A dynamically developing audit company “Ar-Audit” LLP exists only since 1999 and compared to the history of other audit companies, definitely, our company is young, but already quite mature.
The development of an audit in Kazakhstan coincided with a period of global legislative changes and the implementation of accounting reforms. In connection with these facts and many other factors that took place at that moment in Kazakhstan, the relations between the “Auditor-Customer”, first, were established as an “Assistance in Firefighting” in determining tax risks. Customers that contacted the audit companies often saw the protection in their auditors who could defend them in front of the fiscal authorities.
Fortunately, in recent years, the role of an audit in our Republic is growing and an audit is getting closer to its main purpose i.e. to an independent evaluation and confirmation of fair financial reporting. Business owners, potential investors, buyers and other financial institutions who are demanding and competent users of financial statements are the first who have initiated such audits. The auditing procedure is being changed. Now it is not enough to confirm the final reporting in one visit of the auditors, when the balance sheet has been closed. Nowadays customers are ordering an audit consisting of 2 stages, which significantly reduces the possible risks of incorrect reflection of business transactions, and also gives time to eliminate the identified violations during the first stages of the audit.
Based on the analysis of the questions asked by the customers of our company, it is safe to say that today a potential customer is more interested in the audit related services. Meeting the wishes of customers our company significantly extended the range of related services that are compatible with the audit practice.
We would like to assure all our customers, both existing and potential, as well as colleagues and partners, that our company will always be promoting the development of a fair audit in Kazakhstan.