© 2009 JPA International Biuro Ekonomiczno - Prawne PROMAR Sp. z o.o. All rights reserved.
created by INFOBAJT Marek Birnbach
The financial statement is inspected through the following stages:
1.
Preliminary audit consists of :
o
inspection of the legal grounds of business activity ;
o
analysis of accounting policy binding in the company ;
o
assessment of internal control and reliability of the books ;
o
supervision of the requesting-and-obtaining confirmation of balances.
2.
Principal audit covers the following :
a).
checking if the assets and liabilities as well as financial result are correct ;
b).
assessment of the economic-financial situation and analyses of the balance-sheet ;
c).
inspection of the financial statement regarding cash flow, changes in the equity capital and the
notes.
3. Synthesis of the audit includes the following :
Development of an opinion as regards reliability and correctness of the financial statement, the financial
statement report presenting audit results and a letter addressed to the Board of Directors, if necessary.
Such studies are developed on the grounds of collected documentation (details regarding the entity and
documents which reflect the process of audit).
Audit of EU projects will, in particular, consist in the following:
o
checking if the beneficiary is implementing the project pursuant to the co-financing agreements and
by-laws in force ;
o
checking if the tender bid procedure was processed in the right way ;
o
verifying the books as far as correctness of recording of expenditures within the implemented project is
concerned ;
o
assessment of the costs qualification, the ways of their evidencing and keeping a separate register ;
o
checking the beneficiary’s motions for payment and the beneficiary’s books as regards the project ;
o
checking if the beneficiary’s reports regarding implementation of the project are reliable ;
o
verifying the methods of monitoring the project (achieving the project objectives) ;
o
verifying the rules of the project promotion ;
o
inspecting the process of passing down the project documentation to the archives.
The audit will be carried out pursuant to :
1.
International Standards of Audit ;
2.
Code of Auditors’ Professional Ethics announced by Krajowa Rada Rewidentów (National Council of Auditors) ;
3.
International internal audits commonly applicable.
On the grounds of the audit carried out we can develop a report and opinion as regards the
correctness of the project implementation and its financing.
