Financial Audit

Financial Audit


The need to have the most truthful and reliable financial information possible has led to audits playing an increasingly important role in companies.

When understood as a service that is tailored to the customer, an audit can generate added value for the company , expressed in terms of the exchange of points of view, recommendations on important aspects of its activity, its internal control and its organisation. Our team of auditors registered with the ROAC (Spanish register of auditors) and the ICAC (Spanish register of accountants and auditors) has specialised in the preparation of financial statement reports for SMEs.

The goal is for our clients to have a clear picture of their corporate strategy, their business processes and their financial reports. For this reason, we adapt to each client's situation, performing the work in two phases - interim and final - and reducing the delivery deadlines.

The mandatory sfinancial statement audit report is issued to entities that exceed the compulsory audit limits for two consecutive years. The second year the entity exceeds the limits is the year the entity will be obliged to undergo an audit. These limits are set out below:

                     >The total assets exceed 2,850,000 euros.
                     >The revenue exceeds 5,700,000 euros.
                     >The average number of employees exceeds 50.

At ABAUDING, we believe that a financial statement audit should not be considered a simple legal process, but a process of great value to the company.

calculadora finanzas

On the other hand, even if the aforementioned parameters are not exceeded, an entity may issue audited financial statements voluntarily. This may be a means of adding value to its financial reporting, or it may be at the request of its minority shareholders through a request being filed with the mercantile registrar responsible for appointing financial statement auditors. For groups of companies that are required to prepare consolidated financial statements, just as in the case of audit reports for compulsory financial statement audits, the limits must be exceeded for two consecutive years. For such cases, the limits established are as follows:

> The total assets exceed 2,850,000 euros.
> The revenue exceeds 5,700,000 euros.
> The average number of employees exceeds 50.

For all these tasks, we assign the team that best knows the sector in which the company operates, led by a partner and supported by supervisors who complement the fieldwork. The staff turnover is very low, which facilitates communication with the client.