Consolidation of the group accounts and conduct of an international audit
An important stage in conducting audit in accordance with the IAS/IFRS requirements is consolidation of the financial statements. Consolidation allows to identify the sales among the group companies and to eliminate them from the group’s overall net sales – thus obtaining the first approximation of the group’s true scale of operations.
International (IAS/IFRS) audit helps achieve several business objectives including, but not limited to uncovering internal weaknesses in the accounting policies, identifiying and removing inconsistencies in the financial statements, and providing the true picture of the company – hence its value. After an international audit, the owners of the business will have a clear picture of how much the company is worth not only in the eyes of its proprietors but also in the opinion of the outside observers.