Independent Audit and Assurance in Costa Rica
A financial statement audit gives third parties an independent opinion on whether the information presented is reasonable. We perform audits and assurance engagements under International Standards on Auditing (ISA) and Law No. 7527, with reports that banks, partners and investors can rely on.
What is included
- Audit of general-purpose financial statements
- Agreed-upon procedures reports and reviews
- Audit of projects, associations and funds
- Internal control assessment and management letter with recommendations
- Pre-audit review ahead of an external audit or a credit application
When it makes sense
It is usually required when a financial institution asks for it to grant credit, when partners or investors want independent information, or when regulation or a contract requires it. It is also useful on a voluntary basis to tidy up internal control before growing or selling the business.
Before accepting each engagement we assess the professional's independence from the client, as the standards of the profession require.
Frequently asked questions
What is the difference between an audit and a certification?
A certification confirms specific data, such as income or balances. An audit assesses the financial statements as a whole and ends with an opinion. Scope, time and cost are different.
Is my company required to be audited?
It depends on its size and activity, whether a regulator supervises it, and what its creditors, partners or contracts require. We review it in an initial consultation.
What do I need to get started?
Financial statements for the period, trial balance, subsidiary ledgers, bank reconciliations and supporting documents. With that we define the scope.