Services in Statutory Auditing (Statutory Auditors) and Auditing – Internal control, tax audit, internal or external audit and due diligence.

The purpose of Internal or External Auditing Services is to provide our clients with permanent or occasional audits on financial statements, internal control, information systems, foreign exchange and payroll issues, in order to issue an opinion or report as external or internal auditors, on the subject under analysis, as the case may be. This service is ideal for those companies that wish to have greater control over the assets and contingencies of the company. Our team of multidisciplinary professionals works with our Clients to identify and understand what the risks are and how to design and implement controls and best practices.

Our general approach to the work, starts from knowing your company in detail, making a thorough planning for the development of the work of advice and support in the audit tests, always based on the latest audit techniques, this allows us to provide a personalized and timely service.

Our professional service will consist of the accompaniment in the audit work, which includes a series of audit tests on the different cycles in the activity of your company, this work will be developed based on international auditing standards. Special emphasis will be placed on the company’s business cycles that present inherent risk due to their nature, such as income, inventory and treasury cycles, among others; it also includes an audit on compliance with the company’s internal policies and standards as part of the strengthening of the internal control system.

When accompanying and advising on the audit work, we are responsible for evaluating the performance of the audit performed and for reporting in a timely manner any irregularities detected as a result of the audit tests applied.

Process Audit Planning

Perform the audit for the corresponding period, the work is oriented towards business risks, internal control, key processes, regulatory compliance, contractual and identification of potentially important issues, which in the event of a deviation could become critical success factors and impact the Company’s management.

Risk Matrix

The risk matrix will identify the risks associated with each of the macro-processes and establish their probability of occurrence and impact in order to determine the risk of the process. The evaluation depends on good judgment, experience, knowledge and the use of the tools deemed necessary.

Occupational Risk Assessment

This evaluation will allow us to identify and analyze the control risks that may affect the business and the audit risks (inherent, control and detection) that may affect the work due to situations such as: incomplete or late delivery of information, impossibility of developing tests as opposed to business objectives; therefore, tailor-made programs will be designed to facilitate their management or modification, in terms of cost-benefit.

Work Plan Design

In addition to the review of each operating cycle and components, our audit plan includes the procedures and controls established by management for the most significant operations and is based on the analysis of the information gathered in the preceding activities, directing our efforts to those areas or processes that require special attention due to their materiality, volume of operations, level of risk and those that are of particular interest to the company.

STATUTORY AUDITING

The services of Statutory Auditors or Statutory Auditors comply with the current regulations set forth in the Code of Commerce, Law 43 of 1990 and all other provisions that regulate and/or modify it. The Statutory Audit, as an integral service, has its main emphasis on validating the figures of the Financial Statements, verifying the company’s controls, managing risks and information systems, and making a sweep of the audited company’s compliance with legal regulations.

The financial statements are audited in accordance with generally accepted auditing standards and an independent opinion is issued on the financial situation of our clients.

Our firm, through the service of statutory auditors, performs the opinion of your financial statements under Colombian standards or IFRS, the verification of your internal control system and compliance with the legal and statutory provisions of your company.

Our professional service of Statutory Auditing includes a financial audit of the statements; the latter will be developed based on auditing standards, generally accepted in Colombia (Law 43/90). With special emphasis on compliance with formal and substantial tax obligations.

As Statutory Auditors, we present to Senior Management opportunities for improvement in internal control systems, compliance with legal and statutory provisions, and evaluation and management of the companies.

Value Added Taxation in the Statutory Auditor’s Office

Within the scope of the tax audit we offer as an added value a visit with a view to practice a tax audit with the methodology of the DIAN.

Legal Value Added in the Statutory Auditor’s Office

In this audit, the main contingencies of the company in tax matters are also determined and a legal audit is performed by lawyers specialized in law, where the corporate risks will be evaluated in terms of compliance with the bylaws, minutes and specific legal obligations in corporate law, which are inherent to the statutory auditor’s office. At the same time, a percentage of the contracts being executed by the entity will be reviewed in order to detect shortcomings or risks for the company.

INTERNAL OR EXTERNAL AUDIT

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DEVELOPMENT OF THE STATUTORY AUDIT

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DUE DILIGENCE

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JEISON CANTILLO

Audit Director

Public Accountant from Universidad del Atlántico, Master in Accounting from Universidad Libre, with specialization in Financial Accounting from Pontificia Universidad Javeriana and specialist in Tax Management from Universidad Libre.

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Contact us

 

Contact us now and let us provide you with the necessary internal or external audit support.
A multidisciplinary team of expert professionals is waiting to support your company or business.

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Tower Consulting Worldwide S.A.S.

 

Carrera 7 # 127-48
Oficina 1107
Centro Empresarial 128

Bogotá D.C., Colombia

Phone:
(+57) 601-382-8085