The JASILL team has the skills and the resources to manage complex projects in all areas related to the financial, statutory or internal audit an is among the premier choices of medium and large companies, as well as of entrepreneurs active in various sectors. We are recognized on the market for our know-how and added value we offer in all the areas of audit.
Audit of the Financial Statements
We perform the audit for clients whose financial statements must be audited according to the fiscal legislation, upon the shareholders’ request, in accordance with the International Auditing Standards accepted by the Romanian Chamber of Financial Auditors (CAFR) and ASPAAS; we perform the comparative analysis of the companies’ main financial indicators; we identify the most appropriate accounting policies and evaluate the internal audit.
Transposition of the Financial Statements into IFRS and US-GAAP
In the context where a growing number of companies are required to comply with the IFRS reporting standards, several steps must be taken for the transition from the IAS standards to the IFRS ones. We support companies that have prepared their financial statements according to local rules in identifying the accounting differences and transposing them to IFRS, developing new accounting policies and procedures, updating the accounting monographs.
Several regulatory and supervisory bodies may require specific additional reports on the audit or compliance of the companies’ mandatory reporting. We support clients in preparing these specific reports, which complement and/or detail the financial statements and may also be requested by shareholders or management, in order to better analyse and substantiate their strategic decision-making.
Internal Audit and Control
The JASILL specialists are acknowledged by clients for the objectivity and clarity of the internal audits they perform. These are effective independent assessments of risk management, control and management processes.
Our internal audit team aims to verify that the activity of an organization respects its policies, programs and management, according to the legal provisions; to assess how appropriate are the financial and non-financial controls required by the company’s management, if they are applied and to what extent, in order to increase the organizational efficiency. We also specialize in evaluating the financial and non-financial information provided to the company’s management, to have information on the organizational realities and protect the balance sheet and off-balance sheet assets – and thus identify methods to prevent fraud and loss of any kind.
Internal Control and Fraud Prevention
The internal control refers to any measure taken by the management in order to optimally manage the organizational risks and to facilitate the achievement of its business objectives. The internal control observes that these objectives are met, that they integrate all control and financial systems implemented by the managers, so that the business is compliant and smoothly run, its assets are protected and the information is accurate and exhaustive. To effectively prevent fraud, our consultants analyse all the available information and possible scenarios, the company’s activity and the risks of fraud at all levels.
Auditing the IT&C Systems
By auditing the IT&C systems, we ensure that the information system works correctly and consequently guarantees the efficient operation of the applications’ controls. The IT&C audit usually includes a control over the acquisition, development and maintenance of the application systems, check-ups on software changes, as well as controls on system software that restrict the access of unauthorized persons to programs and data. Moreover, in the context of the evolving technologies and their extensive use in all company operations, the information systems become increasingly vulnerable to the risks of cybercrime. Consequently, companies must organize an optimal and efficient system of cyber security, in order to ensure its digital autonomy.