Audit of financial statements

The audit of financial statements involves checking whether the company's financial data is reliable, complete and compliant with applicable regulations.

Grażyna Janowicz has been auditing the financial statements of companies from various industries and with various scales of operations for years, providing management boards with legal, financial and organizational security.

For many companies, auditing is a statutory obligation, and for management, it is a practical tool that limits the risk of liability and allows for the early detection of errors and irregularities.

The audit is carried out personally by Grażyna Janowicz, a certified auditor , which guarantees independence, confidentiality of information and personal responsibility for the course and quality of the audit.

When is an audit of financial statements mandatory?

Pursuant to the Accounting Act, the following are subject to audit in particular:

Capital companies

  • joint-stock companies (except companies in organisation),

  • limited liability companies meeting statutory size criteria.

Units meeting statutory criteria

The audit covers entities that in a given financial year met at least two of the following three conditions :

  • average annual employment – ​​minimum 50 people,

  • total balance sheet assets – at least EUR 2.5 million,

  • net revenues – at least EUR 5 million.

Other units

The obligation to conduct research also applies to, among others:

  • banks and financial institutions,

  • insurance and reinsurance companies,

  • investment and pension funds,

  • issuers of securities and regulated market entities.

Who has no obligation but should prepare?

The lack of a statutory obligation to audit does not mean that a company should not prepare for one. This applies in particular to:

Developing companies

  • dynamic growth in revenues, assets or employment,

  • growing scale and complexity of operations,

  • changes in the organizational structure.

Companies benefiting from financing

  • investment and working capital loans,

  • leasing and other forms of financing,

  • preparation for talks with banks or investors.

Companies planning changes

  • restructuring and transformation,

  • mergers, divisions and ownership changes,

  • sale of shares or entry of an investor.

Companies with increased control risk

  • intensive VAT and CIT settlements,

  • taking advantage of tax breaks,

  • activities in industries subject to increased supervision.

What are the benefits of auditing financial statements?

The purpose of the audit is to obtain reasonable assurance that the financial statements:

  • does not contain any significant errors or distortions,

  • has been prepared in accordance with the Accounting Act and the adopted accounting policy,

  • reliably presents the company's assets and financial situation and its financial result.

The study ends with the issuance of an opinion and a study report .

Research as an element of management security

Correctly conducted examination:

  • limits the risk of liability of management board members,

  • allows for early detection of errors and irregularities,

  • organizes accounting and reporting principles,

  • prepares the company for tax and financial audits,

  • increases the company's credibility towards banks, investors and contractors.

Direct cooperation and independence

The study is carried out personally by Grażyna Janowicz , which ensures:

  • independence and objectivity of assessment,

  • confidentiality of information,

  • continuity of cooperation,

  • personal responsibility for the quality of the study.

Contact

If your company:

  • is subject to the obligation to audit the financial statements
    or

  • wants to prepare properly for the future examination,

Please contact us. Collaboration can be one-time or long-term .