Auditing Service

AFA Office Ltd offers two types of auditing services to the customer:  audit of financial statements and tax audit.

  • Audit of financial statements includes inspection of the company’s accounting practice in accordance with the International Financial Reporting Standards (IFRS). (Company’s statements may also be inspected in accordance with International Financial Reporting Standards for Small and Medium-Sized Entities (IFRS for SMEs)).
  • Tax audit includes inspection of the company’s economic operations in accordance with the norms of the tax legislation and determination of the correctness of taxes paid by the company.

After inspection we deliver audit opinion to the customer where all economic operations carried out by the customer during the previous years are described in details and deficiencies are revealed with regard to violation of accounting policies according to International Financial Reporting Standards (IFRS) or/and norms of the tax legislation. Possible solutions and recommendations will be issued in order to avoid similar inaccuracies in the future.

Each tax return (personal income tax, corporate income tax, VAT, excise duty, import tax, property tax) will be recalculated and compared with the tax declarations submitted by the customer.

The customer will also receive the financial statements prepared in accordance with the International Financial Reporting Standards:  balance sheet and the statement of profit and loss.

The purpose of the audit is to clearly present financial performance to the customer and decrease the tax risks.