The audit season we believe to be open! The majority of companies has the financial year closing on December 31. The financial statements audit is usually planned in two phases: the so-called interim and final audit. The first one aims at familiarizing the general profile of the client 's accounting policy, the principles of internal control, current year issues/problems. This in turn allows for better planning approach to the final audit of the annual financial statements.

Most auditors - auditors and their assistants ? have the first visit to the clients behind them. How was is seen by those who participated in the audit for the first time?

Each of us ever started. Assistant before the first test - which we can tell from our own experience - is more worried and stressed. First, not quite being able to imagine how the audit will look like in practice, even if it has undergone theoretical background.

Second - well realizes that every client should be treated individually. That is, each audit test is subject to a unique planning because of the type of business, organizational structure, internal rules, etc. Added to this is a subjective factor: the first meeting with new people, chat with accountants and others responsible for carrying out the actions. While even the best- laid audit program we always have to reckon with the fact that we face an additional unplanned area to explore.

But as we implement the audit process, all fear disappears. Working time passes very quickly. We will not even notice that this is the end.

It turns out that an audit is not only interesting, but even downright fascinating. While working in the audit , not really fall into monotony. Sometimes we hear from accountants that their work is uniform, after a few years the company has nothing to surprise them.

The audit is very different - is associated with a variety of industries (retail, service, manufacturing etc.), and even if these industries are similar - familiarize themselves with the specific business. It is an amazing feeling when we are looking at how the process of constructing buildings, inventory management in hypermarkets, planning freight transport company looks like?


S.Ekman ? General Manager
FY AUDIT/24iValue

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