Audit correct

About Us

Audit Correct Ltd. was established in 1997 as auditing and consulting company. The company has been successfully working with leading Bulgarian and international companies in strategic industries for over 14 years.

Audit Correct Ltd. was established in 1997 as auditing and consulting company.

 

Our leaders:

 

Managing partner: Rositsa Trichkova CPA (Certified Public Accountant) and registered auditor since 1992. She is responsible for the strategic development of all activities of Audit Correct Ltd. in Bulgaria.

1. Member of the Bulgarian Institute of Certified Public Accountants (ICPA) since 1992 and of the Auditing Services Quality Control Board at ICPA Bulgaria since 2008 to present

2. Member of the Chamber of Independent evaluators in Bulgaria since 2009 to present

3. Member of the Chamber of Tax advisors in Bulgaria, coordinator for the city of Sofia, since 2006 to present

4. Member of Auditing Committee of National Railway Infrastructure Company (NRIC) – 2008 – 2010

5. Member of Auditing Committee of Stolichen Elektrotransport EAD  (Public Electrical Transport Company) – since 2009 to present

 

Lecturer – Chief Assistant in Accounting and Analysis at Chair  „Accounting” of the Higher Economic Institute Karl Marx (UNWE – University of National and World Economy) with lectures and seminars in:

  • General theory of Accounting – subject  International Economic Relations (IER)
  • Banks and Budget Organizations Accounting – subjects Finance and Accounting and Accounting Control
  • Foreign Trade Organizations Accounting – subject IER
  • Analysis of foreign trade activity – subject IER

 

Managing partner: Stefan Solakov CPA and registered auditor since 2009. He is responsible for the conduct of many audits and a Tax Consulting Team Leader.  Assistant auditor since 2005.  More than 12 years professional experience in the field of accounting of companies of different branches.

He is responsible for the Quality Control within the Company and is representative of the Quality Management Board for implementing of Quality Management Standard ISO 9001:2008.

 

Audit Correct Ltd. main business values include:

  • protection of client interests and strict adherence to professional ethics
  • consistent delivery of high-quality professional services regardless of commercial benefit or other reasons
  • minimizing professional risk. Taking responsibility for professional errors. Recognition of professional errors and ensured realization of client rights to obtain appropriate compensation
  • integrity and openness in relations with customers. Refusal to undertake assignments if they could lead to a conflict of interest and/or are beyond the scope of professional competence, and/or cannot be fulfilled because of other constraints.

 

Audit Correct Ltd. main competitive advantages are:

  • rendering high-quality integrated professional services in compliance with Bulgarian and international standards
  • extensive product line with strong professional expertise in tax and legal advice, IFRS services
  • impeccable business reputation
  • experience in working with international companies and financial institutions
  • the highest standards in corporate culture, technology, techniques, quality standards and staff compliant with market requirements.

 

Our philosophy of serving clients

 

Audit Correct Ltd. management cares deeply about ensuring required and adequate guarantees to our customers.
Our Company therefore observes statutory requirements and restrictions laid down by current Bulgarian legislation and International Standards on Auditing, as well as the performance criteria of professional associations and our own corporate standards.
The Company also strictly observes professional principles of ethics in its everyday operations.

 

Independence.

Audit Correct Ltd. is an independent company. We have adopted instructions and standards ensuring staff independence in delivering our professional services. Our audit and consulting businesses are separated from each other organizationally.

 

Integrity, impartiality.

Our lack of affiliation guarantees our customers an impartial, unbiased and independent approach when addressing all professional issues, making judgments and reaching conclusions.

 

Confidentiality.

Audit Correct Ltd. strictly follows the principle of confidentiality.

 

 

Organizational structure

Audit Correct Ltd. is organized into 4 departments providing audit and consulting and legal and valuation services:

 

 

1. Audit services

№ Department Area

General Audit Department
- Audit services
- Audit-related bookkeeping and tax accounting advisory services

International Reporting Department
- Audit of IFRS-compliant financial statements
- Consultancy on preparing financial statements under IFRS

 

2. Consulting services

№ Department Area

Project solutions


- Modernizing accounting systems and their elements while implementing corporate management systems
- Elaborating methodologies for reducing the time needed for reporting compilation
- Reorganizing the accounting function while restructuring and/or extending business
- Accounting outsourcing, accounting reconstruction
- Evaluating the efficiency of the accounting function in holdings
- Evaluating and enhancing internal control systems
- Advisory in accounting and compiling reporting
- Services in strategic consulting.
- Macroeconomic research
- Diagnostics of business and financial performance
- Conduct of pre-investment studies (Due Diligence)
- Reorganizing holding structures
- Marketing research
- Cost management
- Business planning services
- Corporate finance services, M&A transactions
- Consulting support on private offers
- Consultancy on greenfield projects
- Services in project financing, including attracting project finance, private public partnership projects
- Capital markets (consulting on minority interest)

 

3. Legal services

№ Department Area

3.1. Tax and Legal Department
- Tax advice
- Tax litigation
- Corporate practice
- Financial investigations
- Forensic inquiries

 

4. Valuation services

№ Department Area

4.1. Valuation Department
- Business valuation
- Valuation for IFRS and US GAAP reporting
- Intangible assets valuation
- Real estate and movable assets valuation
- Asset revaluation in compliance with RAS