Statutory audit, with a timetable agreed from the start

Ideally by October–November of the year being audited, so that planning and interim work start before year-end and we can attend the 31 December inventory count. Later is possible, but the timetable becomes tighter.

We don't publish standard rates. Each proposal is built on the company's risks, structure and needs: the number of entities and processes, the systems used, the group's requirements and what is already covered. The fee is calculated by phase, from the estimated time and the experience level of each team member, and you receive it broken down in the proposal within one working day of receiving the information we need. Hours over budget are worked only with your prior written approval.

The general meeting of shareholders, under Law no. 31/1990. The audit contract is then concluded on the basis of the meeting's resolution.

The auditor's report is issued in Romanian, for filing with the financial statements. On request we also issue it in English, and the management letter and communication with the group auditor can be in English from the start.

For every engagement we name a deputy at the outset who knows the file, so the timetable does not depend on one person's diary. The report is signed by the key audit partner.

No. We never provide statutory audit and internal audit to the same company, for independence reasons. For public-interest entities, Regulation (EU) No 537/2014 (Article 5) also prohibits internal audit services, and for designing and implementing internal control or financial IT systems the prohibition also covers the financial year immediately before the audited period. We can recommend the right set-up in the first conversation.