Legal and Accounting Services Audit
- Statutory auditing of annual and consolidated financial statement
- Periodical review of the book-keeping activity
- Limited audit in accordance with agreed procedures
- Opinions / assessments on the accuracy of financial transactions and feasibility studies
The statutory auditing is provided by Italian law in force (Legislative Decree 39/2010) to ascertain the veracity and accuracy of accounting records and of annual or consolidated financial statements of companies in order to protect the shareholders and third parties with regard to 'reliability of financial statements.
The changes introduced by that legislation have made the statutory audit difficult task and it requires highly professional expertise and organizational structure.
The statutory audit should be conducted in accordance with auditing standards (at the moment those held by the National Council of Certified Accountants, in the future will be those set by the European Commission).
Accounting Organization Services
- Study and evaluation of the internal control and reporting system;
- Planning of a reporting system for data collection used for the preparation of consolidated financial statements
- Assistance in solving technical and accounting issues;
- Assistance in preparation of consolidated financial statements and business-plan;
- Evaluation and planning of: accounting and management procedures, administrative control systems;
- Analysis and evaluation of the accounting standards used (including impact analysis of transition to IAS / IFRS).
Transaction support
The audit activity is often led in the context of acquisitions, divestitures, management buy outs, management buy-in, corporate restructuring and operations of leverage or debt.
Within this context financial forecasts are developed and pro forma financial statements are prepared, including agreements, taking in consideration the risks concerning the business.
Due Diligence
Due Diligence can be defined as an organized activity concerning the gathering and verification of financial, economic, managerial, strategic, and fiscal information in respect of a target company.
The objectives of due diligence can be manifold: examining the potential target for a merger, acquisition or similar corporate finance transaction such as participation acquisitions, or assessing the feasibility of special operations (such as mergers or splits), or considering joining a stock market listing, or to increase the capital of the company.
Agreed-upon procedures
Agreed upon procedures are those tasks related to the conduct of limited "audit procedures pre-agreed" between the auditor and the client company.
The client company can ask for checks on specific financial statement item or assets of the company or its system of internal control.
Although these are limited procedures, the objective is to obtain the necessary information to focus attention on relevant issues. At the end of the agreed audit, the auditing firm points out, in a report normally intended exclusively for the client company, the checks and the results highlighting any irregularities, findings or recommendations.