Audit
The purpose of the financial statements audit is to enable the auditor to express an opinion on whether the financial statements in all material aspects are composed in compliance with the Armenian legislation.
The auditor opinion provides high (but not absolute level) of confidence which valuates credit-ability towards financial statements. In the result of the audit a writing audit opinion (as well as an audit report (letter to management) if it envisaged by the contract) is given to the customer.
The auditor opinion provides high (but not absolute level) of confidence which valuates credit-ability towards financial statements. In the result of the audit a writing audit opinion (as well as an audit report (letter to management) if it envisaged by the contract) is given to the customer.
The audit can be exercised in following main directions:
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Audit ancillary services:
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The importance of audit
In the result of the world economy globalization and financial markets unification, the importance of the independent audit of the annual financial reports, which is prepared in compliance with IFRS, has risen sharply.
Execution of the audit valuates credit-ability of the external users, such as investors, financial institutions, tax authorities and potential customers towards audited financial statements. The audit is very important especially for the shareholders, since it enables them to find out weakness of the accounting and internal control, errors and fraud. |
FREE-WILL AUDIT normally is arranged by shareholders or beneficiaries, aimed at acquiring of fare picture of an organization's activity. The need of FREE-WILL AUDIT and ancillary services is in presence particularly in course of relations with tax and other control authorities.
In case of COMPULSORY AUDIT demand for annual audit should be stipulated by appropriate law. Particularly, it is mandatory that the following kinds of companies should be audited:
In case of COMPULSORY AUDIT demand for annual audit should be stipulated by appropriate law. Particularly, it is mandatory that the following kinds of companies should be audited:
- Big companies, regardless of legal types of an organisation, which had in the previous year gross sale more than 500 mln. AMD, or such organizations which as of end of the previous year has registered total asset's book value more than 500 mln. AMD (Law on Accounting, Article 24)
- Insurance companies
- Investment companies
- Pawnshops
- Banks & credit organizations
- Funds
- Open Joint Stock companies
Annual Financial Statements
IFRS 2021 2022 2023 | |
File Size: | 4520 kb |
File Type: |
Accounting
We provide number of accounting related services.
Accounting is s system for collection, registration and generalization of information in monetary expression concerning the state and flow of the assets, equity, liabilities of an organization through comprehensive & continual documented accounting of all economic transactions.
Accounting is s system for collection, registration and generalization of information in monetary expression concerning the state and flow of the assets, equity, liabilities of an organization through comprehensive & continual documented accounting of all economic transactions.
->Creation, rehabilitation and implementation of the accounting
->Composing of the financial reports
->Financial reports re-submission in compliance with Armenian Accounting Standards, International Financial Reporting Standards (IFRS) or Generally Adopted Accounting Principals (GAAP)
->Development of the Accounting policy
->Development of the accounts working plan
->Preparation of the handbook on standard transaction bookkeeping
->Composing of the financial reports
->Financial reports re-submission in compliance with Armenian Accounting Standards, International Financial Reporting Standards (IFRS) or Generally Adopted Accounting Principals (GAAP)
->Development of the Accounting policy
->Development of the accounts working plan
->Preparation of the handbook on standard transaction bookkeeping
info@yerevanaudit.am
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+374 10 52 20 73
+374 93 25 05 80 |
Armenia, Yerevan
Baghramyan ave. 3 (4th floor) |