Legal audit service
legal audit is an consideration of the financial activities of an enterprise for compliance with the requirements of current legislation. The results of the audit will reveal shortcomings in the accounting and legal support of the organization
Legal analysis of the company: main targets
The global goal of conducting a legal analysis of a company is to reduce the risk of claims from both counterparties and the company itself.
In general, the audit allows us to identify a number of the following risks:
- imposing fines or going to court for failure to fulfill contractual obligations
- refusal to fulfill the terms of the contract on the part of counterparties
- signing agreements with unscrupulous partners and suppliers of goods and services
- filing claims from government bodies – the Federal Tax Service, the Federal Antimonopoly Service – and, as a result, reducing the risk of applying sanctions to the company’s governing bodies
- making claims by company employees
Valen lawyers offer comprehensive analysis and audit services with verification of all necessary documents to minimize several possible risks. We also practice an individual approach, which involves auditing certain areas of business, for example, personnel documentation or concluded contracts
Legal audit of the company: timing period
The law does not set deadlines for carrying out due diligence for a company. however, in reality this period is no more than 2-3 months. an increase in the analysis period may be facilitated by the need to request additional documents, including documents from another country
Legal entity audit services include:
- Compliance of the company’s activities with legislation
- Checking the degree of risk and possible sanctions from government authorities
- Identifying potential losses and eliminating the circumstances for their occurrence
- Overcoming problematic issues related to the claims of counterparties, requirements of tax authorities, courts or the Federal Bailiff’s Authority
- Audit of accounting and tax reporting
- Analysis and evaluation of company investment projects
When is a company legal audit carried out, Valen lawyers check the following things:
- Company charter documents
- Licenses, certificates, approvals of a self-regulatory organization (SRO)
- Contracts, acts and invoices for possible risks. this applies to agreements already signed and being developed
- Documents on employees’ work activities
- Accounts receivable audit
- Analysis of legal cases of the enterprise and statements of claim brought against the organization
- Expertise of internal documentation
- Analysis of the company’s website for compliance with legislation
- Analysis of the activities of the company’s counterparties
Legal audit services: when are they required?
Often, a legal audit becomes relevant in anticipation of the purchase of a business in order to check the existing risks of incurring larger and hidden costs than the amount indicated in the contract and investment plan. The experience of Valen specialists shows that before purchasing an organization or company already operating on the market, a legal audit is always required. the lawyer must check the profitability and commercial condition of the enterprise, as well as legal risks associated with litigation, disputes with employees and the presence of requirements from the tax authorities
A business management requires close attention. the fact is that in the course of their activities, the former director or accountant could have committed violations for which the new director will be responsible. their list is quite wide: from fire safety requirements to compliance with tax laws.
A legal audit of a legal entity’s activities is also often ordered to assess potential risks before an inspection by government agencies.
Stages of legal audit
Stage 1. drawing up an audit plan
At this stage, experienced lawyers conduct active oral and written consultations with the client to draw up an action plan and outline the main tasks of the upcoming audit
Stage 2. studying the necessary documents
At this stage, the goal of lawyers is to monitor all processes occurring in the company, their correctness and compliance with the law. documents can be provided to the specialist electronically or on paper. a lawyer can spend from several days to several weeks at this stage
Stage 3. summing up the audit results
At the end, the specialist preparesand provides a report with the results of the inspection, which reflects the work performed, violations identified and recommendations for correcting the situation
Legal audit from Valen company
The main direction of our work is legal consulting. Our lawyers and accountants often deal with a wide range of clients’ legal problems. In order to minimize the risks of arising or aggravating controversial situations, we prefer to accompany business clients at the start of work: from opening a company to supporting large holding projects
Why do clients choose us?
- We work with the most complex legal issues: anti-money laundering, examination of contracts for the purchase of precious metals, drawing up internal local acts
- Our staff consists of experienced and qualified lawyers and accountants who know how to find a way out of the most difficult legal situations
- Favorable terms of cooperation. all financial issues are discussed before starting work, all agreements reached are enshrined in the contract
- Individual approach. We are ready to provide only the services necessary for the client related to the verification of individual documents within one area of work
- It is possible to order services personally for you. At the same time, we accompany the business at all stages, providing audit services on a wide range of emerging issues
- We are not afraid of complex legal issues and are always ready to help businesses with legal audits
How to get a service?
- Choose a service
- Fill in the form
- Our specialists
will contact you
for an initial consultation
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