A tax audit is a comprehensive examination of a company's financial statements to ensure compliance with tax legislation. This procedure is an essential tool for ensuring financial transparency and legality of a company's activities. Conducting a tax audit supports your business on the path to financial reliability.
Increase the accuracy of reporting: Professional auditors verify all tax liabilities and ensure their correct calculation, reducing the risk of errors and non-compliance with legislation.
Optimize tax payments: Auditors help identify opportunities to reduce tax expenses and optimize tax strategies within the framework of current legislation.
Minimize risks: A properly conducted tax audit reduces the likelihood of financial fines and sanctions from tax authorities.
Ordering a tax audit is a valuable tool for the accounting department to enhance professional standards and increase accountability. It also provides support in documenting and systematizing tax reporting, significantly simplifying its review by external auditors and tax authorities.
Underestimating the importance of a tax audit can lead to the following risks:
Avoiding errors in reporting: Non-compliance with tax regulations can result in financial penalties and even criminal liability.
Missing out on tax benefits: Without a professional audit, a company may miss opportunities to optimize tax payments and reduce financial burdens.
The tax audit process typically consists of the following stages:
Preparatory stage: Defining the audit's goals and objectives, gathering necessary documentation and information.
Planning: Developing the audit strategy, determining work procedures, and setting timelines.
Execution: Conducting a direct review of data, analyzing financial operations, and preparing reports.
Reporting: Preparing and presenting a report with audit findings, including identified errors, recommendations for improvement, and a conclusion on compliance with tax legislation.
Follow-up support: Providing support and consulting on issues identified during the audit, as well as assessing the implementation of recommendations.
FINNOVA Consulting has extensive experience in conducting tax audits and offers highly qualified services tailored to the specific needs of clients.
Deep understanding of legislation: Our experts are always aware of the latest changes in tax legislation and are ready to offer the most relevant solutions to clients.
Individual approach: We develop audit strategies considering the specific characteristics and needs of each client, ensuring maximum efficiency and real results.
Thorough analysis and recommendations: Our team not only identifies potential risks and errors but also offers specific recommendations for their resolution and optimization of tax payments.
By choosing FINNOVA Consulting for your tax audit, you can be confident in the reliability and professionalism of our services. We strive for long-term partnership and the successful development of your business.
To discuss your needs in detail and offer the best solutions, please contact us.