Financial Statements Audit
Many entities, including limited liability companies, banks, credit institutions and insurers, as well as public interest entities, are required by law to have their financial statements audited. Others for various reasons, including agreement with shareholders, investors or creditors to fulfil financing requirements, may also require an audit.
At BDO, we are committed to delivering independent, efficient, effective and comprehensive audits of financial statements, including attestations of internal control reporting. We provide quality assurance services to help ensure that our clients' financial statements meet the regulatory and business requirements under which they function.
We believe that high-quality audits, in fact and perception, are essential to the growth of financial markets. With that goal in mind, BDO has pledged to maintain the integrity of our audit process. Our professionals are highly sensitised to the need to maintain objectivity and independence. Moreover, our audits are led by partners who are heavily involved in the engagements and staffed by individuals with the appropriate level of skill and knowledge of our clients' businesses. Each audit also has a suitable level of independent technical oversight.
We recognise the benefits of a planned, proactive approach. In that regard, we identify possible areas of risk that might require special attention. This advance planning also typically results in an efficient audit process.
At BDO we work hard to develop a deep understanding of each of our clients, allowing us to not just look at the numbers but to explore their implication on the business. Every audit we deliver is bespoke to each client, allowing us to provide proactive advice around the issues they face.
During the audit we will collate control, efficiency and business improvement recommendations for the benefit of our clients, allowing us to provide solutions to problems and avoid issues in the future.
We work with our clients to ensure that they are able to fulfil their statutory obligations and file audited accounts in a timely manner.
We aim to give our clients excellent service delivery and strong client relationships. This is supported through a regular programme of independent partner reviews and client feedback.
We are able to provide audit services for most companies regardless of their size or industry and have dedicated specialist sector teams who provide our clients with relevant sector specific knowledge, experience and commercial insight.
Globally, the BDO International network allows us to service multi-national groups so they fulfil both UK and overseas statutory requirements.
Azerbaijani companies require their audits to be completed in line with International Standards of Auditing (“ISA”) with accounts being prepared under International Financial Reporting Standards (“IFRS”) or National Accounting Standards (“NAS”).
NON STATUTORY AUDIT
Businesses may require an audit report on financial statements which do not fall under the requirements of a statutory audit under the regulations.
We can provide a report on:
- Whether a component of a set of financial statements are prepared in accordance with the basis of accounting;
- If particular provisions of a contractual agreement, such as a loan agreement, have been complied with;
- The internal controls over the financial reporting process.
Our report will provide an independent opinion on these aspects to meet regulatory and other stakeholder requirements.