Our audit service is a process conducted by professionals specializing in accounting and finance to examine a company’s financial statements. The financial audit is performed in accordance with International Standards on Auditing (ISA) and other technical and ethical standards and guidelines issued by the Portuguese Institute of Certified Public Accountants.
During the audit process, the auditor reviews financial records, analyzes transactions, verifies accounting balances, and conducts a general economic and financial analysis of the company. Upon completion of these reviews, the auditor issues an Audit Report in which he or she expresses an opinion on the financial statements under review.
The audit service is an important tool for ensuring the reliability of the financial information presented by the company and for increasing the confidence of investors and stakeholders. In addition, the financial audit can also help identify opportunities for improvement in the company’s internal processes and controls.
The following are subject to a statutory audit:
- All public limited companies (Article 262 of the Commercial Companies Code);
- All holding companies (SGPS) (Article 10 of Decree-Law No. 318/94, of December 24);
- Limited liability companies without a supervisory board that, for two consecutive years, exceed two of the following three thresholds (Article 262 of the Commercial Companies Code):
- a) Balance sheet total: 1,500,000 euros;
- b) Total net sales and other income: 3,000,000 euros;
- c) Average number of employees during the fiscal year: 50.
Advantages
Greater credibility
Identification of Errors and Fraud
Optimization of internal processes
Guarantee of compliance with legal regulations
Promotes opportunities for improvement