Our streamlined audit processes result in timely financial reporting and are performed in accordance with ISA
Financial Statements Audit
The objective of an audit is to enable the auditor to express an opinion whether the financial statements are prepared, in all material respects, in accordance with the applicable financial reporting framework (such as Belgian GAAP, IFRS or US GAAP). Those audits are performed in accordance with the International Standards on Auditing (ISA).
In a more and more demanding environment our risk-based methodology helps our clients identify risk areas in their day to day business. Our streamlined audit processes result in timely financial reporting and disclosure in line with the expectations of regulators, creditors, investors, personnel and other stakeholders.
Auditing
Review Engagement
You are looking for a quick scan of your figures? You do not need an audit, but would like to obtain some comfort on your figures? Is an audit too costly?
Under a review engagement, we, as auditors, will state whether, based on procedures which do not provide all the evidence that would be required in an audit, anything has come to our attention that causes us to believe that the financial statements are not prepared, in all material respects, in accordance with an applicable financial reporting framework. A review engagement is carried out by ON Outsource in accordance with ISRE 2400 or ISRE 2410.
Agreed Upon Procedures Engagement
A cost claim under the 7th Framework Programme or Horizon 2020 Programme of the European Commission? EFRO subsidies? FOST Plus? Recupel?
An agreed-upon procedures engagement is an engagement, in which an auditor is engaged to carry out those procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings. The recipients of the report form their own conclusions from the report issued by the auditor.
Use the benefits of our streamlined organization, trained pools of experts, and tailored solutions.
Prospective Reporting
An auditor may be engaged to provide a report on forecasts and projections prepared by a business. The engagement may be regulated, for example, in connection with a securities offering to a regulated market, or it may be contractual such as a report upon request of a bank.
The auditor is reporting on the credibility of future financial forecasts and projections. In assessing the credibility of this information the auditor will consider matters as the basis of preparation of the information, the quality of the assumptions used in preparing the information, how the forecasts compare such with external economic forecasts and how the forecasts compare with the historical performance of the business.
Assurance on non-financial information
Increasingly, businesses and their stakeholders need assurance on aspects of their business outside of the purely financial arena. This can be a key element of an organization’s control environment, the internal controls of a third-party service provider, the information to be provided by municipalities or AGB’s under the BBC-Besluit or can cover an organization’s commitments to its employees or an organization’s efforts in respect of sustainability.
ON Outsource assurance work is conducted under a variety of frameworks that are based on international standards. As a result, the assurance services we provide can be tailored to the small, independent business to the larger, multinational businesses.
