As part of the financial audit service, we conduct audits of financial statements based on the regulations of the Polish Accounting Act as well as corporate requirements.
We provide audit services in the following areas:
- • examination of individual and consolidated accounts prepared on the basis of Polish accounting rules
- • audit of individual and consolidated financial statements prepared on the basis of International Financial Reporting Standards
- • group reporting packages for consolidation within international capital groups, prepared on the basis of international regulations and group accounting rules
- • Due Diligence reports accompanying merger and acquisition transactions (Mergers & Acquisitions) and related transactions
{tab title="Financial reporting and reviews"
Audit services are specifically dedicated to entities obliged to audit financial statements based on the regulations of the Polish Accounting Act and corporate requirements.
Based on years of experience, Russell Bedford International, we provide high quality professional research services and financial reports reviews including:
- • separate and consolidated financial statements prepared on the basis of Polish accounting rules
- • individual and consolidated financial statements based on International Financial Reporting Standards
- • group reporting packages for consolidation within international capital groups, prepared on the basis of international regulations and group accounting rules
- • Due Diligence reports accompanying merger and acquisition transactions (Mergers & Acquisitions) and related transactions
Part of the work carried out is the review of internal control and document circulation systems existing in units. As a result of the examination procedures, after the completion of the work, we present a report to the Management Boards and owners, including recommendations on, inter alia:
- • improving business processes in financial areas
- • improvements in internal control systems
- • Optimising tax settlements
- • more efficient organisation of accounting systems
{tab title="Reporting and financial reporting"
Financial reporting advice is primarily addressed to entities which, due to their temporary lack of competence or resources, require support in closing reporting periods and preparing periodic financial statements and group consolidation packages
We primarily address financial reporting advice to entities that, due to their temporary lack of competence or resources, require support to close reporting periods and prepare periodic financial statements and group consolidation packages. We also invite stock exchange entities and entities preparing for their debut or listed on the New Connect market.
Within the Financial Reporting Area, we offer professional assistance and support in preparing:
- • Financial reports (including pre-existing units) first test
- • Group reporting and consolidation packages
- • Exchange reports – quarterly, semi-annual and annual
- • The consolidation process and preparation of consolidated accounts
- • Financial reports related to the liquidation process (i.e. opening and closing)
We also participate in the process of placing securities on the public market, ensuring in this respect in particular:
- • Advice in drawing up information memorandums for companies applying for listing on the New Connect market
- • Preparation of financial parts of prospectuses for listed entities
In addition, we offer:
- • Assistance in preparation for closing reporting periods
- • Current financial – accounting consultancy in the settlement of unusual transactions
{tab title="Approval services"}
The statement on the accuracy of forecast financial information improves the reliability of the prepared business plans, forecasts for potential investors as well as forecasts provided in prospectuses and information memorandums of companies debuting on stock markets
The certification services agreed on are increasingly popular among business managers and owners.
The procedures agreed, in a fully individualised manner in active cooperation with the Client, allow, among other things, verification of selected elements of the financial statements, as well as the efficiency of the processes of document circulation and internal control.
The main advantage of the certification services in the agreed scope is the possibility of flexible shaping, resulting from each adaptation to the needs and requirements of the entity or the recipient of the report.
As part of audit and certification services, other than surveys and reviews, we provide:
- • Agreed upon Procedures or AUPs based on International Standard of Related Services 4400 (ISRS 4400)
- • Verification of forecast financial information based on International Standard of Related Services 3400 (ISRS 3400)\
Freedom to design procedures allows for checking with less or more detail than that used during the audit of the accounts.
It also allows verification of certain data, The certification of the accuracy of the forecasted financial information improves the reliability of the prepared business plans, forecasts for potential investors, as well as forecasts provided in prospectuses and information memorandums of companies debuting on stock markets processes that would not be subject to testing or review.
A typical example in this respect is data from business counterparties and suppliers which are not available to the entity on a daily basis. Especially in the context of the sensitivity of such data, an auditor acting under conditions of independence and public confidence is the only possible solution.
tab title=" Company mergers - legal and tax aspects "}
The merger of capital companies, as a case of merger of commercial companies, involves the transfer of the assets (assets and liabilities) of the company acquired to another company (the acquiring company) already existing or the transfer of the assets of the merging companies to the newly created company.
To date, the shareholders (shareholders) of the company being acquired or of the companies merging by the formation of the new company receive shares (shares) of the acquiring or newly bound company for the transferred assets. A company acquired or merged by a new company loses its legal status.
Our advice in this area concerns:
- • developing existing mergers and accounting rules;
- • studies of divisions, transformations and balance sheets;
- • advice leading to the identification of areas requiring additional analysis related, for example, to the tax effects of the transaction, the valuation of the valuer;
- • advice on the preparation of procedural documentation (e.g. an information memorandum together with a model of financial forecasts);
- • advice on the accounting effects of transactions;
In the field of Fusion and Acquisition Advice, we propose among other things:
- • Management of restructuring processes within capital groups in financial and accounting areas (including merger or liquidation processes)
- • Surveys and reviews of Due Diligence accompanying merger and acquisition transactions
- • (Mergers & Acquisitions) and related transactions
- • Elimination reports (opening and closing)