Main Services Audit

Audit

One of MEF-Audit’s priority activities is providing auditing services according to Federal Law No. 307-ФЗ (No. 307-FZ) On Auditing Activities, federal auditing standards, standards of the self-regulating organization as well as internal corporate standards.

  Audit

is an independent inspection of accounting (financial) reporting of an audited entity to express an opinion on the validity of such reports.

Auditing activity (auditing services)

is performing an audit and providing supporting services by auditing organizations and individual auditors. MEF-Audit offers the following auditing services:

Audit of accounting (financial) statements:

Mandatory audit is an annual mandatory audit of accounting (financial) reports of an audited entity according to Federal Law No. 307-ФЗ (No. 307-FZ) On Auditing Activities of December 30, 2008.

Voluntary audit is an audit of accounting (financial) reports of an audited entity upon request of such entity.

Audit results are presented in a report with recommendations and auditor’s opinion according to Article 6 of the Federal Law On Auditing Activities and Federal Auditing Standards (FSAD) 1/2010, 2/2010, 3/2010.

A successful audit indicates a well-running accounting system, accurate budget settlements and absence of tax risks, and, primarily shows that the performance data reported by the company is reliable.

Associated Services

Review Engagement

Review engagement is an express audit that requires less labor costs. The goal of review engagement is to identify risks that may result in material misrepresentations in accounting (financial) reports. The review allows the auditor to determine whether accounting (financial) reports present the actual position of an economic entity according to applicable accounting (financial) reporting rules. A report and opinion are submitted to the client based on the review results.

Agreed upon Procedures

Agreed upon procedures may be performed regarding certain financial information, for instance, accounts payable or receivable, purchases from affiliated persons, one of the elements of accounting (financial) reports, for instance, a balance sheet or accounting (financial) reports in general by performing auditing procedures agreed upon with the customer in advance. Based on the results of such services, the client receives a report with the facts identified regarding financial information.

Other Audit-Related Services:

  • accounting consulting services;
  • tax consulting;
  • analysis of financial and economic activities of organizations;
  • economic and financial consulting including development of a financial management system;
  • financial planning;
  • budgeting system implementation;
  • comprehensive financial and economic analysis of business activities of a company;
  • management consulting;
  • legal support and consulting;
  • representation of clients’ interests:
    • in civil and administrative legal proceedings;
    • in tax and customs legal relations,
    • in state and local authorities;
  • appraisal activities;
  • development and analysis of investment projects, business plan development.
MEF-Audit has developed and applies internal control methods and procedures ensuring high quality of auditing services.