AUDIT

Transparent, informative and accurate financial reporting is the core of modern economics and the key in achieving maximum asset efficiency and high-quality liability management. Audit plays an important role in this process by providing an objective and independent opinion on reliability of financial information. With professional and independent approach tailored to your specific circumstances, we provide audit services which, besides control effect, brings added value to the entrepreneur

Some of the auditing services we can offer

  1. Financial statements audits prepared in accordance with Croatian or International Accounting Standards.
  2. Audit of projects financed from EU funds According to Specific Terms of the EU Structural Funds (2014 - 2020), for most projects, upon completion of the project, a mandatory audit needs to be carried out to establish the correctness of implementation and bookkeeping of the project’s costs. We have extensive experience in implementing this type of audit, and we design the dynamics and scope of our business so that it works timely and preventively as support for entrepreneurs to fulfil the assumed commitments. 
  3. Consolidated financial statements audit 
  4. Audit of status changes such as: increase or decrease in share capital, merger or acquisition audits, establishment audits, division audits, etc.
  5. Insight An insight is the conduct of analytical procedures that allow the auditor to express a limited assurance that the financial statements need not change significantly in order to comply with the applicable financial reporting framework.
  6. Forensic audit The fundamental objective of forensic audit is to facilitate the adoption of strategies for fraud prevention, followed by accurate and timely detection of frauds and successful investigation of significant cases of frauds. Our extensive experience and expertise in fraud detection provides our clients with effective and reliable support in often stressful and demanding situations when doubts arise regarding illegal activities in business entity’s operations.

Industries of our clients

  • Automotive industry
  • Production
  • Construction and Real Estate
  • IT services
  • Utilities and other services
  • Tourism
  • Trade
  • Agriculture
  • Public sector

Audit methodology

  • Client's needs and expectations Auditing procedures are aimed at establishing precise business management requirements and business needs of companies by collecting sufficient audit records that meet auditing standards and providing support to our audit opinion. Management, with the help of insights generated through auditing procedures, can provide additional benefits for the company's operations. To achieve this, client’s needs are subject to detailed discussions during the audit planning phase and through the entire auditing process. 
  • Audit approach Our international standardized audit approach, which is in line with the International Standards on Auditing and General Auditing Requirements, is designed to address the specificities and risks of business environment as well as the efficiency of the client's business processes when designing audit procedures for each client.
  • Audit strategy In the implementation of audit, the time and organizational framework is adapted to the circumstances and needs of our clients, and the whole process consists of the following essential units:
    • Identification of risk areas and definition of key business and auditing issues accordingly,
    • Implementation of the major part of audit procedures before the balance sheet date, and, accordingly, timely communication regarding any identified correction needs in order to enable their prompt implementation,
  • Audit scope The scope of the audit is, above all, determined by a risk assessment carried out for each individual audit area. By analysing key business processes and internal control systems we determine the degree of risk and the possibility of material misstatement in individual positions or financial transactions. We focus our audit on materially significant positions by applying an effective combination of audit procedures.
  • Reporting Our reporting is oriented to customer needs and therefore, in addition to preparing standard audit opinions, we also inform the appropriate management levels of any early weaknesses noted in the Early Warning Report and, according to the needs, with our Letter to the Management, we inform the company’s Management and Supervisory Board about the possibilities in improving the internal control system, organisation and cost management.

Common benefits of auditing

  • Increased credibility and precision of the data presented to the stakeholders
  • It serves as an assurance for stakeholders who are not involved in day-to-day business processes, that business is consistent with the information provided to them. 
  • This process reduces the possibility of fraud and affects the quality of bookkeeping.

What added values can you expect from audits performed by Kulić i Sperk

  • Analysed financial information of your company that you understand better
  • Identified areas for improvement in your company
  • Improved internal control processes

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