External Financial Audit

Based on our methodology and financial audit approach, our clients are guaranteed to obtain a quality service and a reliable result from our audit process.

To carry out the audit and improve the process, we have computer systems specially designed for the execution of our service, such as AuditBrain® SPT Audit and ACL®.

In addition to delivering an opinion report on the audited financial information, we deliver a management letter with information on the work carried out and the opportunities and recommendations identified to improve accounting processes and policies, internal control and mitigate risks, which is a value added in our service.

We have professionals who are trained in the application of International Auditing Standards in the development of work; and updated on the subject of International Financial Reporting Standards (IFRS), and International Public Sector Accounting Standards (NICSP), International Financial Reporting Standards for SMEs and other specific accounting regulations both nationally and internationally.

Operational Audit

We evaluate the operational effectiveness of your controls and the performance of your employees.

Under our operational audit approach, we present a result about the administrative, strategic and operational aspects evaluated in each of our clients, with which we measure the effectiveness, efficiency, economy and safety with which the activities are carried out in the company.

We have comprehensive operational audit services for the entire organization, by departments, or specific procedures, which are carried out.

The objectives of the operational audit are:

• Analyze the processes of an operational, administrative and managerial nature, to determine how they are structured, defined and communicated.
• Assess the operational efficiency in the application of the procedures and if these adhere to what is defined by the administration in practice.
• Assess whether the defined procedures meet the needs or whether they are subject to adjustments to ensure effectiveness, efficiency, safety and profitability.

Forensic Audit

This service uses auditing techniques (including those established in the ACFE International Fraud Examiners Manual) to investigate, determine and quantify possible existing fraud and crimes committed against the development of public and private functions by officials or others, against the reference framework of entity or estate. This process allows to investigate, analyze, interpret and collect financial accounting information. Based on this process, it also makes it possible to present evidence to the judicial authorities or determine the feasibility of filing complaints against the authors of the fraud.

Objectives of the forensic audit:

• Determine fraud situations.
• Compilation of expert evidence for use in litigation.
• Evaluation of internal control systems.
• Implementation of recommendations and advice, through the implementation of activities to strengthen internal control in the company, to minimize the risk of fraud.
• Participate in the design and creation of fraud prevention programs.

The objective of this audit is to issue an objective opinion on the level of compliance with the internal policies and methodologies established in public institutions and bodies subject to the application of the Law of the Financial Administration of the Republic and Public Budgets No. 8131 and others. legal framework. This audit also presents an objective opinion on compliance with the relevant technical and legal standards and on the reasonableness of the results reported in the Budget Settlement Reports.

This has its origin in the promulgation of the Public Budget Technical Standards, and is carried out in accordance with Resolution R-DC-124-2015 Guidelines for the contracting of work to testify with reasonable security on the preparation of the budget liquidation of the entities and bodies subject to the provisions of number 4.3.17 of the Technical Standards on Public Budget N-1-2012-DC-DFOE.

Risks Audit

This process corresponds to the annual external audit study of Comprehensive Risk Management. Expresses an opinion on the effectiveness, timeliness and adequacy of the Comprehensive Risk Management process implemented by the reporting entities of CONASSIF, in accordance with the provisions of the SUGEF 2-10 agreement “Comprehensive Risk Management Regulations”.

Compliance Audit

This process corresponds to the evaluation of annual compliance by regulated entities and others with the different legal and regulatory provisions of the regulated sectors. Among them we do the following:

• SUGEF 12-21 Agreement Regulation for the prevention of the risk of money laundering, financing of terrorism and financing of the proliferation of weapons of mass destruction, applicable to the subjects bound by article 14 of LAW 7786 (Before SUGEF 12-10 ): Corresponds to the independent evaluation of the efficiency and effectiveness of the policies and procedures on the prevention of ML/FT/FPADM risk, and compliance with Law 7786, its reforms and related regulations.
• SUGEF Agreement 22-18 Regulation on the suitability of members of Management and senior management of financial institutions: Corresponds to the annual independent review of the evaluation process of the Management Body, its members, its Committees and the members of Senior Management. and the review of the effective implementation of all the contents of the evaluation policy.
• Resolution R-CO-33-2008 Review of the annual self-assessment and external evaluation of the quality of the internal audits of the Public Sector: The external quality evaluation consists of the examination carried out by an independent reviewer or review team from outside the institution, with respect to the immediately preceding annual period. It runs at least every five years.
• The modalities of external quality evaluation are:
  a. External quality review
  b. Quality self-assessment with independent validation
• D-2-2004-CO General guidelines on principles and ethical statements to be observed by the hierarchs, subordinate holders, officials of the Comptroller General of the Republic, internal audits and public servants in general: Corresponds to the Evaluation of compliance with the General Guidelines on ethical principles and declarations in the public sector and the legal framework regarding ethics.
• Fraud risk audit in the public sector, as part of the implementation of the Institutional Management Index: Corresponds to the evaluation of the internal control system of public institutions to determine if it exercises appropriate risk management aimed at detecting and fraud prevention.

Assurance engagements, agreed upon procedures and others

They correspond to assurance engagements, previously agreed procedures and other services that are not audits or reviews of historical financial information, agreed procedures and other review procedures considered in the International Pronouncements of quality control, auditing, review, other assurance and related services.

Corresponds to other cases of agreed procedures and limited security that require the work of an authorized public accountant, among others:

• Certifications of accounts or items of financial statements
• Certifications or assurance services
• Review of financial information, NITR 2410 and NITR 2400 (financial statements or interim financial information)
• Certification - Opinion of concrete fact
• Reviews and certification of compliance with Liquidity Reserves
• Income certification for purposes of calculating the municipal patent
• Certification of prospective financial information
• Financial information compilation work to NISR 4410
• Others