(032) 295-76-09 [email protected] Lviv, Dzherelna str., 38

Audit and related services

Audit company “Trans-Audyt” provides a wide range of audit and related services, including:

1. Audit and review of financial statements (including consolidated), prepared according to:

  • International Financial Reporting Standards (IFRS);
  • Regulations (Standards) of accounting in Ukraine.

2. Audit of special purpose, namely:

  • Audit of components of financial statements (separate reporting forms, articles (receivables, inventories, etc.), operations (accrual of provisions, etc.));
  • Checking of the compliance with contractual and treaty obligations;
  • Audit of financial statements prepared according to the conceptual framework for special purposes.

3. Performance of agreed procedures:

  • Assessment of accounting and tax accounting;
  • Checking of the accounting correctness;
  • Checking of compliance with the tax legislation;
  • Assessment of company documentation;
  • Analysis of financial and economic activity;
  • Assessment (checking) the efficiency (compliance) of the internal control system;
  • Development and optimization of accounting policy, statement of accounting.

4. Preparation of financial information:

  • Transformation of financial statements prepared according to National Accounting Standards into financial statements under International Financial Reporting Standards (IFRS);
  • Consolidation of financial statements.

Cost of audit services

The cost of services is determined in accordance with the acts on the provision of audit services, the actual time spent for the audit or the provision of related services to the Customer. Next, you can review the cost per person-hour and determine the minimum cost of auditing yourself.

The cost of auditing services depends on many factors such as:

  • Type of audit;
  • The purpose of the audit;
  • Type of activity of the enterprise;
  • Enterprise tax system;
  • Checking period;
  • Number of operations per month;
  • Presence of branches and subdivisions;
  • The level of accounting automation;
  • Other factors.

Given the above factors, the duration of the audit services is determined.

Also, note that the cost of an audit depends on the number of man-days spent on such an audit. The cost of one person-hour is 150 UAH.

When conducting inspections outside the city of Lviv, the Customer additionally reimburses the expenses for the business trip of the audit firm employees (travel, accommodation, daily allowances).

The Audit Chamber of Ukraine has set a minimum amount of time sufficient for the quality performance of the statutory audit task, depending on the scope of the statutory audit client’s activity.

The scope of the client’s audit activityMinimum amount of time (in man-hours)
Up to 5 mln. UAH40
From 5 mln. UAH. up to 10 mln. UAH.60
From 10 mln. UAH. up to 50 mln. UAH.80
From 50 mln. UAH. up to 100 mln. UAH.120
From 100 mln. UAH. up to 500 mln. UAH.250
From 500 mln. UAH. up to 1000 mln. UAH.400
From 1000 mln. UAH.600

The volume of an audit client’s activity is calculated as the sum of his total assets (balance sheet currency), net income from sales of products (goods, works, services), other operating income and other income. The minimum time limits given take into account the time spent by all members of the audit team on the assignment and those responsible for reviewing the quality assurance of the assignment on the statutory audit.

An example of the cost of auditing services

Balance sheet currency (at the balance sheet date) –  7,000,000. UAH
Total income – 2 500 000 UAH.
The sum – 9 500 000 UAH.

Minimum cost of services: 9 000 UAH. (60 people / hour X 150 UAH)

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