Statutory audit of financial statements

The statutory audit of financial statements is conducted in cases stipulated by the legislation of Ukraine. 

The statutory audit is an examination of annual and consolidated financial statements of an entity for the purpose of expressing an independent auditor's opinion on the compliance with the set out criteria and general rules of the applicable framework (Ukrainian GAAP, IFRS).

The task of the statutory audit is to provide the users of the annual financial statements (including regulating authorities) with assurance about their completeness and reliability.

As the result of our audit the following documents will be issued:

• Auditor's report on reliability of the financial statements and their compliance with the set out  criteria and general rules of the applicable framework;
• Report (in form of Management letter) on problem issues identified as the result of the audit with our conclusions and recommendations how to eliminate the identified deviations.

When performing our audit and preparing a report (opinion) we follow International Standards on Auditing (ISA), the legislation regulating audit activity in Ukraine and the state (regulatory) authorities’ laws and regulations governing the statutory audit of financial statements.

The methods and approaches resulted from our practice allow us to conduct the statutory audit of the entities' financial statements within an optimal time-frame. 

AF Factor-Audit LLC has successfully passed external quality control with respect to the quality of its audit services (Decision of the Audit Chamber of Ukraine No. 220/4.1 dated 23.09.2010), thereby confirming their professional skills and knowledge. The firm has been included in “Register of audit firms satisfying the criteria of the Audit Chamber of Ukraine for conducting statutory audit”.

Strict compliance with International Standards on Auditing and Code of Ethics for Professional Accountants by our specialists guarantees confidentiality and professionalism to all our Clients and Partners. 

  
AF Factor-Audit LLC has conducted the statutory audit:

• for the year ended December 31, 2010 in the following companies:

     PJSC “Pryluky plant - “Belkozin” 

     PJSC “Poltava Medical Glass Factory” 

• for the year ended December 31, 2011 in the following companies:

     PrJSC “Finprofile”

     JSC “Complex “Bezlyudovskiy Meat-Packing Plant”

• for the year ended December 31, 2012 in the following companies:

     PrJSC “Finprofile”

     PJSC “Poltava Medical Glass Factory”