1.  Mandatory audit serves to confirm the reliability and full disclosure of financial reports, as well as consolidated financial statements of joint stock companies and other business entities, and is provided for by the current legislation of Ukraine. For example, it may confirm the statements: of issuers when submitting reports to the Securities and Stock Market State Commission; of companies the statements of which are subject to official publication; of liquidation balance sheet; those prescribed by a court ruling, or needed in the case of bankruptcy proceedings initiation; in other cases.

2.  Proactive audit is conducted solely at the request or on the initiative of the owners or managers of enterprises. Proactive audit consists in the examination of various aspects of accounting and taxation, for different time periods. The objects of proactive audit can be:

• Certain business operations or parts of records;
• Taxation of companies;
• Management reporting;
• Compliance with tax laws;
• Financial and economic activities in general;
• Analysis of financial statements;
• Other lines of business.

The most popular is the proactive audit aimed to verify the company’s compliance with requirements of the tax legislation. Such audit results in a true and accurate assessment of the financial standing of an enterprise, assessment of tax risks, and receipt of auditors’ recommendations on elimination of the detected errors and other omissions.

3. Performance of audits and related services according to International Financial Reporting Standards, IFRS. Confirmation of financial statements and compliance thereof with international standards (IFRS).