Financial Audit - Head Office

Our audit practice is specialised in the financial audit of medium-sized companies in various industries – manufacturing, services, wholesale and retail trade, etc.  

We have vast experience in the financial audit of projects under European programmes.

The role and task of a financial audit is to offer an independent and fair professional assessment of the correctness of the company’s financial statements in order to protect the interests of its owners, creditors and contractors.

In order to fulfil this responsible role, we at Kreston BulMar execute a wide range of audit procedures in compliance with the Auditing Standards and we assess:
• the reliability of the IT systems;
• the running of the business processes and their correct recording in accounts;
• the compliance with the legislation;
• the effectiveness of the internal controls;
• the compliance with the applicable accounting standards;
• the correctness of the taxes charged, in accordance with the tax legislation;
• the correctness of all items in the financial statements – including income, expenses, receivables, payables, assets, etc.;
• the presence or lack of abuse, material errors or fraud;
• the process of closing the accounts;
• the consistency of information in the financial statements with the management report and with any other information provided by the management along with the financial statements.

During the financial audit we apply a customised approach and make timely recommendations for improvement of the organisation and reporting of each of the audited elements, to enable the management, investors and creditors to derive maximum benefit from our work – namely, how to improve the company's reporting, control and key activities.

The main difference between accounting and financial audit  is that accountants are specialised in accounting for all business operations in order to prepare financial statements, whereas auditors are specialised in collecting strong evidence that each line in the financial statements represents truly the sales turnover and the financial state of a company, and that the assets are not overstated and the liabilities are not understated.

Incorrect presentation of the sales turnover, overstated assets or understated liabilities create untrue feeling about the state of a company, which could mislead owners, managers, creditors, clients and suppliers to remain passive or to adopt inappropriate measures in respect of the company and this could severely damage its ability to develop in the long term.

In this regard, during a financial audit, we apply large-scale control procedures to identify all inconsistencies in the financial statements and to recommend appropriate measures for their correction as well as proper measures for the better financial presentation of the company.

We provide 100% compliance with GDPR and the Personal Data Protection Act.

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Besides the experienced financial audit team, the Head Office of Kreston BulMar has excellent lawyers, tax experts, financial and business consultants who have worked together for years and are extremely effective in finding any business solutions that require simultaneously accounting, tax, financial, legal and business perspectives and expertise.

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Transparency Report
In compliance with the requirements of the Eighth EU Directive of 2008 and in accordance with Article 62 of the Independent Financial Audit Act we publish our transparency reports, which are available here.

Our audit practice is specialised in the financial audit of medium-sized companies in various industries – manufacturing, services, wholesale and retail trade, etc.  

We have vast experience in the financial audit of projects under European programmes.

The role and task of a financial audit is to offer an independent and fair professional assessment of the correctness of the company’s financial statements in order to protect the interests of its owners, creditors and contractors.

In order to fulfil this responsible role, we at Kreston BulMar execute a wide range of audit procedures in compliance with the Auditing Standards and we assess:
• the reliability of the IT systems;
• the running of the business processes and their correct recording in accounts;
• the compliance with the legislation;
• the effectiveness of the internal controls;
• the compliance with the applicable accounting standards;
• the correctness of the taxes charged, in accordance with the tax legislation;
• the correctness of all items in the financial statements – including income, expenses, receivables, payables, assets, etc.;
• the presence or lack of abuse, material errors or fraud;
• the process of closing the accounts;
• the consistency of information in the financial statements with the management report and with any other information provided by the management along with the financial statements.

During the financial audit we apply a customised approach and make timely recommendations for improvement of the organisation and reporting of each of the audited elements, to enable the management, investors and creditors to derive maximum benefit from our work – namely, how to improve the company's reporting, control and key activities.

The main difference between accounting and financial audit  is that accountants are specialised in accounting for all business operations in order to prepare financial statements, whereas auditors are specialised in collecting strong evidence that each line in the financial statements represents truly the sales turnover and the financial state of a company, and that the assets are not overstated and the liabilities are not understated.

Incorrect presentation of the sales turnover, overstated assets or understated liabilities create untrue feeling about the state of a company, which could mislead owners, managers, creditors, clients and suppliers to remain passive or to adopt inappropriate measures in respect of the company and this could severely damage its ability to develop in the long term.

In this regard, during a financial audit, we apply large-scale control procedures to identify all inconsistencies in the financial statements and to recommend appropriate measures for their correction as well as proper measures for the better financial presentation of the company.

We provide 100% compliance with GDPR and the Personal Data Protection Act.

------
Besides the experienced financial audit team, the Head Office of Kreston BulMar has excellent lawyers, tax experts, financial and business consultants who have worked together for years and are extremely effective in finding any business solutions that require simultaneously accounting, tax, financial, legal and business perspectives and expertise.

------
Transparency Report
In compliance with the requirements of the Eighth EU Directive of 2008 and in accordance with Article 62 of the Independent Financial Audit Act we publish our transparency reports, which are available here.

Prices

Request

Naycho Tsanov str. 172

(02) 6 12 06

Financial Audit

Dormant companies

from 1000 BGN

Companies with highly limited activity

from 1400 BGN

Companies with limited activity

from 1800 BGN

Business combinations as governed by the Commercial Act

from 1000 BGN

General tax and accounting review

Free

Clients

These are some of our clients, which are ready to share review for our work

• Уникарт

Българска Агенция за кредитен рейтинг

Смарт Енерджи

Шьоли Оптикс

Линдстрьом

Хотел Сенс

LPP Fashion Bulgaria

О Плюс

Пърсънъл Файнанс България

Location

1

Nishka str. 172

Contact person
Vanya Iribadzhakova - Marketing Director
0878 650 000 bulmar@bulmar.com