An express audit is a selective procedure for conducting an accounting and reporting audit, as well as for assessing the financial and economic condition of an enterprise, but unlike a regular audit, an express audit draws attention to the most significant points without going into details. This allows you to quickly assess the state of accounting and tax accounting, identify the most serious problems and errors at this time, take the necessary steps quickly and therefore reduce the risk of negative consequences for the company.
When is it better to use express audit?
Before the next tax audit to avoid problems with tax authorities, it is worth preparing in advance – check the tax base, analyze the accuracy of tax calculations, the legality of the use of benefits (if exist).
When changing the company’s management staff, chief accountant.
Before preparing the annual balance sheet. In order to present the balance without errors, it will not be superfluous to identify them quickly and eliminate them in time.
It is planned to start a new type of activity. In this case, it is necessary to check how the accounting is organized for a new type of activity.
The company intends to expand its business, to make large investments in it.
The organization has conducted uncharacteristic transactions of its activities, therefore monitoring of results is necessary.
How long is an express audit?
An express audit is performed in a short time.
What does the client receive after the express audit?
Upon completion of the audit, the client receives a written report, which consists of:
- analyzed results performed at the company by type of activity;
- information on the accounting state at the audit moment;
- auditors’ recommendations on making the right decisions to eliminate previous mistakes;
- the list of fiscal risks of the company.
We perform an express audit according to the special task of the client. There may be such express audit options:
- tax risk evaluation for most of the company types (areas) of use or even for a single transaction;
- verification of settlements for a single fee;
- testing the competence of the organization’s accountants.
What are the main advantages of express audit?
- obtaining necessary information in a short time.
- the minimum intervention of the auditors in the current accounting activity.
- the cost of the express audit is lower than a general audit.