An audit is a statutory inspection of companies’, societies’ and foundations’ financial period accounting, financial statements, annual reports and management.
A professional audit presents to the management and owners correct information about the financial situation of the organisation and ensures that the included reports are correct. This is of importance, because the interest groups and various institutions have to rely on the correctness of the audit information.
The audit is performed by an auditor as meant in the Auditing Act. According to the Finnish Auditing Act that entered into force in the beginning of 2016, the professional titles HT, KHT and JHT of the Finnish Authorised Public Accountants (APA) are protected and they may only be used by the persons, who have the said qualifications and who have been registered by the Finnish Patent and Registration Office.)
An audit must be performed according to sound auditing principles. This requirement must be fulfilled for each part of the audit. The parts are the planning, execution and reporting of the audit. The sound auditing principles in a statutory audit require that the international auditing standards are followed. In addition to this, a profound knowledge of the laws on accounting, corporations and taxation is required of the accountants. The knowledge of the laws on securities markets and the regulations concerning corporate governance are of great importance in the audits of the companies being subject to public trading.
Our procedures are based on an understanding of our client’s business and on taking into account the business-related risks. We possess comprehensive knowhow and experience in auditing big international listed companies, small and medium-sized companies, associations and foundations as well as the public sector.
Partner, Assurance Leader
Tel: +358 (0)20 787 7833