AuditiA's auditing team carries out audits in various Spanish offices for foreign groups. They work to the dates required by the central office, including prior to the closing of the year. They work around hardclosings. They work closely with the group's auditors, complete the forms required correctly and on time, work in the offices and share personally the conclusions they reach when the subsidiary is key to their objectives. They know the accounting and international auditing regulations and their service allows the central office to give a fast, complete and certain response. We have worked with groups from North America, England, France, Italy and Switzerland and with the principal auditing firms throughout the world.
Specialties
Subsidiaries of foreign companies
Spain is a country which has 46 million consumers with a strategic geographical situation which makes is an ideal platform for international businesses. From our country, companies can reach 1.3 billion potential consumers in markets in the EMEA region (Europe, Middle East and Africa) and especially in Latin America with which Spain shares some cultural and economic ties. A foreign investor in Spain will find excellent transport, energy and telecommunications infrastructures and a labour market which combined a young, highly-qualified workforce with competitive labour costs. The country also offers an efficient industrial framework capable of supporting and complementing large projects.
In addition to this, Spain offers exceptional quality of life, full of top-quality educational, cultural, leisure and sports opportunities.
It is not unusual, then, that so many multinational medium-sized and large companies see Spain as an area for implementation and expansion.
AUDITIA has a long history of supporting international groups in Spain, providing services to their subsidiaries and easing communication with the central office. Our company's professionals offer services in English, French and Italian and our capacity and quality of service is also guaranteed by our membership in the international association of independent firms, PrimeGlobal.
The services most often requested by our clients in this area are as follows:
Auditing of Spanish offices' annual accounts belonging to foreign companies
Reporting to the central office
Even when the subsidiary does not need to be audited, it must regularly report the economic and financial situation to the central office, as well as its operations, predictions and the principal decisions made. Our professional experts collaborate with the subsidiary managers to create these periodic economic and financial reports required by the central office and their internal control teams, prepare intermediate and final financial statements as per the group's or international regulations, make the necessary adjustments, complete the models, create the predicted result accounts and the financial predictions, the evolution of the funds' operational needs and capital requirements, and ratios including working capital, EBITDA or CAPEX.
Reporting to the external group's controller or auditors
In the same way, even when a subsidiary does not need to be audited, the central office's controllers or auditors usually require the completion of a consolidation package which includes the data needed to perform accounting in the central office in order to have available more detailed information or evaluate risks. Our teams' experience allows us to provide this information effectively and efficiently meeting all requirements at the correct moment.
Preparation of financial statements under international or group-specific regulations
When the subsidiary does not report regularly or occasionally on corporate transactions, the financial statements created must be adapted according to Spanish, international, the group's standard or the central office's country's regulations. Our international accountancy regulations experts prepare the financial statements following the appropriate regulations making all necessary adjustments, justifying and conciliating them between both financial statements, providing all information necessary to monitor the differences in later adjustments.
Creation of subsidiaries
Creation of commercial companies in agreement with Spanish regulations with provision of capital from a company based abroad with a different legal status from the central office's. Our commercial experts fully understand the procedure for constituting Spanish companies and the requirements necessary when the owner is a non-resident. They adapt the new subsidiary's statutes to the needs and interests of the group, anticipate the requirements which may arise, prepare the documentation and organise the procedure to ensure that the subsidiary can be created easily and can be operational quickly and securely.
Continuous professional consultancy for the central office
Our experts in each area provide specialist technical advice to the subsidiary's and central office's managers as regards the accounting, commercial, tax and labour legislation in force in Spain and the best appropriate policies.