Badanie sprawozdania finansowego

Audit of financial statements

The resulting laws of the Accounting Law define the entities that are tasked with periodically performing the audit of financial statements.

Who is covered by the audit of financial statements?

The audit of financial statements is mandatory in some cases. When running your company or enterprise, it is worth knowing whether this provision also applies to us.

The audit covers specific reports, for example, the financial statements of acquiring companies and those established in the near future, or the annual individual reports of sub-funds. It is also necessary in the financial sector and covers the reports of branches of foreign investment companies, branches of credit institutions in Poland, domestic payment institutions, domestic banking branches and foreign and domestic investment companies.

The obligation applies to units whose operation is based on the regulations on the management of alternative investment funds and units operating under the regulations on the operation of pension funds.

It is worth noting that the audit of financial statements is not just an obligation. In addition to the units that must perform them, it is possible for a company not covered by this obligation to also perform an audit.

Wanting to find out whether we are covered by the audit of financial statements, we can contact a proven tax bureau.

An auditor performing the audit

An auditor is a specialist who analyzes the financial statements of an entity. Depending on the type of business, a specific official is selected who has experience in the sector of the company’s operation.

The auditor is selected by the owners of the entity or its shareholders. In some situations, when specified in the contract, a designated board of directors, for example, may be responsible for this.

In the case when we are subject to an audit, we should already look for a specialist in the current year. The signed contract stipulates the date within which the inventory, in which the expert will participate, must fit. In terms of dates, it is very important to keep an eye on the deadlines, if we exceed the set period and the examination has to be postponed, it may be undermined.

What to do when the study shows deficiencies?

Any deficiencies and problems that the survey revealed must be public. They can’t be hidden, because the survey was designed to show whether the entity is operating properly. Any error shown must be corrected as soon as possible and the deficiencies corrected.

The expert must have confirmation of the disclosure of the assessment, because otherwise he sees that there is an attempt to cover up the facts in the entity, and then he can refuse to give an opinion, which we must account for.

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