has been instrumental in setting up fully licensed audit firms in different countries

Audit Services

The need for financial reporting transparency has never been more significant than in today’s fast-paced complex business world and constantly evolving regulatory environment. Identifying and addressing all key risks that could have a material impact on your financial reporting are essential and require an experienced audit team that understands your business to ensure you will receive an independent opinion and value-added service.

Accounting Audit

Our Approach

Our audit approach is simple yet sophisticated, a risk-based methodology adaptable and customized to focus on each of our client’s specific needs based on their size and nature of operating activities. We plan every assignment carefully with you and put together the best audit team with the most appropriate knowledge and experience for your business. A client-friendly practice, whereby we will explain our process at the beginning of any assignment so that you are aware of what to expect and when to expect it. By keeping you informed throughout the audit process, with regular and timely communication, we ensure that potential risk issues are communicated as they arise, resolved ahead of completion and valuable assessments and recommendations to improve your effectiveness and efficiency are provided.

Eurofasts’ audit team is comprised of experienced engagement leaders and multilevel audit professionals. We act for a significant number of clients, ranging from small to large private and public companies, local and international groups in our capacity as both principal and subsidiary auditor. Our highly competitive fees reflect the approach we adopt and are determined based on the volume and complexity of financial information under review. Through membership in different international audit association, we can support our clients wherever necessary, by addressing international client specific needs as well as enabling us to perform seamless audits all around the world. With over forty years of experience, retaining our objectivity and independence, we endeavor to continue providing high-quality assurance services which will add value to your business and identify opportunities that will help you grow and develop.


Statutory individual and consolidated financial statement audits assist you to comply with the local regulatory and statutory requirements in which you operate. Our offices are licensed by the applicable local authorities to carry out statutory audits as prescribed by the local legislation. Each of our engagement leaders are experienced qualified chartered/certified accountants which do much more than simply look at past transactional events and financial reporting to issue an assurance report but also take a proactive approach, to address complex accounting matters, assess taxation risk exposure, evaluate effectiveness of internal financial controls, and compliance with regulatory corporate requirements.

Frequently, audits are required for individual and consolidated financial statements prepared under International Financial Reporting Standards (IFRS) as adopted within the countries of the European Union but not only. IFRS are the dominant framework of widely accepted accounting principles used for financial reporting purposes. We cater to a significant number of clients, ranging from small to large private and public companies, local and international groups in our capacity as both group and subsidiary auditor. It is of utmost importance to develop enough knowledge of your business so that we can further assist you with tax compliance or offer business advice to support you on broader commercial and corporate issues.

Interim financial information is financial information which comprises of either a complete or a condensed set of financial statements prepared for a period that is shorter than the entity’s financial year. Such a review consists of making inquiries and applying analytical procedures. The objective of a review is to express a conclusion whether, based on the review, anything has come to our attention that causes us to believe the financial information is not prepared, in all material respects, in accordance with an applicable financial reporting framework. Our audit team can provide you with useful insights on the financial information under review, supporting you across all phases of the business lifecycle as well as deal with complex accounting and tax issues early on.

Internal Auditing is defined as a consultancy activity, to provide objective assurance which is designed not only to add value but to improve a company’s operational effectiveness and efficiency. We undertake your outsourced internal audit function and report directly to the board of directors or appropriate committee on our findings. The internal audit process includes evaluation, design and assistance in implementation of business procedures. Furthermore, it entails identification and assessment of the potential impact risks can have on your company, accompanied by recommendations and suggestions on how to best address and mitigate them.

We offer and undertake special purpose audits of financial statements prepared under International Financial Reporting Standards (IFRS) can be required for various reasons. Often, for example, audited financial statements are requested in a cross-border transaction or tax investigation. Especially in coun-tries where even though there may not be a statutory audit requirement, audited financial information prepared under IFRS are widely accepted as the accounting principles to be used for financial reporting. Other instances maybe that such audits are required for the purposes of reporting to the Group auditor who is expressing an opinion on the Group financial statements prepared under IFRS or required by a local authority.

A business valuation is undoubtedly one of the primary deciding factors in any business proposition such as a merger, acquisition, disposal or management buyout, as well as when engaging in tax planning, financial restructuring, dispute resolutions, reorganizations and much more. Services offered, include but are not limited to, share and business valuations, asset valuations, subsidiary or joint venture valuations, goodwill and impairment tests, financial restructuring and reorganizations, as well as analysis and advice on mergers and acquisitions. Our methodology and approach focus on providing our clients practical insight on the strategic, operational and financial affairs of a business to accomplish their long-term strategy and overcome any challenges. This is achieved by identifying critical success factors, evaluating potential risks and key assumptions which enable us to provide an independent and objective opinion on business and other valuations.

Financial due diligence is an investigation of a business prior to engaging in an acquisition contract. Whilst it is not an audit nor a valuation of the target company, it does facilitate the buyer to identify and assess all the key financial aspects of a potential acquisition.  Our aim is to support and assist our clients to determine what are the financial risks and their potential impact, as well as identify opportunities associated with such a business transaction. The approach we adopt focuses on understanding the context in which the acquisition will take place, reviewing on and off-balance sheet assets and liabilities, assess the quality and drivers behind maintainable profits, determine cash flow generators, evaluate management information systems and the control environment, as well as review the appropriateness of accounting policies and methods used in relation to the industry the target business operates.

The responsibility for the preparation of the financial statements in accordance with International Financial Reporting Standards (IFRS) rests with the company’s management. On an ad hoc or ongoing basis, we provide IFRS consulting services to our clients to meet this responsibility. These include, continuously informing clients on changes in the financial reporting and legislative frameworks, providing solutions to complex IFRS issues and offering guidance on critical concepts applied in the preparation and disclosure of reported financial information. Our IFRS support services aim to ensure that the financial statements provide complete, accurate and useful financial information not only for existing shareholders but also to other stakeholders such as potential investors, lenders and local authorities. Furthermore, we can customize, design and deliver appropriate IFRS training courses to meet specific client needs on the application of general concepts or specific accounting standards, adoption and interpretation of revised or new IFRS.