Internal audit is an independent and objective assurance and consulting activity, designed to add value and improve the operations of an organization. Helps the organization achieve its objectives through a systematic and disciplined approach to evaluating and improving risk management, control and governance processes.
The final objective is to issue a report on internal control. For each of the audits, there are three main types of approaches:
<ul>
<li>Traditional: determination of a specific series of tests with the objective of obtaining evidence on the assessment of the area or process subject to audit.</li>
<li>Risks: for a given process, the most significant risks, associated controls and audit tests must be identified to validate the effectiveness of the controls.</li>
<li>Hybrid/mixed: combination of traditional audit and risk-based audit</li>
</ul>
After the review carried out, the internal auditor issues the corresponding recommendations and points for improvement, which must be monitored.
Our experience in this area allows us to offer a quality internal audit service to our clients.

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Internal Audit

We carry out company Valuation Reports with the objective of determining the real value of a company.
These types of reports are usually requested by companies that consider external development or growth through the purchase of other companies, acquisition of business units or by merging with other companies. On other occasions, non-monetary contributions from partners in a company also require a valuation report by an independent expert.
When valuing a company, different valuation models are used, choosing the one that best reflects the activity and reality of the company. Commonly used methods include discounted cash flows (flow projections, calculation of the WACC “weighted average cost of capital”, etc.), the book value of equity, PER of similar companies, etc.
We also carry out valuations for other tax, legal and internal business strategy reasons.

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Special reports and/or assessments

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.

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Annual Account Audit Services for companies

In addition to offering the annual accounts audit service, we also offer services corresponding to limited reviews of Annual Accounts or financial statements. 
This service is useful for those companies that do not require the specificities of a full audit, although they need to validate the sufficiency and veracity of the information in the annual accounts and/or financial statements. 
Unlike an audit, the auditor does not express a global opinion on the financial situation of the annual accounts; in these cases, the scope of the reviews and procedures to be carried out is agreed with the client. 
This service is commonly contracted on a recurring basis, although it can be also interesting punctually in the event of possible strategic corporate situations (purchase/sale of a company, change of directors, etc.).

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