Audit of financial statements

An audit is an examination of accounting data and the financial statements of a business entity, performed by an auditor in order to form an independent opinion about the fairness of the information presented in all material respects, and its compliance with the requirements of Ukrainian legislation, accounting principles (standards) or other framework (internal regulations of a business entity) according to user requirements.

An audit of financial statements involves a reasonable degree of certainty expressed by an auditor following the examination results.
Based on the examination results an opinion is provided in a positive form, containing the thesis: “financial statements present a fair view of the information they contained and, in all material respects, complies with the conceptual framework”.