Audit & Assurance Services
Independent audits with added value
At AA&C Auditores Limitada, we offer auditing and assurance services designed to provide organizations with a clear and objective view of their financial and operational situation. Our approach is based on independence, professional ethics, and a commitment to quality, providing confidence to our clients and their stakeholders.
Our Services
Areas of Specialization in Auditing
At AA&C Auditores, we understand that every organization faces unique challenges. That is why our approach to auditing and assurance combines independence, objectivity, and a methodology based on international standards, enabling us to deliver clear, reliable, and useful information for decision-making.
Reviews of interim financial information
Audit of financial statements
We offer a comprehensive approach that combines the audit of financial statements and the audit of internal control over the process of preparing and presenting financial information (CIPPIF). This approach aims to provide a broader and deeper insight into the reasonableness of the financial statements and the effectiveness of the entity's internal control system.
Mergers and audits for business combinations
Due Diligence
We have the experience to lead assignments other than audits or historical reviews, to reach conclusions or assertions about the reliability of specific matters.
Compliance with Covenants
Inventory Assurance
Economic Capacity Report
Results that make a difference
At AA&C Auditores, we measure success by the results our clients achieve. Our work builds trust, streamlines key processes, and improves risk visibility, generating tangible value for your business.
Reduction in recurrent findings and closure times.
Greater reliability with banks and regulators.
Better visibility of risks and internal control.
Our way of working
At AA&C Auditores, we apply a structured methodology that allows us to understand your business, assess risks, and accompany you through every stage of the process. This approach guarantees clarity, efficiency, and measurable results from the outset.
- Diagnosis: understanding the business and key risks.
- Work plan: materials, schedule, and equipment.
- Execution: testing, evidence, and continuous communication.
- Report and follow-up: conclusions, recommendations, and improvement plan.
Further information
Frequently asked questions Frequently asked questions
Why is auditing important?
An independent audit increases the credibility of financial statements with banks, investors, and regulators, facilitating access to financing and better rates. It also helps to comply with contractual or regulatory requirements and manage risks by detecting material errors and internal control weaknesses that could lead to losses, fraud, or penalties. In short, it improves the quality of information for decision-making by the board of directors and management.
How are the focus and duration of an audit determined?
The auditor, in accordance with International Auditing Standards (IAS), first understands the business and its risks, defines materiality (quantitative and qualitative thresholds), and designs a response that combines tests of controls and substantive tests, prioritizing areas of higher risk (revenue, inventory, financial instruments, provisions, etc.). The time required depends on the size and preparation of the information: in a medium-sized company, planning usually takes 1–2 weeks, interim work 1–3 weeks, final work 2–4 weeks, and the issuance of the report up to 10 business days later. This timeframe is extended if it is the first audit, there are multiple subsidiaries or consolidations, high transaction volume, non-standardized ERP, or delays in evidence.
What should you do if errors are detected?
First, they are quantified and classified (from the current period or previous periods) and their individual and aggregate effect on materiality is assessed. Then, the necessary accounting adjustments and disclosures are recorded; if management decides not to correct them, the auditor assesses the impact on the opinion (emphasis, qualification, abstention, or adverse). At the same time, the root cause (controls, policies, or IT) is analyzed, a remediation plan with responsible parties and deadlines is defined, and it is formally communicated to corporate governance. If there are indications of fraud, the protocols of ISA 240 are applied: expand testing, preserve evidence, and escalate to the appropriate authorities.
How to apply IFRS for the first time?
Adoption is governed by IFRS 1. A transition date (beginning of the comparative period) is set and an opening statement of financial position under IFRS is prepared, applying consistent accounting policies retroactively, with some exceptions. IFRS 1 allows for widely used practical exemptions, such as measuring property, plant, and equipment at fair value as "attributable cost," resetting accumulated translation differences to zero, or not restating previous business combinations. Finally, mandatory reconciliations between the previous accounting framework and IFRS (equity and income) are presented, explaining the main adjustments, and a project plan is managed with gap analysis, policy definitions, data/valuation cleanup, training, and a parallel accounting cycle to validate figures.
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