Audit

The purpose of an audit is to ensure that the users of the financial statements (such as shareholders, creditors, various authorities and potential investors) can trust the credibility of the financial information presented in the financial statements when making decisions.

As auditors, we express an independent professional opinion on the reliability of the financial statements prepared in accordance with Hungarian or international reporting standards.

Our clients appreciate constructive advice from our well-trained, experienced and solution-oriented professionals.

In most countries around the world, the name PKF International is well known and respected by those who want to know that a quality, independent audit has been carried out to the highest standards.

Our assurance services

  • Audit of the statutory financial statements prepared in accordance with the Hungarian accounting law.
  • Audit of financial statements prepared in accordance with International Financial Reporting Standards (IFRS).
  • Audit of group reporting package prepared in accordance with the group accounting policy.
  • Audit of company transformations, mergers.
  • Statutory review of in-kind contributions and valuations.
  • Financial duel diligence and other limited reviews and agreed upon procedures.

Our audit approach

Our audit approach is based on a risk analysis methodology that ensures that we target your key business and control issues. By focusing our efforts on high risk areas, we are able to minimise the extent of work in other areas, thereby providing a cost effective and efficient audit. Our work is planned in advance and carried out based on an audit programme tailored to the assignment. We also perform interim audits before the year-end closing. In addition, we are continuously available for our clients for consultation throughout the year.

Our audit provides management with assurance about the effectiveness of the controls built in the management information systems that are used to record transactions and to manage the business. This enables us to pass on a host of information to management and to make recommendations for system improvements that help our clients run their business more effectively. Our final audit report and management letter mean more than audited figures: we offer practical advice designed to increase efficiency, profitability while lowering risks.

Our Staff

For each of our clients, we assign one responsible senior contact person who can be contacted with various accounting, tax and financial issues, and who will then take charge of the process also if specialists, either internal or third party, need to be involved in finding the best solution. Continuous availability and responsiveness to your needs are guaranteed.

We are keen to ensure the continuity of audit staff for recurring engagements to save our clients’ time by not having to re-explain their operations and systems before the audit.