Financial Audit

We determine the integrity of the company’s financial status; we verify that it complies with the law, and we propose the pertinent improvements.

Financial Due Diligence

At ETL ILIA, we have the financial audit or financial due diligence service. We are experts in the field; we know in depth the keys to business accounts and what is needed to keep them in good condition and control the inflow and outflow of cash.

We take care of the different tasks that make up the audit with professionalism and great detail. We analyse the information provided, review the financial controls used and other aspects to issue a final report. The goal is to determine the integrity of the company’s financial status, verify that it is complying with the law, and propose appropriate improvements.

We have a team of ROAC auditors (affiliated with the Official Register of Account Auditors), so we can perform each audit rigorously, legally and following best practices. We act diligently in each project; we seek to offer you immediate treatment and results that allow your business to grow organically.

Experts in Financial Due Diligence.

We take care of the entire process for your peace of mind.

Tell Us About Your Needs

What does our service consist of?

1. Previous analysis

We analyse all the information present in the annual, semi-annual, or quarterly balance sheets. We check the profit and loss account, the balance sheet, memory, and cash flow statement, which allows us to assess the state of the business.

2. Comparison

The comparison of the interannual data gives us a panoramic image of the evolution of the company over time. The objective is to see what changes have occurred and what are the trends to fully understand the state of the company.

3. Valuation of income and its nature

Knowing the nature of the revenue is a critical part of the audit. We verify that the financial objectives are met, the actions that have been carried out and we propose improvements if necessary.

4. Assessment of expenses and their nature

Expenses are one of the critical parts of a company’s finances, and its control is essential to maximize bottom line profits.

5. Evaluation of the results

Once the pertinent analyses have been carried out, we assess the results obtained. In this way, we can begin to propose solutions to the problems that are present (lack of liquidity, excess debt or diminishing profits) for the final report.

6. Treasury analysis

We review the receipts and payments for the year without considering when the expenses or income that originated from them were accrued. This way, we know the company’s liquidity and if the financial result is being maximised.

7. Detail of the last financial year

We carefully check the last exercise, since it gives us recent information on any problems the company may be experiencing.

8. Final report with conclusions

We record our observations and the corrections that need to be made. We argue each of the proposals based on the analyses carried out and the results they have produced. We help companies show a reliable financial status to their shareholders and the authorities.

Due Diligence or Audit

We take care of the entire process, from the preliminary analysis to the delivery of the report with the conclusions.

1. Financial Audit

Knowing what financial due diligence or an audit is helps us to understand its importance. Knowing the economic health of a company, be it your own or one that is planned to acquire, is essential for different reasons. In addition, having external auditors enhances the results and complies with current regulations.

2. What is a Financial Audit?

A financial audit consists of analysing the financial situation of a company. Your accounting records, cash flows, and other areas that influence your economic status are reviewed. The goal is to analyse the annual accounts. Thus, it is possible to study in-depth and verify the annual accounts. Still, it can also be done for different reasons: analysing a specific area of the organisation or a business line belonging to a subsidiary.

It seeks to guarantee the credibility of a company’s financial data, enhancing its reliability. It is also verified that the accounting standards in force are being adhered to, potential inconsistencies in the data provided and the results, and other information of importance for the organisation, are avoided.

The financial auditor, who must be registered in the official register of account auditors, verifies the results obtained, their validity or verification against the requirements of official bodies. It also performs a monitoring function, checking that the data provided is true and followed by best practices. His training must be solid, something that we fulfil at ETL ILIA.

3. The benefits of a Financial Audit

Financial due diligence contributes to improving financial processes, enhancing control of them. In this way, we increase operational efficiency through a series of actions, always based on the company’s economic reality and to positively impact the future. Something that, in turn, will be noticed in the accounts.

Increasing confidence is another significant benefit. If an audit has verified the state of finances, investors and shareholders will have additional assurance. In addition, it demonstrates that the company intends to improve its finances, maintain strict control, and develop a plan based on the facts to drive results.

Potential fraud is also controlled. Instances of fraud will negatively impact the credibility of the company. Understanding what has allowed fraud to occur and tackling it in time is essential, and it is something that we can achieve with an in-depth audit.

Lastly, failures in financial management that could result in severe and negative repercussions are detected. Detecting such failures makes it possible to establish countermeasures to correct them and prevent their recurrence.

4. Conclusions

At ETL ILIA, we offer a quality financial audit that contributes to the well-being of companies. It is a necessary, beneficial activity that allows you to understand a business’s accounting status fully. Thanks to it, we will take the appropriate measures to solve any problems. We are experts in improving the financial situation of organisations.

A financial audit helps to know the status of a company’s accounts.