Discover why it is key to the financial health of your company
A financial audit is an essential tool for assessing the financial situation of a company and ensuring that its records comply with current accounting and tax regulations. This process not only provides transparency, but also strengthens the confidence of investors, financial institutions, and tax authorities. Below, we explain in detail what an accounting audit includes, its importance for your business, and the key related services you can find in Peru with experts such as VAG Global.
What is a financial audit?
A financial audit is a systematic review of a company’s financial statements to verify that they reasonably reflect its financial position, results, and cash flows. This examination is performed by an independent external auditor who issues a professional opinion on whether the financial statements comply with International Financial Reporting Standards (IFRS).
What does a financial audit include?
An audit of this type is usually divided into several phases and covers different aspects of a company’s financial operations. The main components include:
- Internal control assessment
Before reviewing the numbers, the auditor analyzes the internal control systems and processes used by the company to manage its resources.
- Review of financial statements
The auditor examines the financial statements in detail: balance sheet, income statement, cash flow, and changes in equity. They verify that there are no errors, omissions, or manipulations.
- Verification of tax compliance
Tax obligations are reviewed to ensure that the company is complying with current tax regulations. This includes a conceptual tax review, which is vital to avoid penalties from SUNAT or other entities.
- Bank reconciliations and account analysis
A reconciliation is performed between internal accounting records and bank account balances, as well as a review of accounts payable, accounts receivable, fixed assets, and inventories.
- Interviews and substantive tests
The auditor may interview key personnel and perform substantive tests to corroborate the accuracy of the recorded transactions.
- Audit report
Once the process is complete, the auditor issues a report with their opinion on the company’s financial situation. This may be a clean opinion, with qualifications or adverse, depending on the result.
Why is a financial audit important?
A well-conducted audit can help detect fraud, accounting errors, liquidity problems, and areas for improvement in internal management. It is also essential if your company plans to attract investors, access financing, or comply with legal or contractual requirements.
Related services offered by VAG Global
If you are looking for accounting and tax advice in Peru, VAG Global is the ideal choice. This firm is recognized for providing:
- The best tax advice
- Financial audit services
- Internal audit services
- Tax audit
Complementary legal and corporate services
An audit does not always remain in the financial realm. Often, findings reveal legal needs that require the intervention of tax attorneys, business lawyers, or even corporate legal services.
VAG Global also offers you:
- Legal advisory services for companies
- Lawyer specializing in business law
- Corporate lawyers for companies
- Corporate legal services for private companies
How much does an accounting and financial audit cost?
The price of a financial audit varies depending on the size of the company, the complexity of its operations, and the quality of its accounting records. At VAG Global, we offer plans tailored to your situation:
- Accounting advisory services at a fair and competitive price
- Monthly accounting and business advisory plans
- Affordable accounting services for private companies
- Monthly advisory and filing services for companies in Peru
Our approach is to provide a comprehensive and transparent service that allows you to make strategic decisions and comply with all your legal and tax obligations.
Conclusion
A financial audit is more than a formal requirement: it is an opportunity to improve business management, strengthen trust with third parties, and ensure tax compliance. In an increasingly regulated and competitive economic environment, having a professional audit and an expert team like VAG Global makes all the difference.
Write to us at: contacto@vag-global.com Or call: +511 436 4612
VAG Global — Accounting, tax, and legal solutions for your company’s growth.
Your best ally in accounting and tax services, tax and accounting advice, and business law in Lima and throughout Peru.