AUDITING

This service consists on revising, examining and evaluating the results of the administrative and financial management of a company. At the end of the work, we produce an audit report that allows us to render an independent professional opinion based on the results of the field work carried out, as well as a letter for the management in which we detail a series of findings and recommendations that might be implemented to strengthen strategic issues within the organization at a financial, accounting, administrative, operational, IT, fiscal and integral level.

SCOPE OF THE AUDIT

The audit will be carried out according to the Auditing Standards duly accepted and adopted by the Public Accountants’ Association of Costa Rica, and will be aimed at expressing a professional opinion to determine in the financial statements of the client reasonably represent his financial situation, his operational results, his cash flows and the statement of changes in equity at the closing of a determined fiscal period, in accordance to the mandatory International Accounting Standards.

Our audits are based on selective evidences of the financial information and of the accounting books, aimed at determining if there are significant deviations that may affect the CUSTOMER’S interests.

Likewise, if there are situations that are contrary to the internal audit’s inspection that generate significant affections, we would be expanding the scope of our sampling with the purpose of giving a higher level of security to our scope.

AUDIT TYPES

Financial Audit

Operational Audit

Systems Audit

Forensic Audit

GENERAL OBJETIVE OF THE AUDIT

Verify Financial Statements

Verify that the Financial Statements of the customer corresponding to a determined fiscal period are prepared without prejudice and in compliance with the International Accounting Standards.

Reliability

Verify important documentation

SPECIFIC OBJETIVES OF THE AUDIT

Reasonability

To establish the reasonability of the information and of the records presented in the Financial Statements.

Selective Sampling

Evaluate Accounting Principles

Reliability of the IT

Level of Compliance

Working Program of the Audit

Perspective of the Audit

The current perspective of the external audit requires to dispose of the updated practical and analytical knowledge regarding the systems and the business environment of the Company. Hence, it will be possible to come to valid conclusions that will have a real sense within the context and the dynamics of the Organization.

In this line of thought, our approach, in short, will be aimed to the following:

01

Job Planning

Job planning, in such a way that it will allow the auditor an integral understanding of the Company and based on that, to be able to set the objectives of the audit.

02

Examination of the External Factors

To dedicate to the examination of the external factors that have an impact on the operations of the Company, fundamentally in aspects related to the financial, economic and legal matters.

01

Compliance of the Objectives

The compliance of the objectives will be done for the period being studied by way of programed visits in two different stages. Each stage will be aimed at the programed actions and activities.

Main Techniques of the Audit

In following we present some of the techniques used in the execution of a financial statement audit

Analysis, planning and definition of significant areas

Since each one of the areas of the financial statements has its own distinct characteristics from the point of view of their relative importance, complexity and volume of the transactions and accounting procedures, etc. We will carry out a preliminary analysis of the variations and trends of the financial statements, etc., to determine the risks associated to the each claim and the significant areas to which the greatest efforts of the audit are going to be destined.

Statistical and non-statistical sampling

The volume of the customer’s transactions requires the auditor to use sampling techniques that will allow him to obtain the evidence of the reasonability of each claim by way of a portion of the population. That is why our samples are based on sampling techniques that are especially designed for audit jobs, in where the size of the samples are associated to the evaluations of the internal audit and to other related substantial procedures.

The way to Develop the Audit

To be able to comply with the planned objectives in the approach of the audit, the following must be done:

To carry out a strategic plan for the audit of the financial statements of the Customer.
Identify, document and evaluate the structure of the internal accounting and IT control.

Audit Reports

As a result of our audit, the customer will receive the following information:

01

The Audited Financial Statements:

a. Opinion of the Independent Auditors. b. Comparative Balance Sheets with the previous year. c. Comparative Income Statement with the previous year. d. Cash Flow Statement. e. Equity Change Statements. f. Notes to the Financial Statements.

02

Letter to the Management

Letter to the Management, in which the findings of the weaknesses of the internal control are revealed, and the eventual deviations that have been determined, through which reasoning and recommendations for their correction are issued.

Phones

Address

Auditing