Audit & assurance
Our team provides comprehensive audit services in terms of fulfilling the company's legal obligations. We also ensure professional external audits for EU projects. However, simply performing the audit and delivering a raw opinion is not something we want to limit ourselves to. Our clients are always provided with detailed information as to make sure that data coming from accountants honestly reflects the actual situation of their business.
23 December 2019
Another year is coming to an end, so for most companies and accounting departments the time of hard work and preparations to close the books has begun. On the basis of information received from our clients and inquiries addressed to us during the training courses conducted for financial and accounting departments, we have gathered a group of issues which, during the period of preparation of financial statements, are of constant interest and do not lose anything of their relevance. We have already discussed most of them for you on our blog; these are issues related to, among others: leasing, including IFRS 16 Leasing, investments in real estate IAS 40, the revaulation model according to IAS 16 or revenue recognition according to IFRS 15. In the following sequences we will present issues related to the creation and presentation of provisions (IAS 37) and the issue of residual value and depreciation according to IAS 16. Nevertheless, the greatest emphasis will be placed on the analysis of financial instruments.
25 November 2019
Reaching out to you through different communication channels, we have recently extensively discussed the specific nature of the work of an auditor and the issues connected with their (proper) selection. We would also like to remind you how a company may benefit from being audited. We have already mentioned that it is a good thing if an auditor is your business partner for years, but now we want to show you what this is like in practice: what the benefits an auditor may provide to the audited company are and what the client is actually paying for.
28 October 2019
What are the most common errors I come cross in financial statements? How do they distort the representation of economic events, thus producing unreliable data that is later presented to owners and certain institutions? Hence, what needs to be focused on in order to avoid these errors, close the financial year properly and save yourself the stress involved with an auditor’s visit? I encourage you to read my article as I go on to discuss selected aspects.
18 October 2019
In this and in the next post, I am going to help you all realise and appreciate how immense the impact of managerial decisions is on the quality of company’s reporting. I would like to point out that if the company’s management board (and supervisory bodies) are not aware of the essence of accounting, do not understand the necessity of preparing financial statements and do not recognise the goal behind internal and external audit, any financial data processed by financial and accounting services are subject to material error, or at least fail to represent all economic events fairly and clearly.
2 October 2019
We have already written a lot, both here and in national journals, about the importance of audit services, their meaning for businesses, the cooperation of management boards or supervisory bodies with auditors, and the qualities of a good auditor. Now it is time to say something about how this auditor (a statutory auditor or an audit firm) should be chosen.
18 July 2019
On 9-12 July this year, members of our Audit Department, namely Marcin KAWKA (Audit Partner), Michał DREAS (Audit Manager) and Aleksandra SYSIAK (Junior Audit Manager), participated in the “Train The Trainer” training held in the RSM France office in Paris. It was another meeting under a global training project of the RSM network that was actively attended by RSM Poland professionals.
15 July 2019
The Cash flow statement is an element of financial statements. However, not all entities applying the provisions of the Accounting Act are obliged to prepare a cash flow statement.
12 April 2019
We are happy to announce that RSM Poland took 11th place in terms of revenues from audit in the 19th Rzeczypospolita Auditor Ranking, which means it has moved up 4 positions.
14 March 2019
IFRS 15 includes detailed principles to be applied in certain areas of industry-specific accounting, and we have already presented some of them in our recent posts. It should be recalled that the additional guidance included in Appendix B to the standard is obligatory. In this article, we are going to focus on a general discussion of some of these issues.
25 February 2019
We have recently written a lot about recognising revenue from construction and advisory services; today it is time for the next industry; this time, we are going to analyse the sale of non-material products. How should the revenue from the sale of the license and the service of software installation be recognised in the books?