Main institutionally established object of Certified Public Accountants. Includes the audit and provision of assurance on financial and non-financial information, with the purpose of expressing an independent opinion on their reliability, in accordance with international auditing standards and legislation.
1
Statutory Audit of Financial Statements - Legally mandatory audit of the annual financial statements, with the purpose of expressing an audit opinion on whether these fairly present the financial position and results of the business, in accordance with the applicable accounting framework (GAS - Greek Accounting Standards / IFRS - International Financial Reporting Standards) · Audit of Public Interest Entities (PIE - Public Interest Entity) · Audit of non-listed companies · Audit of special sectors (banks, insurance companies, etc.) · Société Anonyme, Limited Liability Companies, Private Capital Companies above thresholds · Listed companies · Obligation arising from corporate & tax law · Transparency towards shareholders, banks, investors
2
Voluntary Audit of Financial Statements - Audit of financial statements without legal obligation, following the company’s choice, aimed at reliability and improvement of financial information. · Audit for third parties (banks, investors) · Audit for internal use · Small and Medium-sized Enterprises seeking bank financing · Family businesses · Preparation for sale or entry of an investor
3
Audit of Consolidated Financial Statements - Audit of the financial statements of a group of companies, with the purpose of expressing an opinion on the consolidated financial picture of the parent and subsidiaries. · Audit of groups based on IFRS · Audit of Greek or international groups · Coordination of subsidiary auditors · Groups of companies · Multinational structures · Investment schemes
4
Limited Review Engagement - Provision of limited assurance through analytical procedures and inquiries, without extensive audit tests. Review of annual financial statements · Review of interim financial statements · Review for a specific purpose · Interim financial information · Lower cost than a full audit · Use for investment or banking purposes
5
Audit of Interim Financial Statements - Audit or review of financial statements covering a period shorter than a year (e.g. quarter, half-year). Audit of quarterly/semi-annual statements · Group reporting audit · Listed companies · Internal management information · Contractual obligations with banks
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Special Purpose Audit - Audit of financial information prepared for a specific purpose and not for general use. · Audit of special statements · Audit of specific accounts · Audit based on contracts · Grants · Contracts with the Public Sector · Private agreements
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Agreed-Upon Procedures (AUP - Agreed-Upon Procedures) - The auditor applies procedures agreed in advance with the client and reports findings without expressing an opinion. AUP on financial data · AUP on grants · AUP on special audits · Applications · Banks · Public Sector · Investors
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Assurance on Non-Financial Information - Provision of assurance on information that is not purely financial (e.g. operational data). · Compliance reports · Key Performance Indicator (KPI - Key Performance Indicator) · Corporate reports · Regulatory requirements · Transparency towards stakeholders
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Assurance on Indicators & Reports - Audit of the reliability of performance indicators that are published or used in contracts. · Financial indicators · Operational indicators · KPIs for Environmental, Social and Corporate Governance (ESG) · Management bonuses · Banking contracts · Group reports
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Assurance on Sustainability Reports (CSRD / ESG) · Independent assurance of sustainability reports in accordance with European directives and standards. · Limited assurance · Reasonable assurance · Compliance with the Corporate Sustainability Reporting Directive (CSRD compliance) · Large enterprises · Listed companies · Access to financing
Greek
