depends on the skills and professional judgment of preparer.
Experienced professionals of “De Visu” also provide advice on the practical application of International Financial Reporting Standards, support the process of financial statements preparing under IFRS and developing of the necessary internal regulatory documents, in particular, the accounting policies under IFRS.
“While you order audit, we recommend controling whether has been included the audit firm in the Register of audit firms eligible to audit participants of the securities market of the National Securities and Stock Market Commission (NSSMC). Register could be found at NSSMC website. A few minutes for such control will allow finally ensure in professionalism of the selected firm”, – said Oleksandr Boiko, the President of “De Visu” Group.
