Auditing

We offer all audit-related auditing services. Our sworn auditors with long-term experience assist entities with auditing annual accounts and reviewing other financial statements. We perform accounting reviews, audits for funds, financial and legal analyses of entities as well as packaging audits.

Auditing annual accounts

In a quickly developing and changing business environment, a competent independent audit on the financial position of an entity and the correctness of related financial statements offers a true and fair assessment. Our audit is based on assessing a customer’s business activities and the related risks. An audit shall result in a report that includes an assessment on whether the annual accounts give a true and fair view of the financial position, financial performance and cash flows of the entity. HLB Expertus KLF implements uniform international audit methodologies in compliance with the International Standards on Auditing. In our everyday activities, we use the auditing software Caseware that has been updated in compliance with the methodologies implemented in HLB International.

Reviewing annual accounts and other financial statements

A review is smaller than an audit in terms of scope and volume and it is mainly limited to management interviews and analyses, which is why a review cannot provide the customer the same assurance as an audit. Reviews are in compliance with relevant international standards and provide limited assurance.

Packaging audit

The object of a packaging audit is to assess the correctness of data submitted to the packaging register in compliance with the Estonian Packaging Act. Packaging audits are in compliance with the international assurance engagements standard ISAE 3000 “Assurance engagements other than audits or reviews of historical financial information” and it is a limited assurance engagement.

Accounting review

Accounting review services form a part of internal control. The purpose, scope and control procedures of a review shall be set out by the person, body or board that assigned the review or by the provider of the review. A review shall result in compiling a written review conclusion.

Auditing projects financed from European Union and other funds and resources

The use of resources from European Union or other support funds usually requires an audit and we shall carry it out it in compliance with the guidelines for auditing the specific project, and we shall submit the required auditor’s report based on our work.

Agreed-upon procedures

The management or owners of an entity may need to verify some accounting entries, parts of reports or data regarding an accounting area. In this case, an agreement shall be made with an auditor upon the exact scope of work and as a result of the review, an auditor shall submit the relevant report including findings and recommendations.

Procedures proceeding from the provisions set out in the Commercial Code

Such procedures include special audits, verification of non-monetary contribution valuations, opinions on the closing balances of a liquidated entity and its distribution arrangements, and opinions on merger and division contracts.

Due diligence

Due diligence is a thorough operational, financial and legal analysis of an entity. The services shall result in a detailed report on the aforementioned areas.