The objective of an audit of financial statements is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in accordance with International Financial Reporting Standards, US GAAP or any other general accepted accounting principles used by the company to prepare its financial statements.
An audit includes examining, on a test basis, evidence that supports the amounts and disclosures in the financial statements. In virtue of the proof nature and other limitations inherent to an audit, together with the inherent limitations of any accounting system and internal control system, there exists the inevitable risk that some misstatements can pass without being detected.
Our audit methodology is based on the International Standards on Auditing issued by the International Federation of Accountants (IFAC). In addition we support our professional practice through with intensive use of technology and specialized auditing techniques assisted by computers. The techniques assisted with computers are useful in the process for detecting the exceptions and for the execution of financial analysis of the companies being audited, which include re-calculation of interests, antiquity of products in the inventories, accounts receivables and accounts payable, detection for lack of invoices, collection receipts and checks issued, detecting duplicity in entries, duplicate payments, etc.
We are committed to provide an intelligent auditing service, constructive and relevant, and in order to provide the said objective, we adhere to highest integrity, independent and technical standards.
Once concluded with the audit we meet with high level management and the Board of Directors of the company to discuss our findings, which can be financial or regarding controls. With the outcome we provide our recommendations, and offer possible alternatives to be considered by Management, in order to correct each and every situation discussed.