Audit & Assurance
Our Audit and Assurance department focuses on the control and certification of your financial accounting. Verification and certification provide insight into the way your company is realizing its goals and managing its risks. Besides that we provide valuable business advice. And of course our accountants and advisors apply the highest official standards when it comes to quality, integrity and independence.
If you would like to know more about our services please feel free to contact us directly.
Audits
Our audit is focused on certifying the annual financial statements of your company. Besides that the audit ultimately provides a management letter and/or accountants-report. The issues brought forth in this report concern the assessment of business risks, the evaluation of your administrative organization and your internal measures of control. Our report can also contain a description of possible IT risks.
Financial reporting
On the former islands of the Dutch Caribbean companies set up their annual statements in accordance with applicable rules and regulations. In Curacao, Bonaire and St. Maarten these rules and regulations are recorded in the Civil Code. However, for Aruba there are no legal formulated rules. For companies for which rules and regulations are not applicable, BDO generally maintains the Dutch standards, known as the ‘Richtlijnen voor de Jaarverslaglegging’
As the markets globalize the need for more uniform guidelines concerning financial reporting is growing. Traditionally these guidelines differ per country, which makes annual statements of companies across borders difficult to compare. During the last years the International Financial Reporting Standards (IFRS) have advanced greatly and have been made mandatory for big companies in the Dutch Caribbean, with the exception of private companies. Ultimately IFRS has a good chance of becoming the world standard for financial reporting.
Small firms also increasingly base their annual statements on IFRS, because national rules and regulations, also in the Dutch Caribbean, want to coincide more strongly with the IFRS. BDO accountants have extensive expertise in the area of IFRS and our national rules and regulations.
Advisory Services
Besides auditing and financial reporting BDO gladly supports you with other services as well such as
- Efficient administrative processes
- Effective internal controls
- Effective structuring of the financial function
- The right financial structure for your company
- Budget and estimate processes
- The quality of your management information
Corporate Governance
Due to increasingly stringent control laws, the corporate governance model has gained growing importance. Your Stakeholders expect transparency when it concerns business strategy, abiding rules and regulations and providing an independent audit.
Good corporate governance ultimately gives stakeholders more confidence, strengthens your competitive abilities, provides more effective business reporting and lowers business risks. This gives your company a better base for its strategic decisions and also leads to a stronger financial position. It is important for your company to win confidence. You can realize this by providing good management, risk control and communication concerning these issues. Good corporate governance puts the company’s interests first and enables you to achieve your goals in the near and far future as well.
Our specialists at BDO have in-depth and longstanding experience in these matters and will gladly supply your company with advice and support.
