MK Audit: an audit and accounting firm in Ukraine since 2000<\/h1>\n
A full-service audit firm: statutory-style financial audits on request, tax and payroll audits, audits of grants and non-profit organisations, plus bookkeeping and reporting. Ukrainian register of auditors and audit entities No. 4624, member of DFK International. We work remotely across Ukraine and issue reports in English and Ukrainian.<\/p>\n
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- Audit Firm MK Audit LLC, company code 39419346<\/li>\n
- Working since 2000, over 20 years of practice<\/li>\n
- Register of auditors and audit entities No. 4624<\/li>\n
- DFK International member: 200+ firms, 430+ offices, 90+ countries<\/li>\n
- Office at 30 Tarasivska St., Kyiv; work across Ukraine<\/li>\n
- Reports in English and Ukrainian in one package<\/li>\n<\/ul>\n<\/div>\nReply to a request<\/span>1 business day<\/strong><\/div>\nFee<\/span>individual proposal<\/strong><\/div>\n<\/div>\n<\/div>\n<\/section>\n
\n \n\nAudit<\/div>\nAudit services we provide<\/h2>\n<\/div>\n
What separates an audit firm from any other contractor is one thing: the right to sign an audit report comes from the public register, not from experience alone. Below are the areas we run, each with its own page.<\/p>\n
\nFinancial statement audit<\/b><\/p>\nAn independent audit of the financial statements of an LLC or a company, ordered by an owner, bank, investor or buyer. Two to four weeks: financial audit<\/a>.<\/p>\n<\/div>\n
Tax audit<\/b><\/p>\nA review of tax accounting and exposure before the tax office arrives: corporate income tax, VAT, payroll taxes, cross-border operations. You receive a list of risks with amounts: tax audit<\/a>.<\/p>\n<\/div>\n
Payroll and HR audit<\/b><\/p>\nA review of personnel records and payroll calculations before a labour inspection, with a list of what to correct: personnel audit<\/a>.<\/p>\n<\/div>\n
IFRS audit<\/b><\/p>\nAn audit opinion on IFRS financial statements for an investor, a bank, a parent company or a regulator, issued in English and Ukrainian: IFRS audit<\/a>.<\/p>\n<\/div>\n
Grant and non-profit audit<\/b><\/p>\nVerification of donor project expenditure and annual NGO reporting under ISA 800, ISA 805, ISAE 3000 and ISRS 4400: grant audit<\/a>, NGO audit<\/a>.<\/p>\n<\/div>\n
Due diligence and Diia City<\/b><\/p>\nA legal, financial and tax review of a company before an acquisition, and confirmation of compliance with the Diia City regime: due diligence<\/a>, Diia City audit<\/a>.<\/p>\n<\/div>\n<\/div>\n
Separate topics: we check the statutory audit criteria<\/a> free of charge within one day, and what drives the cost of an audit<\/a> is explained on its own page. Full list: audit services<\/a>.<\/p>\n<\/div>\n<\/section>\n
\n \n\nAccounting<\/div>\nBookkeeping and reporting<\/h2>\n<\/div>\n
The second line of the firm is accounting. A separate team keeps the books, and once a quarter an auditor reviews the work, so mistakes are found by the firm rather than by the tax office during an inspection.<\/p>\n
\nAccounting outsourcing<\/b><\/p>\nFull bookkeeping for companies, sole traders and representative offices: source documents, banking, tax and financial reporting, dealing with the tax office: accounting outsourcing<\/a>.<\/p>\n<\/div>\n
Accounting for NGOs and foundations<\/b><\/p>\nGrant accounting by project, donor reports in the format of their budget, non-profit status, humanitarian aid: NGO accounting<\/a>.<\/p>\n<\/div>\n
Payroll and HR<\/b><\/p>\nPayroll calculation, social contribution, personal income tax and military levy, sick leave and holidays, personnel records under the Labour Code: payroll outsourcing<\/a>, HR administration<\/a>.<\/p>\n<\/div>\n
Bookkeeping restoration<\/b><\/p>\nWe bring the books back in order after an accountant leaves or before an inspection: source documents, ledgers, amended returns: bookkeeping restoration<\/a>.<\/p>\n<\/div>\n
Foreign companies and branches<\/b><\/p>\nAccounting for representative offices of non-residents and for foreign-owned companies, reporting to the head office in English: representative office accounting<\/a>, accounting for foreign companies<\/a>.<\/p>\n<\/div>\n
IFRS, iXBRL and transfer pricing<\/b><\/p>\nIFRS bookkeeping and transformation, filing in iXBRL, the controlled transactions report and transfer pricing documentation: IFRS accounting<\/a>, iXBRL<\/a>, transfer pricing<\/a>.<\/p>\n<\/div>\n<\/div>\n
What the monthly fee depends on and what a retainer covers: how much accounting services cost<\/a>.<\/p>\n<\/div>\n<\/section>\n
\n \n\nWorth knowing<\/div>\nAudit and accounting under one roof: how it works<\/h2>\n<\/div>\n
\nThe independence rule<\/b><\/p>\nAn auditor cannot audit the books they keep themselves. For any single client we therefore provide either the audit or the bookkeeping, and this is written into the contract. We do not sell both services to the same company.<\/p>\n<\/div>\n
What it gives an accounting client<\/b><\/p>\nThe books are kept by a team that sees every day what auditors actually raise. Once a quarter an auditor of the firm reviews the work and writes to the manager. If an audit is needed later, we help prepare the documents for another firm.<\/p>\n<\/div>\n
What it gives an audit client<\/b><\/p>\nWe know how a finance department works from the inside, so questions come during the fieldwork rather than at the end. The client still has time to find documents and fix the books before the report is signed.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n
\n \n\nHow to choose<\/div>\nSix things to check in an audit firm<\/h2>\n<\/div>\n
These points work for any firm, not only for us. Twenty minutes of checking removes most of the risk.<\/p>\n
\n01. The register entry and the right section<\/b><\/p>\nThe register of auditors and audit entities is public. Look not only for the firm itself but for the section: the right to perform statutory audits and audits of public interest entities come from different sections.<\/p>\n<\/div>\n
02. A valid quality control review<\/b><\/p>\nFirms go through it periodically, and it is what confirms the right to perform statutory audits. Ask directly when the last one was and what the outcome was.<\/p>\n<\/div>\n
03. Experience in your exact situation<\/b><\/p>\nAn EU grant audit, an LLC audit and an insurer audit are three different jobs. Ask for examples of the same type of engagement, even without client names.<\/p>\n<\/div>\n
04. The language of the report<\/b><\/p>\nIf the report goes to a donor, a foreign shareholder or a group auditor, English is mandatory. Settle this before the contract, not after.<\/p>\n<\/div>\n
05. Who will actually do the work<\/b><\/p>\nSometimes a partner signs the contract while a subcontractor does the fieldwork. Ask for the names and certificates of the people who will do the job.<\/p>\n<\/div>\n
06. The deadline and what happens if it slips<\/b><\/p>\nThe deadline belongs in the contract, together with what happens if it is missed. A verbal agreement about a deadline is not an agreement.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n
\n \n\nStraight answer<\/div>\nWhat we do and what we do not<\/h2>\n<\/div>\n
\nYes, our engagements<\/b><\/p>\nAudits of grants and donor projects under ISA 800, ISA 805, ISAE 3000 and agreed-upon procedures under ISRS 4400. Voluntary financial audits for owners, banks and buyers. Tax and personnel audits. IFRS audits. Review engagements under ISRE 2400<\/a> and compilation under ISRS 4410<\/a>. Bookkeeping, payroll, HR, IFRS, iXBRL, transfer pricing and legal support.<\/p>\n<\/div>\n
No, what we do not take on<\/b><\/p>\nWe do not currently perform statutory audits of financial statements while our quality control review is in progress. If that is your case, we say so in the first call and explain how to check another firm. We verify the statutory audit criteria<\/a> free of charge within one day.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n
\n \n\nDeliverables<\/div>\nWhat an audit firm actually issues<\/h2>\n<\/div>\n
\nAudit report under ISA 800 and ISA 805<\/b><\/p>\nFor special purpose statements and single elements: a project expenditure report, a grant utilisation report, one accounting area. The most common format for donors and shareholders.<\/p>\n<\/div>\n
Report of factual findings under ISRS 4400<\/b><\/p>\nAgreed-upon procedures: the donor or bank sets the list of checks, we perform them and describe the result for each. No opinion is expressed, but the facts are specific.<\/p>\n<\/div>\n
Assurance report under ISAE 3000<\/b><\/p>\nFor non-financial information and systems: compliance with donor rules, internal control, individual indicators that an independent party has to confirm.<\/p>\n<\/div>\n
Review under ISRE 2400<\/b><\/p>\nLimited assurance instead of a full audit, when a bank or partner wants confirmed statements and the law does not require an audit. Cheaper and faster.<\/p>\n<\/div>\n
Compilation under ISRS 4410<\/b><\/p>\nPreparation of financial statements from the client data, when an IFRS or group format package is needed and there is no in-house specialist.<\/p>\n<\/div>\n
Management letter<\/b><\/p>\nAttached to any engagement: findings in plain words, a risk assessment and what to do about each one. In English and Ukrainian.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n
\n \n\nHow we work<\/div>\nFrom request to report<\/h2>\n<\/div>\n
\n01<\/b>Request and proposal in 1 day<\/strong><\/p>\nWe clarify who the report is for, the period and the scope, and send a written proposal with a plan and a deadline.<\/p>\n<\/div>\n
02<\/b>Contract and checklist<\/strong><\/p>\nA list of documents by area, secure file exchange and a confidentiality clause in the contract.<\/p>\n<\/div>\n
03<\/b>Remote fieldwork<\/strong><\/p>\nMost engagements run without a site visit, anywhere in Ukraine. Questions come during the work so the client has time to find documents.<\/p>\n<\/div>\n
04<\/b>Report and walkthrough<\/strong><\/p>\nThe report in two languages, a management letter and a call where we explain every finding and answer the donor or shareholder.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n
\n \n\nWho we work with<\/div>\nClients of the firm<\/h2>\n<\/div>\n
\nNGOs and charitable foundations<\/b><\/p>\nGrant audits, verification of how funds were used, annual NGO reporting, preparation for a donor review. Among the organisations that recommend us are the International HIV\/AIDS Alliance in Ukraine and the Centre for Democracy and Rule of Law.<\/p>\n<\/div>\n
Representative offices and subsidiaries of foreign groups<\/b><\/p>\nVoluntary audits for the shareholder, reporting in English in the group format, bookkeeping and payroll: accounting for foreign companies<\/a>.<\/p>\n<\/div>\n
Companies and sole traders<\/b><\/p>\nAn audit before a change of accountant or director, tax and personnel audits, bookkeeping restoration: financial audit of a company<\/a>.<\/p>\n<\/div>\n
IT companies and Diia City residents<\/b><\/p>\nConfirmation of compliance with the regime, review of payroll and gig contracts, a report for a foreign investor: Diia City resident audit<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n
\n \n\n\n\nFAQ<\/div>\nQuestions about the firm<\/h2>\n<\/div>\n
\n\nWhat does an audit firm do?<\/summary>\n
It examines financial information prepared by someone else and issues a document that third parties trust: a bank, an investor, a donor, a buyer, a parent company. An audit ends with an audit report carrying an opinion, agreed-upon procedures end with a report of factual findings, a review ends with limited assurance. Beyond audit, a firm may keep the books and advise on accounting, tax and reporting.<\/p>\n<\/details>\n
\nHow is an audit firm different from an accounting firm?<\/summary>\n
An audit firm is listed in the register of auditors and audit entities and may issue audit reports that donors, banks and state bodies accept. An accounting firm keeps the books but cannot confirm someone else financial statements. We do both, but under the independence rules we provide either the bookkeeping or the audit to any single client.<\/p>\n<\/details>\n
\nHow much does an audit cost?<\/summary>\n
Nobody publishes a price list, because two companies with the same turnover can differ twofold in effort. The fee depends on the volume of transactions, the number of accounting areas, the state of the source documents, the report format and the deadline. We give a preliminary estimate after a short call and a written proposal within one business day. More: what drives the cost of an audit<\/a>.<\/p>\n<\/details>\n
\nIs an audit mandatory for a Ukrainian company?<\/summary>\n