Services · Audit and assurance
Audit and assurance services
An audit gives a business independent confirmation that its financial statements reflect reality - for owners, investors, banks and regulators. BeeWise conducts audits in accordance with International Standards on Auditing (ISA) and presents the results in a way that is useful for decisions.
Assurance
Audit · ISA
Engagement progress
68%
Scope
What the service includes
Financial statement audit
Statutory and voluntary audits under ISA, the auditor's report and a management letter with identified weaknesses and recommendations.
Review engagements
Limited assurance review of financial statements when a full audit is not required but an independent assessment is needed.
Agreed-upon procedures
Examination of a specific area or process using pre-agreed procedures: inventory counts, receivables, grant spending, terms of a specific contract.
Internal control assessment
Analysis of financial and operational controls, identification of risks and recommendations for improvement.
Other related services
Financial due diligence before a transaction, examination of special-purpose reports and help preparing for an audit.
Who this service is for
- Entities for which an audit is mandatory by law (first and second category entities and public interest entities)
- Companies whose bank, investor, donor or foreign parent requires an audit
- Owners who want an independent view of the financial position and controls of their business
- Organisations that need a financial examination before a transaction or restructuring
How we work
- 1
Planning and risk assessment
We get to know the business, assess significant risks and set the audit strategy and timeline.
- 2
Controls testing
We test how the internal control system works and how far it can be relied upon.
- 3
Substantive procedures
We perform detailed tests and analytical procedures and examine material items.
- 4
Report and recommendations
We present the auditor's report and a management letter with specific, actionable recommendations.
BeeWise
Why BeeWise
An audit that also sees the processes
Experience in finance, tax and ERP systems lets us see process weaknesses behind the numbers.
Standards without compromise
We work in strict compliance with ISA and ethical requirements. Independence is the foundation of our service.
A result you can use
We walk management through the findings so recommendations turn into real changes.
FAQ
Frequently asked questions
Who is required to have an audit in Georgia?
Under the Law of Georgia on Accounting, Reporting and Auditing, a financial statement audit is mandatory for public interest entities and for first and second category entities. The category is determined by thresholds for assets, revenue and number of employees. For other entities an audit is voluntary or requested by partners and financiers.
What is the difference between an audit and a review?
An audit provides reasonable assurance and involves detailed testing. A review provides limited assurance and relies mainly on analytical procedures and inquiries. A review takes less time and resources and is useful when a full audit is not mandatory.
How long does an audit take?
The timeline depends on the size of the company, the state of the records and the readiness of documents. At the planning stage we agree a realistic calendar and define what information we will need, so the process is as light as possible for your team.
Can BeeWise keep our books and audit them at the same time?
No. Independence requirements prohibit providing bookkeeping and auditing the resulting financial statements for the same company. If BeeWise keeps your books, the audit is performed by an independent auditor, and we help you prepare for it.
How should we prepare for an audit?
The most important things are closed and reconciled records, inventory count reports, contracts and bank statements, and a responsible person to communicate with the auditor. At the planning stage we provide a full list of the documents required.
One hub
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Learn moreNeed independent assurance?
Tell us about your reporting requirements and we will propose the right engagement.