Main Service

Audit of financial statements of public sector entities, including insurance companies

We ensure compliance, transparency, and accuracy of financial reporting for public sector entities and regulated institutions.

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Definition

What does the service include?

The audit service for financial statements of public sector entities and insurance companies consists of an independent examination of financial reports aimed at expressing a professional opinion on their accuracy, completeness, and compliance with the applicable legal and regulatory framework. The audit is conducted in accordance with national legislation, International Standards on Auditing (ISA), and specific requirements applicable to the public sector and regulated entities. The process includes the assessment of internal control systems, analysis of the use of public funds, and verification of compliance with the principles of legality, efficiency, and transparency. Key components of the service:

Verification of compliance of financial statements with applicable legislation and ISA
Assessment of internal control systems and administrative procedures
Analysis of the use of public funds or managed resources
Identification of financial, operational, and compliance risks
Issuance of an independent audit opinion

Target Audience

Who is it for?

The service is intended for public sector entities and institutions operating in regulated fields, which are subject to mandatory audit requirements or seek to enhance transparency and financial accountability.

Public sector entities Public institutions and authorities managing public funds and subject to strict reporting and control requirements.

State-owned enterprises Companies in which the state or public authorities hold ownership interests.

Insurance companies Regulated entities required to undergo financial audits in accordance with sector-specific requirements.

Regulated institutions and organizations Structures operating under the supervision of regulatory and oversight authorities.

Added Value

Benefits for the Client

Institutional transparency and credibility

Enhances trust among authorities, partners, and the public in the accuracy of financial reporting.

Compliance with legal requirements

Ensures adherence to legal norms, sectoral regulations, and international auditing standards.

Risk reduction

Identifies financial, administrative, and compliance risks before they generate significant impact.

Improved governance

Provides recommendations for optimizing internal processes and increasing the efficiency of resource utilization.

Methodology

Our Work Steps

Initial analysis and planning

We assess the applicable legal framework, the specifics of the entity’s activity, and identify high-risk areas.

Data collection and examination

We analyze relevant financial and administrative documents and internal procedures.

Testing controls and compliance

We verify the effectiveness of internal control systems and compliance with legal and regulatory requirements.

Audit reporting and opinion

We prepare the audit report and issue an independent opinion on the financial statements.