ATERRA GROUP

STATUTORY AUDIT

STATUTORY AUDIT

AUDIT 13310907 sThe statutory audit checks the balance, report of revenues and losses, the appendix to the accounting statement and annual reports. Statutory audits are necessary for those clients who have, pursuant to the effective legislation, the obligation to have their final accounts checked by auditors. The position and the activity of auditors, the conditions for providing audit services and the basic principles of statutory audits are governed by the Law no. 254/2000 Coll. on auditors.

To  fulfil the main goal of audit as efficiently as possible, our audits are usually planned into three stages:

  • preliminary audit
  • proper audit
  • concluding audit

The preliminary audit focuses on assessment and evaluation of risks related to individual items of the financial statement.

                During the proper audit, the balance and final accounts are tested on selective basis, based on their relevance, as is other information necessary for the financial statement and accurate reporting of financial condition of the accounting unit. In the concluding phase of the audit, after the closure of accounts, we check whether the financial statement, i.e. balance, the report of revenues and losses, the appendix to the financial statement and the annual report are written in line with the appropriate norms.
                The auditor’s report is the outcome of our audit. It includes the auditor’s statement on the financial statement and his/her opinion on the condition of the accounting unit.