Audit and related services

Moore Stephens Vilnius specialises in audits of private capital entities, national and municipality entities, also including the audits of listed entities. Along with other members of Moore Stephens International, we provide audit services to entities operating in different business areas. Our team has gained most of the experience working with clients in various production fields, wholesale, food manufacturing, energetics, transport and municipal economy.

We believe in personal approach to the client when providing any services or advice. Audit services are no exception. This kind of attitude allows us to concentrate on the crucial business risks you are dealing with, to control them and evaluate their influence on the financial statements.

We believe that by providing professional advice, we can not only help you manage your business, but also develop it. We emphasize the importance of responsible attitude towards the procedures of business management and development – they have to correspond to the national and international accounting standards since it is the only way to avoid the unexpected outcome when planning the near and further future.

We also trust the success of provided audit services depends, to the great extent, on the good relationship between our team and the client. Professional relationship helps us plan the course of work thoroughly and apply the tailor-made solutions. Our team guarantees the highest quality and continuity of services, as well as a safe and controllable environment during the audit and after it.    

We provide these audit and related services:

Audit of the financial statements. We conduct the audit in accordance with International and National Standards on Auditing and existing practice. International and National Standards on Auditing obligate us to plan the audit in a way, which would allow us to conduct it only after obtaining sufficient and reasonable evidence on the absence of material misstatements in the financial statements.  In the course of audit we examine the internal control system of the client, decide upon the proper data selection system and therefore obtain sufficient evidence to present the fair auditor’s opinion. We also evaluate the accounting policies used by the client, significant accounting estimates by the management and overall presentation of financial statements. The important part of the audit is the reference letter to the management, in which we present the weaknesses of accounting and management procedures together with suggestions of eliminating them. 

Review of the financial statements. In some cases full audit of the financial statements is not necessary; therefore we can also offer the review of the financial statements. It is easier to conduct and therefore lower priced. The fundamental difference between the audit and review is that we do not present our opinion on the financial statements when we perform the review, only the review report. However, the reviewed financial statements are still more reliable and therefore more welcomed by the banks, shareholders and other related parties. 

Agreed upon procedures. The goal of the agreed upon procedures is to perform the procedures of audit nature, which are agreed upon with the client in advance, and report back the observations. These procedures are very flexible due to the fact that only particularly chosen procedures related to the financial information shall be performed, e.g. review of company’s inventory control, review of the expenditure validity.