AUDIT AND RELATED SERVICES
Our approach to audit services represents combination of specialist skills and experience in area of auditing, risk assessment and control environment in order to create a lasting quality.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The selection of procedures depends on the auditor's judgments, including the risk assessment of materially significant erroneous view of the financial statements.
In contemporary economy, business risks not detected on time and not managed adequately present the major threat to the quality and the reliability of your financial statements. If you fail to interpret the risk properly, you put the credibility of your company at stake.
Through the identification of the areas exposed to risk and focusing on the processes and controls quality, implementing tests to support the amounts in the financial statements and analyses of the reasons for changes we come to the efficient audit process. Auditor’s opinion on financial statements gives you the highest level of assurance you can get.
VM KOD can, by applying the international audit standards and audit methodology of VM Kod, offer you the following audit services:
- Statutory audit of financial statements in accordance with the local regulations - it is a legally defined process of reviewing public financial statements, accounting documents and other data regarding financial activity of a business entity,
- Audit of financial statements prepared in accordance with complete international accounting standards (IAS and IFRS),
- Special purpose audit - audit tailored according to needs and request of respective client. Audit scope, subject and plan is determined in cooperation with client in order to meet all client expectations (ISA 810).
VM KOD can, by applying the international assurance standards and adopted internal procedures, offer the following services related to audit:
- Review of Financial Statements in accordance with ISRE 2400 (former ISA 900) - Through the Report on Review we help you identify the problem before it turns into a risk for you business operation,
- Examination of Future Financial Information in accordance with ISAE 3400 (former ISA 810),
- Agreed-Upon Procedures Engagements in accordance with ISRS 4400 (former ISA 920) - Compliance with the procedures generally refers to the engagement related to donor projects financed by international organizations,
- Compilation of Financial Information in accordance with ISRS 4410 (former ISA 930).
Also, VM Kod can, by applying appropriate standards, offer you services:
- Internal Audit Services - Internal audit services are performed in accordance with International Standards on Internal Audit and may be provided in a joint work with the client and his staff and/or by independent self-engagement,
- Introduction and adjustment of internal control and standardization of client’s business (regulations, directives, guidelines, standardized forms ,...) taking into account local legislation and procedures for SOX 404.
JP Komunalne djelatnosti Bar,
Jugoinspekt a.d. Podgorica,