Revision of financial and economic activities

It is a system of compulsory controlling activities connected with document audit and ex-post review of validity and relevancy of business and financing transactions of the audited organization for the audited period, their accuracy in recordkeeping and legality of managerial and chief accountant's acts.

Why Crowe Audex?

• More than 26 years' experience in audit and consulting market.
• The largest audit and consulting company in the Volga Federal District: more than 500 companies annually choose us to conduct their audit.
• We have more than 90 members in our staff, most of them are qualified auditors, consultants and lawyers, have science degrees and rewards.
• We have favourable opinions about the results of external control of the Federal Service for Fiscal and Budgetary Supervision.
• We guarantee confidentiality of your data.
• We provide maintenance during all the agreement period.

WHY DO YOU NEED INDEPENDENT AUDITORS TO PARTICIPATE IN SUCH REVISIONS?

Professional approach and experience of the Crowe Audex specialists will help you to get objective and independent assessment and solve assigned tasks in planned time. 

DISTINCTIVE FEATURES OF REVISION OF FINANCIAL AND ECONOMIC ACTIVITIES FROM AUDIT:

• the main difference lies in objectives of the control activity. In case of revision the main objectives are review of compliance with law, practicality and effectiveness of financial and economic activity (or particular transactions), revision of operating expenses (for certain areas and organizations). The primary objective of audit is to express an independent opinion of the auditor about the fairness of financial statements;
• audit as opposed to revision of financial and economic activities does not involve liability, as one of its objectives is to review the state of affairs and identification of risks that can affect reliability of functions. So, auditors can give non-compulsory recommendations. Among the revision of financial and economic activities principles there is a principle of division of description of violations detected in course of revision and their assessment. That is why the distinctive feature of revision of financial and economic activities is that based on the results of revision, specialists consider the questions of liability of authorization of any transaction (with preliminary control provided);
• special attention is given to inventory of fixed assets and those for future use as one of its objectives lies in reporting about the existence of property and review of assets’ safeguard;
• as a rule, according to normative documents, audit is an optional procedure. In case of revision of financial and economic activities depending on the objectives set by a client, particular business transactions can and shall be totally reviewed, without any omissions to define precise asset value, obligations, losses, fraud etc;
• finally, revision of financial and economic activities comprise a wide range of objectives, such as (except for accounting examination procedures) analysis of financial and economic activities, executive control over business plan, review of raising debt funds explicability, review of authorization of transactions, assessment of investment and financial placements, review of effectiveness of contractual work, assessment of organization of corporate management and checking of compliance to corporate discipline and safety performance, assessment of personnel work etc.

To get information about the cost of the service please call us or order a callback.