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Financial Review and Assurance


The analysis that each situation requires

At Afianza we help companies to strengthen the reliability, consistency and reasonableness of their financial information through review and assurance services tailored to each need. We review financial statements and interim financial information, analyze specific areas of reporting, prepare reports on agreed procedures and review financial information for consolidation processes, parent companies, investors or funding entities. In addition, we accompany organizations in the preparation of their first audit and evaluate both internal financial control systems and accounting closure processes and operating circuits with the greatest impact on financial information, such as revenue, purchases, treasury or stock.

Having the support of our Financial Review and Assurance experts allows companies to have an independent view of the quality of their financial information, anticipate incidents, detect control weaknesses and reduce the risk of errors or inconsistencies. It also helps to improve the efficiency of processes, strengthen the quality of reporting used by management and governing bodies and ensure that financial information conforms to accounting criteria, consolidation needs and third party requirements.

The scope, procedures and type of report are defined according to the purpose of each assignment. Limited reviews provide limited security; agreed procedure reports report objective findings without expressing an opinion or conclusion; and specific diagnostic or review work are limited to the expressly agreed scope

Our Financial Supervision and Assurance Services

Limited review of financial statements and interim financial reporting

We apply analytical procedures and inquiries to issue a limited security conclusion on financial statements and interim financial information. This service is an appropriate alternative when…

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We apply analytical procedures and inquiries to issue a limited security conclusion on financial statements and interim financial information. This service is an appropriate alternative when an independent review is required with a scope lower than that of a full audit.

RIF – Review of financial information

We make specific reviews of financial statements, accounting closures, specific areas or information prepared for management or for third parties. Our work allows us to obtain…

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We make specific reviews of financial statements, accounting closures, specific areas or information prepared for management or for third parties. Our work allows us to obtain objective conclusions about the reliability, consistency and reasonableness of the information analyzed, offering an independent review with a smaller scope than that of an audit.

IPA – Agreed procedures reports

We execute procedures previously agreed with the entity and, where appropriate, with the users of the report. We present the results in the form of objective…

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We execute procedures previously agreed with the entity and, where appropriate, with the users of the report. We present the results in the form of objective findings on the areas analyzed, without issuing an overall audit opinion.

Review of financial reporting for groups

We review reporting packages, financial information for consolidation processes, reports for parent companies and documentation prepared for investors or funding entities. Our goal is to evaluate…

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We review reporting packages, financial information for consolidation processes, reports for parent companies and documentation prepared for investors or funding entities. Our goal is to evaluate the consistency of the group’s financial information and its alignment with internal guidelines and applicable accounting framework.

Preparation for a first audit

We make a preliminary diagnosis of accounting criteria, supporting documentation, closing processes, internal controls and the main areas of risk before the start of a first…

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We make a preliminary diagnosis of accounting criteria, supporting documentation, closing processes, internal controls and the main areas of risk before the start of a first audit. This analysis allows us to anticipate possible incidents and contribute to a more efficient audit process.

Evaluation of the internal financial control system

We analyze the design and operation of controls that support the generation of financial information. We identify possible weaknesses, make recommendations for its improvement and contribute…

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We analyze the design and operation of controls that support the generation of financial information. We identify possible weaknesses, make recommendations for its improvement and contribute to improving the quality of information used by management and governing bodies.

Review of accounting closure processes

We review the closing schedule, the sharing of responsibilities, reconciliations, estimates, adjustments and controls associated with financial reporting. Our goal is to improve the efficiency of…

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We review the closing schedule, the sharing of responsibilities, reconciliations, estimates, adjustments and controls associated with financial reporting. Our goal is to improve the efficiency of the process and reduce risks arising from errors or inconsistencies in financial reporting.

Revision of revenue, purchasing, treasury and stock circuits

We evaluate the operating processes with the greatest impact on financial information, from the initial recording of transactions to their accounting reflection and their incorporation into…

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We evaluate the operating processes with the greatest impact on financial information, from the initial recording of transactions to their accounting reflection and their incorporation into reporting. This analysis allows us to detect control weaknesses, identify inefficiencies and propose improvements in critical areas for the operation of the business.

This helps companies to have reliable information:

(01)

We work by applying review procedures based mainly on the analysis of the information and the conduct of inquiries, adjusting the scope of the work to the specific needs of each company.

(02)

We define specific procedures agreed with the entity and, where necessary, also with the users of the report, to focus the review on areas that require objective and independent verification.

(03)

We perform a detailed technical analysis of the financial information, processes, controls and documentation that supports it to assess its consistency and reliability.

(04)

We approach each review from a preventive approach, identifying risks, anticipating incidents and identifying possible weaknesses before they affect audit processes or financial reporting.

(05)

We evaluate both financial information and the processes that generate it, analyzing the design and operation of controls and operating circuits linked to the most relevant areas of the business.

(06)

We direct our reviews towards continuous improvement, proposing measures that help to strengthen procedures, optimize closure processes and improve the quality of financial information.