Audit of Individual and Consolidated Financial Statements

Audit, or verification of Annual Financial Statements is a service which is used by business companies (but also by other entities) in order to increase credibility of the accounting information published. Audit activities are carried out by our company in accordance with the highest quality standards and thanks to our long-term presence on the market and our reputation, we can guarantee credibility and obtaining a maximum added value for our clients.

For each audit engagement we flexibly create audit teams, depending on the object of activities of the client, on the sector in which the clients are operating, their size and accounting framework which has been used for the drawing up of the Financial Statements (Czech Accounting Standards, IFRS, US GAAP etc.). Our auditors can boast extraordinary experience and knowledge in their field of competence, often providing clients with added value by identifying ineffective or risk areas. We consider the maintaining of close contacts with the client to be a standard aspect of our work, while respecting the strict requirements relating to independence.

Besides verification of Individual and Consolidated Financial Statements, we also provide additional audit services, i.e. the services which consist in the removal of uncertainties with regard to the facts verified. This concerns for example:

• Verification of the level of inventory for the purpose of provision of a bank credit facility
• Values of increase in the registered capital in the case of capitalisation of receivables
• Inspection of interim accounting statements
• Verification of consolidation packages for group auditors

Our experienced team is further able to ensure the functions of internal audits, either by way of outsourcing (all activities are ensured by subcontractors) or by using the co-sourcing approach (basic activities are ensured by the client’s staff members, while our experts bring specialisations which the clients are missing).

All auditing services are provided in such a manner as to not only fulfil their legal obligations but also be considered  highly efficient and financially effective. The work quality is checked by internal procedures as well as by regular inspections ensured by the Audit Committee of  NEXIA INTERNATIONAL, and, finally, by competent bodies of the Chamber of Auditors of the Czech Republic.