The need for the preparation and submission of financial and accounting reports to the regulatory authorities, the conduct of an audit is usually dictated by the rules of a particular jurisdiction. There are no reporting requirements in tax havens (Belize, Seychelles, BVA), but you still need to keep accounts and prepare reports. In some onshore, midshore areas, reporting is mandatory, and besides, it must be confirmed by an audit report.
Audit of – it is the analysis of activities and verification of the effectiveness of its work. Purpose of audit reporting – confirmation of its reliability and verification of compliance of accounting with the legislation of the country of residence. Enterprise audit and reporting – a rather difficult task that should be trusted to professionals. Auditors, accountants, lawyers of Key Solutions provide a range of services related to accounting services for offshore companies, preparation of reports and audit reports. You can entrust us with both a one-time task and ongoing maintenance.
When an audit of offshore activities and documents is necessary
An audit and annual submission of audited accounts are required, in particular in Cyprus and Malta. In Cyprus, even firms that do not actually operate are audited.
In Hong Kong, non-resident companies submit audited accounts once a year or every three years. Firms with annual revenues over $50,000 are additionally audited.
In European jurisdictions (Great Britain, Holland, Denmark), companies with a small turnover and assets are exempted from the obligation to undergo an audit, for holding companies it is mandatory.
Sometimes the need for an audit is not related to the requirements of government agencies. In some cases, the expertise is required by the bank, or it is needed to sell the business. In addition, an independent audit helps to identify weaknesses in the company's work, correct miscalculations and mistakes, and find ways for its further development.
What is included in the services of an audit of offshore companies
Key Solutions employees:
- provide consultations on Ukrainian and foreign legislation, on reporting and accounting services for offshore, onshore, midshore companies;
- conduct financial and accounting audits;
- are preparing for a mandatory audit;
- form audit reports.
As additional services, we offer outsourcing accounting services, preparation of reports in accordance with international standards, and we provide consultations on taxation.
The cost of the work of our employees depends on whether you order a one-time service or a permanent service, on the country of jurisdiction, the specifics of the business. The price is formed individually for each project.
We can discuss in more detail the issues of cooperation, the cost of services during a personal meeting in the office or by phone. To get an initial consultation, call us or fill out the feedback form.