{"id":72,"date":"2024-12-27T17:43:11","date_gmt":"2024-12-27T17:43:11","guid":{"rendered":"https:\/\/wizard-accounting.eu\/home-page-03\/"},"modified":"2025-04-08T11:08:37","modified_gmt":"2025-04-08T11:08:37","slug":"audit","status":"publish","type":"page","link":"https:\/\/wizard-accounting.eu\/en\/audit\/","title":{"rendered":"Audit"},"content":{"rendered":"\t\t
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Audit <\/span> Services<\/span> <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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We offer professional audit services that comply with all the legal requirements <\/span>applicable in <\/span>Estonia.<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Core values of Auditor's Professional Conduct:<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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An auditor must maintain independence and impartiality in their work. Their activities are based on the following key values:<\/div>
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I<\/strong>ntegrity:<\/b> An auditor must be honest, straightforward, and act with professional integrity in all business and professional relationships.<\/div>
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Objectivity: <\/strong>An auditor must <\/span>prevent<\/span> personal bias, conflicts of interest, or external influences <\/span>from affecting <\/span>their professional judgment.<\/span><\/div>
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Professional Competence:<\/strong> An auditor is required to continually update and enhance their knowledge and skills to provide qualified and competent services.<\/div>
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Confidentiality:<\/strong> An auditor must not disclose any information obtained in the course of their professional duties to third parties without lawful and specific consent, nor use it for personal or third-party benefit.<\/div>
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Professional Behavior:<\/strong> An auditor must comply with relevant laws and regulations and refrain from any actions that could undermine trust in the auditing profession.<\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tAudit of Annual Financial Statements\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h4>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\tAn audit is an examination<\/u> that provides assurance to the company and third parties that relevant financial statements are free from material misstatements.\n
An audit results in a report<\/u> that contains a positive assessment, confirming that the annual financial statements, in all material respects, fairly and accurately reflect the company\u2019s financial position, its results, and cash flows.\n
\nAs part of the audit, the auditor:<\/b>
\n\n- Verifies the compliance of the annual financial statements with the established accounting standards;
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- Assesses the application of tax principles (to the extent necessary for overall analysis of the financial statements);
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- Ensures that third parties reviewing the financial statements can gain a complete understanding of the company\u2019s financial performance.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tReview of Annual Financial Statements\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h4>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t A review <\/u>is a service that provides a limited level of assurance.
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The primary objective of a review<\/u> is to ensure that there are no circumstances that could indicate errors in the financial statements.
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During a review, the auditor:<\/b>
\n\n- Performs analytical procedures;
\n\n- Engages in discussions with key personnel;
\nThe auditor does not examine accounting records or internal controls over the preparation of the financial statements as in the course of an audit.
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The result of the review is:<\/u>
\n\n- An auditor\u2019s report that offers a lower level of assurance than an actual audit.
However, a review takes less time to prepare and is more cost-effective.
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\n\t\t\t\t\t\t\n\t\t\t\t\t\t\tOther Audit Services\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h4>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t

\n\t\t\t\t\t\t- Valuation of intangible contributions;
\n\n- Review of merger or liquidation reports;
\n\n- Special audits at the management\u2019s request;
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\nAn audit <\/u>can also be voluntarily initiated to provide a higher level of assurance and reliability in financial reporting for clients, report users, or other transaction parties.\n
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Useful Information:<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The cost of audit and review services is determined individually, as each project is unique.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The price depends on:<\/u><\/div>
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