Auditing financial statements of companies listed on the Warsaw Stock Exchange

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Audit of financial statements

 

We specialise in auditing and reviewing financial statements (including consolidated statements) prepared in accordance with the Polish Accounting Act or International Financial Reporting Standards / International Accounting Standards. We perform audits in accordance with ISA standards and guidelines. We perform audit for companies listed on the Warsaw Stock Exchange, complex enterprise groups, international institutions as well as the SME sector.

In each case our audit is based on thorough understanding of the audited company and its business environment. With this approach, we can develop optimal and effective solutions, rendering thorough and comprehensive audit, thereby meeting our Clients’ needs.

Our experts offer high mobility in their work, coupled with effective solutions. Their extensive experience in accounting and finance guarantees reliability of their work. We ensure quality of our services through our internal control system and continuous supervision performed by chartered auditors.

Our expert teams are selected in a way to ensure optimum efficiency of the service. For complex assignments we set up problem-solving teams with experts and specialists representing various sectors to ensure comprehensive and in-depth results of our work.

 

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Audit of financial statements for listed companies

We offer reviews and audits of financial statements (individual and consolidated) for companies listed on the Warsaw Stock Exchange. Our work is conducted in compliance with all applicable standards specified in the Polish Accounting Act, the National Auditing Standards, ordinance issued by the Minister of Finance on 19 February 2009 regarding current and periodic disclosures to be made by issuers of securities and conditions under which disclosures required by non-member state legislation are to be considered equivalent as well as International Standards on Auditing.

To date, we have audited statements of the following companies listed on the Warsaw Stock Exchange.

  • Elstar Oils S.A., Elbląg,
  • PAGED S.A., Warsaw,
  • PROCAD S.A., Gdańsk,
  • SIMPLE S.A.. Warsaw,
  • WISTIL S.A. Kalisz,
  • WILBO S.A., Władysławowo.

Essential goal of audit

The scope of work undertaken as part of review and audit of financial statement is consistent with the International Standards on Auditing. The aim of audit is to obtain evidence that would give the auditor reasonable assurance that books of account, with underlying accounting evidence, as well financial statements made on this basis are, in all material aspects, compliant with the Polish Accounting Act, the International Accounting Standards, International Financial Reporting Standards and related interpretations published as regulations of the European Commission. To the extent not regulated in the aforementioned standards, they should comply with the Polish Accounting Act and its secondary legislation. In other words, the auditor states whether the aforementioned elements are accurate and whether the financial statements present a true and fair view of the auditee’s assets, financial standing and financial result. In order to complete this task, auditors conduct examinations they consider appropriate and, if necessary, draw the auditee’s attention to changes that need to be made to books of account and to financial statements.

 


Added value for the Client

Our audit is not only confined to the standard goals which must be achieved during any audit of financial statements. Our experts work to ensure in-depth analysis of all material areas connected with the accounting system, notably:

  • Internal audit system,
  • Financial information flows and communication rules,
  • Risk management system,
  • Accounting for management purposes,
  • Management of financial resources,
  • Methods applied in order to secure assets,
  • Computer-based finance and accounting systems,
  • Document archiving rules.

After completing our audit, we provide a letter of intent to the management (Address to Management Board). The letter contains not only experts’ comments and suggestions regarding specific areas of audit, with recommendations as to compliance with accounting policies but also a comprehensive assessment of the finance and accounting function in the Client’s company with recommendations concerning specific areas of the accounting system. We believe that an independent analysis performed by external experts as well as suggestions developed in the course of an audit represent added value for our Clients and may be used to improve the quality of accounting and related areas in their companies.

We believe in partnership-based approach in helping our Clients to solve their problems.

If you wish to receive detailed information on our experience in your industry, please contact us at This email address is being protected from spambots. You need JavaScript enabled to view it.

 

» Our experience in auditing financial statements