The financial reporting needs of every business are not limited to standard legislation. Sometimes a loan agreement, sometimes a lease contract, or a grant project necessitates a special audit study. As Alinda Independent Audit, we offer flexible and focused ‘Special Purpose Audit’ services compliant with the specific frameworks determined by your business or stakeholders.
What is a Special Purpose Audit?
Unlike general-purpose financial statements (standard statements covering the entire business), it is the process of auditing a specific account, a particular section of a financial statement, or a specific contract condition. These audits are conducted within the framework of ISA 800 and ISA 805 (International Standards on Auditing), and the results are addressed only to the users of the relevant report (banks, lessors, partners, etc.).
In Which Situations is it Preferred?
As Alinda Independent Audit, we provide special reporting in the following areas for the differing needs of businesses:
Turnover Audit (For Lease Determination): Verification of the turnover of stores operating in shopping malls (AVM) or airports, which serves as the basis for determining the lease amount.
Compliance Audit for Loan Agreements (Covenant Audit): Determining whether the financial ratio commitments included in loan agreements made with banks are being complied with.
Grant and Fund Audits: Auditing whether funds provided by the European Union, TÜBİTAK, or Development Agencies are spent in accordance with project rules.
Audit of Individual Account Items: Detailed examination of only inventories, receivables, or a specific expense item.
Reconciliation Procedures: Independent execution of balance and transaction reconciliations between the business and its commercial partners (dealers, suppliers, etc.).
The Alinda Independent Audit Difference
Special purpose audits, unlike standard audits, require a ‘tailor-made’ approach.
Focus on Need: We provide time and cost savings by limiting the scope of the audit to only the areas needed by you and the party requesting the report.
Fast Solution: Since it is a more focused study compared to standard processes, we complete the reporting process quickly.
High Standards: Although the scope of the report may be narrow, we never compromise on our audit quality or international standards (ISA).
Whether it is a turnover report to be submitted to shopping mall management or a ratio analysis for your bank, Alinda Independent Audit is by your side with its technical competence.