In general terms, audit can be defined as the examination of financial statements carried out by competent and independent professionals, through the application of certain procedures subject to generally accepted auditing standards. The objective is to express an opinion on the annual accounts, verifying the reasonableness, true and fair view of the financial statements, the assets and financial situation, the results of its operations and the resources obtained and applied, in accordance with generally accepted accounting principles and standards.
External auditors must be independent, integral, objective, act with professional diligence and responsibility and maintain professional secrecy, among other aspects.
The audit exercise must be carried out by a person who has the legal status of auditor.
The audit review must combine both compliance tests (validation of internal control) and substantive tests (validation of the integrity, existence, accuracy, valuation, ownership and presentation of the balances and information contained in the annual accounts).
Andorran regulations require audits of annual accounts for those companies that meet certain requirements (size, consolidated groups, financial services, etc.).
Additionally, the voluntary audit of annual accounts is considered a good practice with the aim of reinforcing the integrity and accuracy of financial reporting, offering comfort to shareholders when approving the annual accounts prepared by the directors.
Our experience in auditing allows us to provide a high-quality annual accounts audit service, always maintaining our principles of professionalism, independence and objectivity.