Other audit services

Demand for financial information in Ukraine increases to cover the requirements of the users (state authorities, investors, owners, shareholders etc.). Verification of such information is not included into audit of financial statements. As a result, the users of financial information require due services to strengthen confidence to such information.

It is impossible to determine all tasks of the auditors. But we think as important to determine some services and

to explain their difference from audit.

Audit and confidence support (excluded from audit) apply different standards.

To confirm information reliability, we should apply international standard 3000 “Confidence support excluded from audit or review of historical financial information”; detailed …

In particular, confidence support should include all tasks of the auditor to estimate compliance of audit object

with required criteria in all significant aspects. For instance, such tasks may include the following:

• conformity assessment of formation of authorized capital of joint stock companies with the legal requirements;

• audit of the regulatory capital for the banks;

• audit of formation of authorized capital and appreciation of net assets over authorized capital under Insurance Act of Ukraine and under the requirements of the State committee of regulation of financial services of Ukraine;

• confirmation of financial standing of the issuers;

• audit of perspective financial statements;

• audit of conformity of some factors with the required criteria: audit of investment projects, audit of target use of loan funds etc.

Except audit, audit services also include related services regulated under International standard of related services 4400 “Fulfillment of agreed procedures in financial information”. Detailed …

The following may be included into agreed procedures:

• reconcilement of reciprocal payments with the creditors (the debtors);

• turnover assessment;

• liquidity calculation;

• assessment of supplier (buyer) dependence;

• participation in inventory;

• assessment of the structure of actual expenses (income) and conformity with the required criteria;

• analysis of contract fulfillment by the parties;

• analysis of target use of funds;

• balance audit;

• audit of statement of financial results;

• audit of statement of changes in equity;

• fulfillment of some procedures concerning financial statement package

When required works are completed, the auditor should submit to the client due statement of actual results

of agreed procedures in financial information.

It is important to note that main difference of the agreed audit procedures and the traditional audit is the result as confidential statements for the client but no auditor’s statement for the users.

To receive more detailed information, please, call by tel: (044) 254-27-91

or by e-mail: office@afrada.com.ua

Additional information

Corporate values

Our relations with the clients, the employees and the partners are based on the corporate values

of Audit Firm «Rada Ltd» as our principles and methods of business.

Our values:

• Neutrality and independence in information assessment

• Professional competence and fairness

• Responsibility for result

• Argumentativeness

• Benefit of our services for the client

• Confidentiality

• Maximum independence in work

Audit Firm «Rada Ltd» Team aspires to be

of maximum benefit for our clients.

We always try improving our services and

we are never satisfied with what has already

been achieved.

We use complex approach, give maximum attention to details and individual needs of each client, try to solve quickly evident problems and determine concealed ones.

Our company’s motto is: we aspire to innovatory and advanced solutions!