Audit of Financial Statements
Our audit service is made up of highly qualified professionals with over 30 years of recognised experience.
Audit
AUDIT OF FINANCIAL STATEMENTS
Fiability, rigor and prestige
In our audits, we are characterized for contributing with solutions and recommendations of improvement to the problems that we can detect, and always, with a practice and constructive focusing.
We have periodic meetings with the direction to communicate the most significant aspects result from our work, beside on keeping informed of the advancement and development of the audit works. Likewise, we are at disposal of the company during all the year for questions or to contrast technical opinions.
In Spain, the Audit of annual accounts, will be mandatory when during two consecutive years at the closing date, exceeds two of the following limits:
- Total assets exceeds 2.850 thousands euros.
- Revenue exceeds 5.700 thousands euros.
- Average number of employees exceeds 50.
VOLUNTARY AUDIT
Practical and constructive approach
Voluntary audit of the annual accounts would be the one that has no origin from a legal obligation, although is realized by the same criteria that the compulsory audits.
We detail below the main advantages involved on the realization of an audit of annual accounts:
- Grant to the audited company a better financial reliability and confidence in front of third parties (administrators, shareholders, Banks, suppliers, customers…).
- It helps to detect weaknesses of internal control and to implement circuits to solve or reduce them at maximum, removing possible problems, to reduce and prevent fraud.
- Can contribute to the obtainment of credits and financial lines.
- Gives additional guarantees to the Direction of the Company and the administration organ, that the accounting controls and processes are effective.
- It helps to detect accounting mistakes.
- Possibility of contrasting in case of doubts or questions.
- The auditor, maintains periodically informed their customers with the accounting, legal and fiscal news that can affect their audit.
AUDIT OF START UP COMPANIES
Vir Audit is a leader on startups audit.
We work with the majority of the capital venture backgrounds and seed capital in the Spanish market, and we have a great prestige for their part and recognition of the market, as leaders in audit of startups.
We know perfectly all the startups problematic, their idiosyncrasy and particular aspects and we are specialized on identify and solve the main accounting and financial problems.
We bring the best of the big multinational firms, (experience, specialization, rigor and prestige) with the combination of the best of the medium size firms (proximity, flexibility, close treatment, maintaining of the work teams..). Likewise, our fees are fair and competitive, and guarantees the best relation cost/service.
PUBLIC SECTOR AUDIT
Years of experience guarantee us
VIR AUDIT has own methodologies and procedures which are adapted to special features of Public Sector management. Our professional career path guarantees independence and quality of our services.
Public Sector Audit is the essential instrument to verify if the internal procedures of economic and financial area of Public Sector work correctly. Its aim is check the situation and the proper economic and financial operation of local entities and other public organizations regardless of its legal form, to ensure that these organizations are managed under legislation and good financial management principles. In addition, Public Sector Audit is also focus on verify the efficiency and effectiveness.
We believe that transparency in Public Sector is indicative of the Administration Quality and the citizen commitment. The realization of audit procedures contributes to transparency of information provided to its users and to achieve better management efficiency.
Our projects are carried out by teams, which have Sector Public Training, in particular, a Master’s degree course in Public Sector Audits and other training activities focus on economic, legal and organizational aspects of Public Sector.
We offer the following services in this area:
- Financial audit and/or regularity audit.
- Operational audit
- Compliance audit
- Legal audit
We also have experience auditing entities which are dependent on public organizations (for example, corporate entities, joint ventures, etc). These companies are under private sector law, but are also subjected to Sector Public regulations, in a lowest degree that Public Entities.
Audit on public funds and subsidies
We carry out subsidies Audit Procedures
At VIR AUDIT we have experience and specialized teams in this review work both in the state public sphere and in the European Union, having carried out a large number of reviews of R&D Projects funded by the CDTI, the Ministry of Science and Innovation. , for the European Union Technology Framework Project and other institutions, etc.
- Audit of programs financed by ERDF funding
- Audit of R&D projects
- Audit of CDTI’s projects
- Audit of ENISA’s loans
- Audit of Ministerio de Economía y Competitividad (MINECO) Subsidies.
- Audit of SOC Subsidies
- Audit of Cenit programs.
- Audit of Research European programs.
- Audit of Fomento de la cooperación científica internacional (FCCI) Subsidies.
- Audit of Instituto de Cinematografía y Artes audiovisuales (ICAA) Subsidies.
- Audit of ICIC (Instituto de Catalán de Industrias Culturales) Subsidies.
- Audit of Programa InnoEmpresa Subsidies
- Audit of Innplanta Project expenses.
- Audit of RETOS Project expenses.
- Audit of H2020 Program
AUDIT SERVICES FOR STATUTORY REQUIREMENTS
A wide variety of services
The core services that we offer are:
- Capital increases by debt conversion
- Capital increases against reserves
- Determination of fair value of shares
- Capital reductions to offset losses
- Reports on convertible bond issues
- Independent expert reports on the valuation of non-cash contributions
- Determination of fair value of shares and participating interests in relation to statutory restrictions on their transferability.
- Valuation of unquoted shares and participating interests due to change of registered office and change of object
- Merger projects
- Debt refinancing
- Required by the CNMV and the Bank of Spain
