Audit

According to the national accounting standards, Baker Tilly Bel provides the following audit services as:

  • the accuracy of accounting transactions;
  • the reliability of annual financial statements;
  • the intended use of credits and investments;
  • the financial position of the investor (the initiator of the investment project);
  • the financial position of the securities issuer;
  • the other indicators of financial and economic activities of the organization or private entrepreneur.

According to the international financial reporting standards auditing, Baker Tilly Bel provides the following services as:

  • the review of financial statements and auditing the agreed-upon procedures according to the International Standards on Auditing  (ISA).
  • the audit of financial statements according to the International Standards on Auditing (ISA);

The related services include:

  • the evaluation of the enterprise value during the conclusion of a sale contract or during the settlement of other transactions connected with establishment, changing and termination of the proprietary rights;
  • the documentary evidence of the statutory fund formation. 

The audit report on the enterprise value is required, as a rule, during the settlement of the transaction connected with the sale of the unitary enterprise as a property complex. In practice, the change of the unitary enterprise’s owner is mediated by such a transaction.

According to article 532 of the Civil Code of the Republic of Belarus, before signing of an enterprise sales contract as a property complex, the inventory report, the accounting balance sheet, the report of an independent auditor on the value of the enterprise as well as the list of all debts (obligations), included in the composition of the enterprise with the indication of creditors, the nature, amount and terms of their requirements should be prepared and considered by the parties.

The audit report is prepared with due consideration to the requirements, enumerated in this article. The value of the enterprise is estimated on the basis of the net assets amount, calculated according to the procedure, established by the legislation.

According to the Republic of Belarus legislation, the documentary evidence of the statutory fund formation by an audit firm is required for commercial organizations with foreign investments and for residents of free economic zones.

Сontact

Andrei Zhurnia

Partner, Auditor

ajur@bakertilly.by