IFRS (International Financial Reporting Standards) for any trade, industrial and other commercial companies (including banks and insurance companies) to draw up the financial statements, their activities, sectoral ownership and organizational-legal form.
The report focused on the financial statements of the wider community (shareholders, creditors, founders, hired workers) information needs. Audit the company’s financial statements are established in accordance with International Financial Reporting Standards, it includes the company’s financial position (balance sheet), performance (profit and loss), cash flow (cash flow statement) and changes in equity for reporting audits.
As a result of audits:
- Will receive the audit report that consumer sector increases the reliability of financial reporting;
- Determine the company’s actual financial condition, results (profit and loss) and cash flows.
- Will receive a detailed report revealed deficiencies with reference to the elimination of the internal control system, and also recommendations for improvement schemes.
Financial statements prepared in accordance with international accounting standards transparent and informative for foreign investors and pave the way for the company in the international market.