Audit of financial statements

Audit of Financial statements – performing procedures to obtain audit evidence that financial statements are free from material misstatements and are prepared according to IFRS or other alternative conceptual framework.

During audit of financial statements are checked:

  • indicators of all financial statements, notes and disclosures according to the requirements of IFRS;
  • submitted documentation for compliance with legal requirements;
  • completeness, reliability and correctness of accounting and tax accounting transactions.

According to regulations, there is:
Statutory audit

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Audit of financial statements (consolidated financial statements) of business entities that are required by law to make public or provide financial statements (consolidated financial statements) to users of financial statements along with an audit report conducted by audit entities on the grounds and in the manner prescribed by legislation of the Republic of Tajikistan.
Initiative audit.

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Audit, which is conducted on the initiative of the management or owners of the company

Which companies are subject to statutory audit?

  • enterprises of public interest (large enterprises, insurance companies, financial companies,
  • banks, non-state pension funds);
  • medium-sized enterprises;
  • Public joint-stock enterprises;
  • subjects of natural monopolies in the national market;
  • business entities operating in the mining industries;
  • other enterprises and organizations that are subject to statutory audit in accordance with the requirements of the law.

What do we offer

HLB Tajikistan provides audit services for financial statements prepared in accordance with IFRS, according to International Standards on Auditing, in particular:

  • statutory audit of financial statements, including for Regulators (an audit of insurance companies, an audit of financial companies, an audit of municipal property enterprises, an audit of natural monopoly enterprises, an audit of enterprises engaged in mining operations, of national importance and others in accordance with the requirements of the current legislation of Tajikistan);
  • initiative audit of financial statements;
  • audit of financial statements for submission to banks;
  • audit of special-purpose reporting (including audit of political parties);
  • audit of projects on the use of grant/donor funds;
  • providing assurance regarding annual reporting data (as required by Regulators).

What do you get

Depending on the purpose of the audit, based on the results of the audit, HLB Tajikistan provides:
Independent auditor’s report
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Contains an opinion on the financial statements, disclosure of key issues, a report on compliance with the requirements of other laws and regulations.

Management Letter
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Contains a list of identified violations and deficiencies that carry the greatest risk to the company; other violations, their potential impact and recommendations for the correction.

Report on the provision of assurance regarding annual reporting data
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Contains a reasonable assurance that annual reporting data are comparable to financial statements and contain information that is required by law and regulations.


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