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Audit of financial statements

We audit financial statements in accordance with the provisions of Polish law governing the audit of financial statements, in particular in accordance with:

  • the Accounting Act of 29 September 1994 (consolidated text in the Journal of Laws of 1994, No. 121, item 59 and Journal of Laws of 2016, item 1047)
  • Act of 11 May 2017 on Statutory Auditors, Audit Firms and Public Supervision (Journal of Laws of 2017, item 1089)
  • professional auditing standards issued by the National Council of Statutory Auditors 

Until the contract is signed, a member of our management board is personally responsible for contacts with the client. After signing the contract, a team is established under the direction of a statutory auditor, who will consult the problems and organize the work on an ongoing basis. The team is composed of auditors, with the possibility of involving assistants and, if necessary, experts from specific fields.

The audit of the financial statements consists in the examination of the reliability of particular items of the financial statements, the analysis of events after the balance sheet date and their impact on the audited statements. The final result is the presentation to the company of any possible adjustments. The decision of the company to accept or reject the proposed adjustments allows for the preparation of a draft audit report - a written report on the audit of the financial statements of the audited entity, including the auditor's opinion on the audited financial statements.

There is a final stage of work in which the audited entity prepares the final version of the financial statements, and the auditor prepares the final version of the audit report and, if necessary, the post-audit statement.

An agreement to audit the financial statements is signed upon acceptance of the terms and conditions presented in the offer or agreed upon in negotiations. The basic condition for the conclusion of the agreement is the selection of our company as an audit firm to carry out an audit of the financial statements in accordance with the procedure set out in Article 66 section 4 of the Accounting Act.

In accordance with the principles of professional ethics of statutory auditors, issued by the Polish Chamber of Statutory Auditors, in the event of a change of the auditor carrying out the audit of financial statements, the auditor has the right to contact the current auditor in order to clarify whether there are any reasons that would prevent him from undertaking the audit of the financial statements of your company.