Your situation
The first statutory audit, prepared in good time
The first audit year is the most demanding: opening balances, accounting policies and documentation are examined for the first time.
60 minutes online with the partner · free, no obligation · written summary within three working days
What you get from the free assessment
- The financial year from which the requirement applies
- What to prepare before the auditor arrives
- How to set up the internal audit the law also requires
In brief
Context, approach, next step
The first statutory audit
Exceeding the limits for at least two of the three criteria in two consecutive financial years triggers the statutory audit requirement and, with it, the requirement to organise internal audit.
We prepare the first year
Either we act as your statutory auditor, or we prepare you for the auditor you choose: opening balances, accounting policies and documentation, so that the first audit finishes on time. We do not provide both to the same company, for independence reasons.
Statutory audit →Internal audit →Year-end audit preparation →
Check and prepare
Use the audit threshold calculator and request our guide to the first statutory audit.
What the first year involves
In the first audited year, the auditor must also obtain evidence for the opening balances, the figures carried over from the previous, unaudited year. Reconciliations, the inventory count and the documentation of accounting estimates therefore matter more than in later years.
The statutory audit also brings the requirement to organise internal audit. You therefore need two things: a statutory auditor and an internal audit function. We do not provide both to the same company, for independence reasons, so it is worth planning both together, from the autumn.
Free 60-minute assessment
60 minutes with the partner: find out what to do, and in what order
An online conversation, with no obligation: which requirements apply to your company, from which year, which risks we see and what is worth preparing now. Within three working days you receive a 1–2 page written summary. The summary is not an audit report.
Cătălin MaziluManaging Partner · FCCA, CIA
Online booking
Only available slots are shown, Monday to Friday between 08:00 and 20:00 (Romanian time), at least one day in advance.
Choose a time in the calendarYou book through Microsoft Bookings, which opens in a new tab.