Our audit approach is based on an understanding of the Company's operations, strategy and risk management. This covers not only the management and control systems, but also the more operative and transactional aspects. Additionally, we will provide you with recommendations for added value, within these we cover the performance and integrity of your systems and processes, as well as situations of risk and high impact on your financial information.
Our audit is more than an opinion of financial statements. We offer you a fresh and rigorous multidisciplinary approach to your organization and processes. Our work covers all levels of the Company, with clear objectives for each one and culminates with an Internal control letter that collects our observations on the most relevant aspects reviewed throughout the service.
An avant-garde audit that will take a broad view of the company, through all operations, will be based on the company's business objectives and the risks identified by each level. We will hold frequent conversations related to business issues, improve our understanding of the risks and support our formal financial audit reports. As part of our work, we will issue reports with recommendations aimed at improving the administrative-accounting procedures and the internal control system of the company. You require that your auditors complement your risk management and how each management ensures the reliability of the financial information, which is used for your daily decision making. We start at the top level of the organization, which is why our annual audit strategy is tailored to your operational models and risk management. No other approach responds to change in such a flexible way.
The financial activities in the accounting of any company are defined as follows:
· The authenticity of the facts and phenomena that reflect the financial statements.
· That the criteria, systems and methods used to capture and reflect such events and phenomena in the accounting and financial statements are adequate.
· That the financial statements are prepared and disclosed in accordance with Generally Accepted Accounting Principles, International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS).
· The deliverable report will serve the company for the formal effects before the shareholders, Superintendence of Securities Market-SMV, Superintendency of Banking and Insurance-SBS, financial entities, SUNAT and others is composed of the following content.
Opinion of Independent Auditors
Situation Status
State of Income and Expenses
Statement of changes in Equity
Statement of cash flows
The complementary deliverable report called the Internal Control Letter will serve as an instrument for the Management to improve internal controls and observations of an accounting and tax nature that will be identified as findings and will have the respective recommendations for the lifting of the same. This report is confidential and will only be handled by management.
It is the independent valuation of all the operations of a company, in an analytical, objective and systematic way, to determine if they are carried out, acceptable policies and procedures; if the established rules are followed, if the resources are used efficiently and economically and if the objectives of the Organization have been reached in order to maximize the results that strengthen the development of the company.
In Operational Audit we formulate and present an opinion on the administrative, managerial and operational aspects, emphasizing the degree of effectiveness and efficiency with which material and financial resources have been used through the modification of policies, operational controls and corrective action, develop the skill to identify the subsequent operational causes and explain adverse symptoms evident in the efficient administration.
The objective of the Operational Audit is:
· Identify the areas of cost reduction, improve operating methods and increase profitability for constructive purposes and support the needs examined.
· Determine if the function or activity under examination could operate more efficiently, economically and effectively.
· Determine if the production of the department complies with the specifications given; consequently, various reports, budgets and forecasts are given, as well as the Financial Statements.
· It will be determined if there has been any significant deficiency of defective accounting policies, procedures and practices.
· Identify if the Purchasing or Expenses needs were fulfilled during the year.
· Determine the reasonableness of the policy and rules that are given in the company.
· Review the financing of acquisitions to determine if they affect the quantity, quality and types of purchases if they had been made.
Our service includes a tax review, considering the application of procedures and techniques similar to those used by tax inspectors of the Tax Administration, in order to determine the potential tax contingencies that may arise during the periods subject to review, in application to the regulations and tax devices in force.
In addition to this, a complete review in regard to statements submitted (historical) and to present, to issue reports of possible contingencies committed or to commit to then diagnose possible contingencies and rectifications.
Finally, a Report is issued, which consists of exposing the observations with tax responsibilities and thus avoiding future possible fiscal contingencies that may have.
The development of the service includes, interviews with the different areas, review of the physical documentation, evaluation of the accounting and tax treatment, crossings of information of the operations to later determine the tax structure of your company, in order to correct the omissions or infractions that could be presented, so that they can then benefit from the tax benefits, such as the graduality regime and / or incentives with the application of rebates.
Our objective of the service is to detect infractions that the tax administration could detect, and can not cause any fiscal damage.
