Service on financial reporting formulation which meets the requirements of International Financial Reporting Standards (separate or consolidate) is the double-sided process and means the active participation in providing of all necessary information by specialists of different employments of company-customer and includes:
- General information acquisition about financial and economic activity of services customer.
- Reaching the understanding of client’s business.
- The analysis of company’s accounting policy.
- The collection, classification and abstract of financial information from accounting data of services customer.
- The adjustment of separate items of accounting as required for coordination with requirements of International Financial Reporting Standards.
- Receiving of necessary representations from customer’s chief executives regarding any uncertainties connected with company’s activity.
- The assistance with a view to provisions.
- Other issues which can arise in rendering services process.
At the end of rendering services the customer is provided by financial reporting which meets the requirements of International Financial Reporting Standards and activity files with applicable adjustments and comments to them on accounting and financial reporting level if any exist.