A useful and effective audit Our services are provided with excellence by experienced professionals in the field, members of professional organizations in Romania as well as internationally (ACCA). Our quality standards comply with the methodology of the Kreston network and the International Standards on Auditing (ISA). Our experience, as well as the quality of our resources, allow us to find ways to solve problems as they arise. What will an audit do for your business? Greater credibility and reliability of internal economic information. Achieving better economic and business development. Improved internal management. Increased value and image of the company in the eyes of third parties. Improved relationships with credit institutions and rating agencies. Gaining competitive advantages. What type of audit do you need? Audit services for companies Financial Audit Our team brings together professionals with extensive experience in auditing, able to meet client needs through trust, credibility, quality of services and professionalism, with an area of expertise covering all types of entities across all sectors of activity. The purpose of an audit is to provide an independent and objective examination of the financial statements, which increases the quality and credibility of the financial statements obtained by the company’s management, leading to increased user confidence in the financial statements, reducing investor risk and, implicitly, the cost of capital. The advantage we offer you through our membership in the Kreston international accounting and audit network, a network that brings together over 20,000 professional firms worldwide, is that we benefit from advisory services at international standards, making our services an alternative to the BIG 4. Another factor that differentiates our approach is the involvement of partners and audit team members at every stage of the audit. During an audit engagement, we follow these procedures: identifying significant areas and systems identifying and assessing risks testing and evaluating internal control verifying documents, reconciling information and obtaining evidence examining financial statements, analyzing subsequent events discussions with management and recommendations issuing the audit opinion Related Services Agreed-upon procedures audit engagements for a specific purpose The objective of an agreed-upon procedures engagement is for the auditor to perform audit-type procedures agreed together with the parties who requested the engagement, resulting in the preparation and presentation of a report on factual findings. Within such an engagement, we can jointly establish the nature, duration and scope of the procedures you would like us to perform, indicating, if applicable, the identity of the documents and records to be analyzed, the persons to be contacted, or the parties from whom confirmations should be obtained. Although the auditor will not express any assurance in the factual findings report, presenting the information based on the agreed procedures, users evaluate for themselves the procedures and findings presented by the auditor and can form their own conclusions. The report is intended only for those who requested and agreed together with the auditor on the procedures applied, in order to avoid misinterpretation of the conclusions. Analytical procedures applied: interviews and analyses recalculations, comparisons and other precise checks observation inspection obtaining confirmations presentation of conclusions Audit of financial reports prepared at the request of international financial institutions In recent years, we have become partners of international financial institutions, having been accepted by them as auditors of the funds they have invested or provided under programs carried out in our country. Tax audit The complexity of tax legislation and the difficulty in applying it represent a major concern for business people. The purpose of a tax audit is to protect the company against tax risks by analyzing its activity, the way tax legislation is understood and applied, and the company’s tax returns. In this regard, the auditor can perform the following activities: examining the activity from a tax perspective, identifying risky practices and issuing recommendations to eliminate future tax risks estimating amounts unpaid to tax authorities that could arise in the event of a tax audit Due diligence Through this process, Kreston Romania supports investors interested in acquiring investments. Analyses and examinations of information from various perspectives, identification of business risks from an accounting, legal, tax, human resources and market standpoint, adequacy of control systems, compliance with specific accounting and tax regulations, and the fair presentation of financial reports provide a comprehensive view of the business’s risk and quality. This is not an audit; it is an assessment with a different approach to the above elements, focusing mainly on risk and adequacy. Internal Audit Internal audit involves an objective examination of the overall activities of an entity in order to provide an independent assessment of risk management, control and the entity’s governance processes. Within an internal audit engagement, we propose the following main objectives: verifying the compliance of activities carried out by a company with its management policies, programs and strategies, as well as with legal provisions assessing the degree of adequacy and application of financial and non-financial controls established and carried out by management in order to increase operational efficiency assessing the adequacy of financial and non-financial data/information intended for management to understand the reality within the company protecting assets and identifying methods to prevent fraud, errors and losses of any kind We offer the following types of internal audit: compliance audit: to ensure adherence to the rules, regulations and legislation applicable to a company operational audit: to ensure the efficient and effective conduct of a company’s operations information systems audit: to ensure the proper functioning of the information system throughout the life of a business performance audit: to ensure the efficient use of resources in achieving a company’s objectives special engagements: refers to fraud and corruption investigations, or any other special service, with management’s approval Analytical procedures applied: interviews and analyses recalculations, comparisons and other precise checks observation inspection obtaining confirmations presentation of conclusions IFRS Reporting Compilation services for financial statements in accordance with IFRS or other reporting frameworks Compilation of financial statements is a service that consists of preparing and presenting financial statements based on data provided by the client. The procedures applied in such engagements are not intended to provide assurance on the financial statements in question; however, users of this information nevertheless believe they benefit from the involvement of a professional who brings their knowledge and expertise to the preparation of these financial statements. EU Funds Audit An audit is mandatory in the case of European funding; however, only a rigorous assessment will guarantee both the reimbursement of expenses incurred and the elimination of the risk of having to return funds received and used for ineligible expenses. The audit reports issued will contain: procedures performed and factual findings compliance of expenses with the project budget and analytical review verification of expense eligibility; accuracy and recording administrative (indirect) costs verification of funding project revenues Types of structural funds audited: SOP IEC – Sectoral Operational Programme Increase of Economic Competitiveness SOP ACD – Sectoral Operational Programme Administrative Capacity Development SOP HRD – Sectoral Operational Programme Human Resources Development International cooperation programs Our team is ready to discuss your business challenges and goals—from tax strategy and compliance to business advisory and international expansion. We provide clear, practical guidance backed by deep Romanian market expertise and global best practices. Contact us AuditFinancial audit, internal audit, review engagements, related assurance services, international reporting, and due diligence.AccountingOutsourced accounting, financial statements, mergers and acquisitions, financial analysis, accounting expertise, and additional support services.TaxCorporate income tax, VAT, tax advisory, tax compliance, fiscal representation, tax refunds, tax inspections, and real estate investment advisory.ConsultingAdvisory services on direct and indirect taxation, international tax planning, tax incentives for investments, and assistance throughout tax inspections.PayrollPreparation of employment contracts, personnel file management, payroll calculation and payroll processing, preparation of tax declarations, and online submission to the relevant authorities.Legal SupportWe support your business from the very beginning, assisting with company incorporation, registered office changes, branch office registration, share transfers, and share capital amendments.