One of the auditing goals is to determine whether your company is managed well. The auditors audit the corporate annual reports (annual report, annual simplified report, and consolidated annual report) by examining their compliance with the accounting law, therefore they represent an accurate and true picture of your company’s financial and resource status, and its performance results.
The auditor carrying out the audit tasks is an excellent expert of processes, who understands your company’s operation and analyses the business processes, therefore he/she is an ideal consultant for your business. This creates an opportunity for you to optimize your business operation and to control your accountant’s and tax consultant’s work. Another advantage of the audit is that a company audited is viewed different by the banks, the tax inspectors, the suppliers, represents more security for the market players and means advantages in case of applications for tenders or subsidies.
In Hungary, auditing can be carried out by professionals and auditing companies that are registered members of the Chamber of Hungarian Auditors. Our company and CEO are both registered members of the Chamber of Hungarian Auditors.
We are your partner in your business success
- We guarantee the accuracy of your financial statements by auditing the reports, with our independent and objective professional opinion, therefore the report recipients receive an accurate and true picture of the company’s financial, resource and revenue status. We provide recommendations for the retaining the value of investments, increasing cost efficiency, and improving company performance.
- When auditing grant applications, by meeting strict deadlines, we examine whether the application serves the purpose of the subsidy, its reporting and recording system complies with the subsidy contract and the legal demands, and the use of the grant is in accordance with the goal of the subsidy. For compliance with EU and national application standards, generally the reporting needs to be audited as well.
- When auditing the evaluation of contribution in kind for assessing the value of non-monetary legal contributions, we provide an audit statement about the value of the contribution in kind such as physical or intellectual property, rights representing pecuniary values or assets.
- Asset evaluation is needed in case of company transition, change of ownership, company sale, equity arrangement, or credit application. At company transition, the auditing covers the examination of financial reports of the predecessor and the successor in order to determine the proper values. This way the utilization of financial and tax advantages might become possible through the transition.
- Due diligence: business transactions (investors involvement, company or branch purchase) mean great opportunities and at least the same level of risk as well for corporates. Accurate and timely information discovered by the due diligence process is a great base for making good decisions. We call your attention to the tax, accounting, and financial risks. We prepare risk assessments and define weak points in order to make the targeted company transparent for investors. We make recommendations regarding the areas of improvement for optimizing company operations.
- The auditing of foreign currency conversion is considered a special accounting situation. Legally it has auditing obligations when a company changes the base currency of its bookkeeping e.g. from HUF to EUR, or the other way around. One of the main advantages of a well-considered decision of currency conversion is that the balance sheet results stay relatively constant with stable operating profit results and reduced foreign exchange risk at the same time.