Profile
UAB Audifina was established in Lithuania in 2002 and employs 10 people, two of whom are certified auditors. Our professionals provide audit, review, accounting, tax consulting, mergers and acquisitions, and reorganisation services to constructing, real estate, timber, windows production, publishing and trade companies that are well known in Lithuania. Among our clients are private foreign and local capital companies, public enterprises and non-profit organisations. We closely cooperate with lawyers when providing services and our objective is not only to formally carry out the work agreed upon but also to build additional value for our clients.
Overview
Established in 2002, UAB Audifina is a young and promising company, offering audit, accounting, tax and business management consultancy services.
The firm's employees have gained extensive experience in provision of services to various international and national production, trade and services companies as well as non-profit organizations. The professionals continuously improve their qualification by taking in-service training, participating in various workshops, practical training, studying and directly cooperating with business partners. Audifina's professionals acquired vast experience auditing programs financed by the EU Structural Funds and Educational Exchange Support Foundation.
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Practice Overview
Audit
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Audit of financial statements prepared in accordance with International Accounting Standards (IAS)
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Audit of financial statements prepared in accordance with Lithuanian accounting standards
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Internal audit
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Audit of the EU funded projects
Related Services
Review of Financial Statements
A review comprises inquiry and analytical procedures. While a review involves the application of audit skills and techniques and the gathering of evidence, it does not ordinarily involve an assessment of accounting and internal control systems, tests of records and of responses to inquiries by obtaining corroborating evidence through procedures ordinarily performed during an audit.
In the review report an auditor states whether anything has come to the auditor's attention that causes the auditor to believe that the financial statements are not prepared, in all material respects, in accordance with an identified financial reporting framework.
Agreed-upon Procedures
In an engagement to perform agreed-upon procedures, an auditor is engaged to carry out those procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings. The recipients of the report must form their own conclusions from the report by the auditor. The report is restricted to those parties that have agreed to the procedures to be performed since others, unaware of the reasons for the procedures, may misinterpret the results.
Compilations
In a compilation engagement, the auditor is engaged to use accounting expertise as opposed to auditing expertise to collect, classify and summarize financial information. This ordinarily entails reducing detailed data to a manageable and understandable form without a requirement to test the assertions underlying that information. The procedures employed are not designed and do not enable the auditor to express any assurance on the financial information. However, users of the compiled financial information derive some benefit as a result of the auditor's involvement because the service has been performed with due professional skill and care.
Taxes
Tax Review
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Conduct the review of tax calculation, declaration and payment;
- Identify existing and potential tax risks;
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Propose efficient risk hedging means.
Tax Management
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Advise about tax optimization ways on the basis of the effective laws;
- Act as a representative during the tax dispute settlement at the tax administration and other public authorities.
Tax Calculation and Declaration
- Carry out tax calculation;
- Fill in tax returns.
Other Tax Consulting Services
Accounting
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Bookkeeping Services
- Payroll Services
- Compilation of Financial Statements
- Accounting Advisory Services
- Accounting of EU funded projects
Consulting Services
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Company incorporation and liquidation
- Company reorganisation and restructuring
- Due diligence Consulting on business management
- Tax advisory services Accounting advisory services
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