Audit

When listing the necessary nuances for the success of your business, you should not forget about Audit check.

       But what is an audit and why is it necessary?

An audit is an examination of a general enterprise or financial statement.

The Law of the Republic of Azerbaijan "On the Auditor" states that the audit can be mandatory or voluntary (on the initiative of economic entities).

Mandatory audit is carried out for economic entities that have to publish their financial statements according to legislation, as well as in cases directly provided by legislative acts or according to relevant decisions of competent state bodies (on their order), and in other cases it is voluntary.

       Why is internal audit necessary?

Sometimes companies invite auditors to verify the accuracy of financial information transmitted to them by accounting and to approve financial statements. At this time, the auditor examines the company`s financial statements and listed:

    • confirmation of the correctness of reports or their inaccuracy

    • full, correct and accurate reflection of expenses, income and financial results of the enterprise`s activity in accounting and reporting during the audited period

checks, uncovers problems, gives feedback, and if necessary, helps to make necessary adjustments to improve the financial condition of the enterprise at the request of the customer.

       When is a mandatory audit necessary?

    • If you have an economic entity that has to publish its financial statements according to the law;

    • Also, if you have a subject that must be audited in the cases directly provided by law.

       What is an auditor`s opinion?

The auditor`s opinion is certified by the auditor`s (auditor organization`s) signature and seal, reflecting the assessment of the financial condition of the audited economic entity, the legality of financial and economic operations, the correctness of the items of annual financial statements, the general state of accounting and all legal and natural persons, state authorities and it is an official document with legal significance for administrative bodies, as well as judicial bodies.

        You can entrust your company to professional auditors of SAMADOV LAW AND AUDIT.

        SAMADOV Audit services include:

  •     Audit of financial statements
  •     Control of financial statements
  •     Financial reporting service
  •     Special purpose audit
  •     Forensic accounting expertise and research
  •     Inspection of information systems and control system
  •     Internal audit
  •     Restoration of accounting and documentation according to the results of the internal audit

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