Special purpose audit

Special purpose audit is aimed to examine the issues determined by the client, and directly related to economic activity of the company. It also aims at examination of compliance with certain procedures, acts and rules.

Types of special purpose audit: 
  • Tax audit;
  • Management audit;
  • Review of financial statements;
  • Audit of internal control system;
  • Efficient use of property analysis;
  • Staff audit;
  • Audit of business processes;
  • Other procedures.
Special purpose audit workgroup varies depending on type of work, and in the case of necessity may include various specialists, such as: 
  • Auditors;
  • Tax experts;
  • Lawyers;
  • Appraisers;
  • IFRS/ foreign GAAP specialists;
  • Audit and accounting methodology experts.
On client’s demand the special purpose audit results may be presented in the form of memorandum or a report with detailed description of examined issues of the company’s activity. 

Efficient Use Of Property Analysis

Efficient use of property analysis is executed to provide a client with complete and objective information about availability, structure, cost and reliance of property and about efficiency of calculation schemes. Also we compare pricing procedure used by client with market conditions. Within this analysis our specialists calculate and analyze the economic performance of separate property units and complexes, as well as assess the effectiveness of the company as a whole.

Review Of Financial Statements 

Review of financial information may include examination of statements of agreed period or agreed information sector. Agreed period may range from several years to months and quarter.

Audit Of Internal Control System

Internal control system is a combination of methods and procedures aimed at protecting the assets and at prevention of mistakes, providing the accuracy and completeness of accounting records and timeliness of financial reporting. Within the audit of internal control system we examine:
  • Control environment established in a company;
  • Process of rating of risks connected with tax and financial statements;
  • Information system related to the financial statements preparation;
  • Availability of control actions and monitoring control resources.

Management Audit

Management audit is an estimation of the effectiveness of the current management system in single companies as well as in holding structures. Management audit solves the following tasks:
  • Evaluation of strategy and policy of business development;
  • Evaluation of the efficiency of current management system;
  • Analysis of formation of management system within the corporate structure for synergy effect valuation;
  • Evaluation of information flow schemes and level of management system automation.

HR Audit

HR audit involves analysis of efficiency of HR-management and remuneration. It includes the following stages:
  • HR-policy diagnostic.
Evaluation of reasonableness of staff headcount and its structure, along with the personnel list; analysis of staff base stability and turnover indexes; organization human reserves management.
  • Evaluation of the efficiency of labor costs.
Evaluation of labor productivity; assessment of the correspondence of labor productivity growth to salary increase; estimation of motivation system efficiency through staff payback indexes.
  • Staff audit.
Estimation of validity of staff amount and structure as well as staff list, analysis of staff base stability and traffic indexes, dealing with human reserves. Rating of labor productivity, comparison of labor productivity and salary increasing, Estimation of motivation system efficiency through staff payback indexes.

Julia Koroleva, Director of the Department of Audit Methodology and Quality Control will provide you with additional information on these services.

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