General audit of company includes the following activities:
Obligatory audit: preliminary analysis; audit; consulting; recommendations on how to eliminate errors; audit reporting; issuing of an official audit certificate.
Complete audit services – quarterly (or once in every six months at client’s option) audit of the company activities, consulting chiefs and book-keepers about all the questions on current activities of company. Quarterly (half-yearly) results are shown in interim reports.
Company receives an audit report for the relevant period on basis of all the audits, carried out in the company.
Complete audit service procedure (subscription services):
Entry into a consulting services agreement. Client’s transfer of the prepayment equal to the monthly fee. Rendering of written and oral consulting services during a month. Calculation of time, spent de facto on training and consulting. Presentation of the services report to the client at the end of the month. In the event of the established by the agreement time limit being exceeded, issuing of a supplementary invoice is required. Monthly drawing up of a service rendering statement and invoicing.
Initiative audit – audit on own motion of the company’s executive bodies (shareholders/partners).
Initiative audit differs from general audit by less scope and/or defined objective, e.g. for presentation to bank for the purpose of entering into a credit agreement; for presentation to customs; for presentation to clients for the purpose of entering into a contract.
The procedure of carrying out of an initiative audit is similar to the one of an obligatory audit. Initiative audit can cover all the accounting sections or some particular sections, provide risk assessment.
Special audit implies the following audit types: fulfillment of agreement conditions; application of funds for their intended purpose; receivables and payables status; audit of individual sections of accounting; audit of accounts for several years; other types of audit at client’s option.