The purpose of an audit is to enhance the degree of confidence of the intended users of the financial statements. This is achieved through the expression of an opinion by the auditor as to whether the financial statements are prepared in all material respects in accordance with an applicable general financial reporting framework.
Subject to mandatory audit are:
a) the individual financial statements of medium and large entities, public interest entities and other entities, in accordance with the legislation in force;
b) the consolidated financial statements of groups, in accordance with the provisions of art. 27.
The role of the financial audit:
- Verifies compliance with the conceptual framework of accounting, the procedures internally established by the management of the business entity
- Verification and certification of the correct reflection in accounting of the financial statements, their faithful, clear and complete image over the entire financial year.
The fundamental objectives pursued within a financial audit mission:
- Authorisation, through which assurance is provided that only authorised events and transactions have taken place within the entity
- Justification and evaluation, through which the existence of recorded assets and their value is verified, and that the company operates in accordance with the policies and procedures imposed by management
- Compliance, through which the correct recording of accounting information in accordance with the legislation in force is ensured
- Archiving and keeping information securely, in accordance with the time required by law
- Supervision, which refers to detailed control over the quality of accounting records and daily operations
The audit of financial statements represents the audit carried out by financial auditors with the purpose of certifying that the information recorded in the financial statements (in the balance sheet, profit and loss account) presents the real situation of the company and is in accordance with generally accepted principles.
The financial statements subject to mandatory audit, the management report of the respective entities and the auditor's report are placed on the entity's website.
For details, do not hesitate to contact us at:
Address: str. Pietrăriei 19A, floor 1, office no. 2, 3 (opposite the circus) Chișinău, Moldova
Tel: +373 69 184 328
Email: info@audit-data.md
Website: www.audit-data.md