Audit in Bulgaria

We offer the following auditing services in Sofia, Bulgaria:

• Annual audit for medium companies
• Book and balance audits in cases of  companies purchase or alienation of shares
• General accounting revisions
• Audits in cases of misappropriation
• Reporting to foreign shareholders

The audit in Bulgaria is conducted in accordance with the International Standards on Auditing (ISAs). These standards require the auditor to comply with the ethical requirements and to plan and conduct the audit in a way to provide reasonable assurance that there will be no significant deviations in the audit of the financial statements. An audit involves the performance of procedures regarding the amounts and disclosures in the financial statements. The audit further includes assessments of the suitability of the accounting technology used and of the reliability of the estimates by the management body, as well as the overall settlement as a whole.

Because of the inherent limitations of the audit, taken together with the inherent limitations of the internal control, there is an imminent risk that significant deviations will not be detected, even though the audit is properly planned and performed in accordance with ISAs.

In the process of the risk assessment, the auditor considers the internal control system in the company concerning the preparation of the financial statements of the company in order to find the most appropriate control method without prejudice to the effectiveness of the internal control system of the company.

Notwithstanding the above, the auditor is obliged to inform you in writing of any material weakness of the company´s internal control system related to the audit.