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Financial audit
What is it?
A financial audit enables you to show investors, shareholders, suppliers, banks, etc. the current situation of a natural or legal person.
By analysing accounting documents, we will obtain a true picture of the assets, the financial situation and the profits of any type of entity.
At Capital Auditors, we have professionals with a wealth of knowledge in Assurance Auditing, capable of enhancing the reliability and accuracy of our clients’ financial information.
Who is it for?
- Physical and legal entities that require audits to demonstrate their current financial situation.
- Entities that want to gain an independent overview from someone else or companies for investments, purchases, etc.
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Non-profit foundations and associations
(Non-profit organisations - Third Sector) - Professional Bodies
- NGO's
- Religious congregations
Sectors
- Agriculture and farming
- Food and drinks
- Automotive
- Schools of education
- Construction and real estate
- Distribution - consumption
- Energy and utilities
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Manufacturing
and engineering - Finance and fintech
- Hotels and restaurants
- Professional services
- Transport and logistics
We work with different financial reporting frameworks such as International Reporting, International Accounting Standards (IAS), International Financial Reporting Standards (IFRS), USGAAP, and German GAAP.
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Accounts audit
Professional opinion of the true picture of annual accounts and financial statements, both in companies from the private sector and non-profit companies such as Foundations, associations, NGO’s.
When is it compulsory to audit annual accounts?
- If, for two consecutive years, at least two of the following conditions are met:
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- The total asset items exceeds two million eight hundred and fifty thousand euros.
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- The net annual turnover exceeds five million seven hundred thousand euros.
- The average number of employeesduring the financial year is above fifty.
- The entities have received grants or subsidies financed by Public Administration budgets or European Union funds, of an accumulated total value exceeding 600,000 euros. The requirement of an audit affects the financial year in which the grants or subsidies are received, as well as the years in which the transactions are carried out or investments relating to them are made..
- Companies perform construction works, manage public service, supplies, consultancy and assistance and services to Public Administrations, for an accumulated total value exceeding 600,000 euros, and which represents more than 50% of its net annual turnover. The requirement of an audit will be for the annual accounts of that financial year and the following year.
Limited Review
and agreed procedures
This is undertaken in order to provide the entity reviewed a certain degree of security when an annual accounts audit is not required. Analytical procedures and other review procedures are applied to financial statements.
From the review carried out of the accounting statements, our experts will obtain a conclusion or opinion that will allow them to provide limited security regarding these statements, revealing, in general, the status of internal control systems and accounting systems.
Special reports
As expert auditors, various special reports are producedin accordance with the client’s requirements, including reports relating to capital injections, capital reductions, experts’ reports…
