We have experience with serving various types of clients, for example, subsidiaries of multinational corporations, medium sized businesses, private equity investors, and Russian investors aspiring to international standards. We have experience in various industry sectors, manufacturing, retail, agriculture, FMCG, finance and investments, etc.
The primary role of the external auditor is to express an opinion on whether the financial statements are free of material misstatements. But we want Awara to be perceived as delivering more than that. Therefore we take a proactive approach to our audit assignments
Because we are proactive we stress the need of the auditor to assess the level of risk management and internal controls and more than that, the auditor has to direct attention to developments that might impact the business in the future. The auditor has to give his input in spotting trends and their impact. On our markets it is very important to address the issue of fraud detection as well. We know the business practices and the methods in use around here, so we know what to draw attention to.
Good communication is the single most important factor in delivering a proactive service. The business environment has become more complex, riskier and faster, which increases the risk of miscommunication. And all these factors receive an even more important role on the Russian and Ukrainian markets we serve. Below we tell more about Awara's stress on proper communication.
Proper presentation of audit findings is also a question of good communication. It seems that all over the world the audit reports are getting thicker and thicker, it is as if the auditor were transferring the burden of getting to grips with the audit findings to the recipient. We have made a concentrated effort to buck this trend by investing in working methods which result in clear and concise reports. We bring up the issues that matter and help the client make sense of them. Anybody with experience from the Russian market will appreciate how our standards differ from the prevailing practice of presenting thick reports that include exhaustive lists of subjects - not just the main issues but everything - that have received the auditor's attention without any attempt to structure the reports in accordance with relevance and materiality of the issues.
Often an engagement starts with the auditor being hired to implement the necessary controls. As an auditor with valuable experience of Russian risk management and all the checks and balances that a solid internal control system requires we can help companies to extract more benefit from their compliance efforts. We want to go further than that, beyond internal controls we want to make an investment in incorporating our knowledge and experience into the company's operating procedures.
Here is what else we can do for you:
We also offer these compliance services and audits of compliance systems:
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