Audit & assessment of the annual accounts

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An inventive audit approach with added value

In close consultation with our clients, we compose an integrated 'risk and controls' based approach, based on opportunities, challenges, developments and risks. In this process, we focus on identifying potential risks and on the manner in which you deal with these risks.

We will exchange ideas with you early on in the annual accounts cycle in order to identify potential points of interest in as early a stage as possible and in order to keep the communication transparent. While auditing the accounts, we will also look at issues that only indirectly influence the items on the annual accounts. This allows us to give you practical advice in the field of return improvement, financing structure and process optimisation.

Wherever possible, we will rely on your internal management processes and internal audits, to prevent activities from being performed twice. Adequate internal management enables us to limit the nature and extent of the information oriented audits. This enables us to carry out an efficient and effective audit.

Modern audit standards require modern techniques

Mazars carries out audits based on the most modern audit standards. The International Standards on Auditing are the norm, and have largely been included in the Dutch Audit Guidelines (Nederlandse Richtlijnen voor de Accountantscontrole). In addition, Mazars has internal quality standards that meet and exceed the International Standards on Quality Control.

+Vantage

In order to apply the extensive standards accurately and efficiently, Mazars uses an in-house developed software application, +Vantage. This software ensures that all the required aspects of the audit are met. In addition, +Vantage allows us to focus on the issues that matter to you.

International audit approach

We can plan and monitor the audits of your foreign activities. Our international approach ensures an adequate and consistent audit report.

Audits in various countries carried out consistently

In order to ensure that the audits in various countries are carried out consistently we employ a group audit instruction. This instruction is drawn up in close consultation with you, so the Board of Directors can, for example, define specific points of interest (risk areas and scope). In the group audit instruction, information has been included regarding:

The critical audit objectives
The materiality standards to be applied
Planning
Required reports (advice letter, summary of audit differences, etc.)
Audit questionnaire

Activities carried out at group level are immediately reported to the local accountants, so these activities are not carried out twice.

Audit or assessment?

An audit is only mandatory for organisations of a certain size; smaller organisations have the option of having a professional assessment carried out. If you want certainty, but feel that an audit assignment would be a bit overdone, you can choose to have an assessment carried out. An assessment does not go as far as an audit, it is more of an analysis of the figures than a verification, but it does guarantee a professional and independent opinion of the reliability of your annual accounts.