AUDITING AND REVIEW OF FINANCIAL STATEMENTS

In a business environment often subject to a great deal of uncertainty, it is of vital importance to present accurate, transparent and reliable financial information to stakeholders, creditors, investors and supervising entities.

The financial auditing and statutory auditing procedures regulated by the OROC (Portuguese Institute of Statutory Auditors) and overseen by CMVM (Portuguese Securities’ Market Commission) serve to certify the quality of such financial information.

The audits can arise from legal, statutory or contractual provision, or by decision of a company’s management bodies.

Entities Subject to Statutory Audit:

• All Limited Companies;
• All Pure Holding Companies – SGPS;
• Limited companies without a supervisory board and exceeding two out of the three following limits: (i) A balance sheet total of not more than € 1 500 000;  (ii) Net Sales and Other Income of € 3 000 000 and; (iii) Average number of 50 employees during the financial year;
• Public sector entities with administrative and financial autonomy;
• Real Estate and Security Funds;
• Pension Funds;
• Municipalities;
• Hospitals, Public Enterprise Entity (EPE);
• Autonomous funds from the State;
• Foundations and other entities from the non-profit sector exceeding 1.7 times the limits referred above.

Our work is characterized by rigor, the highest level of technical excellence and unwavering professional ethics. We operate in different contexts, in an increasingly complex business world. That is the reason why we have a multidisciplinary team of competent professionals, who operate according to each business, each context of intervention and each client’s needs.

Our work methodology has 40 years of maturation. It is the result of deep know-how and based on a set of values ​​that we consider essential in all our projects and assignments. The outcome of our work is presented in detailed and trustworthy reports.

And we make recommendations that add value to the company and assist the management in decision-making processes aimed at anticipating or mitigating risks, streamlining control mechanisms and promoting reliable accounts.

In close partnership with our clients, we monitor their operations throughout the year and advise the administration on how to comply with the legal and technical requirements related to our professional field. Issuing the Legal Certification of Accounts is the last stage of this process.

Regardless of its legal obligation, the Legal Certification of Accounts brings also undisputed benefits, among which we highlight the following:

• Add credibility to the accounts when presented to third parties.
• Identify potential areas of improvement and recommend the best practices to overcome obstacles and or to strengthen effective internal control mechanisms intended to minimize the occurrence of errors or fraud.
• Monitor the compliance with a set of legal regulations.
• Is a thorough analysis done by highly skilled professionals qualified on taxation and accounting, areas known for its complex legislation.

We provide Auditing and Review of Financial Statements throughout the national territory in a regime of full operational and hierarchical independence and under a strict internal quality control to ensure that our activity is aligned with the best practices of the sector, in accordance with the International Standards of Auditing (ISA).

Our extensive experience is an undeniable asset. With a diverse human capital from a variety of backgrounds, we build tailored teams to fit our clients’ requirements and needs. And in the public and the private sector, in different fields of business, whatever the size of their organisations, they all recognise the quality of JM Ribeiro da Cunha &Associados’ service.