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Foreign representations auditing

In the context of economy globalisation and in a bid to enter international markets companies expand their activities outside the boundaries of the country.

Like the principal company, foreign representations need professional auditing. Its purpose is an analysis of the current state of the structural unit (whole or broken down in separate areas of work activities, such as accounting, taxes, managerial tasks, due diligence, identifying violations, preparing recommendations for their elimination and prevention in the future.

AUDITING BY "ROSCO" EMPLOYEES

In addition to internal audits conducted by the parent company, there are external audits. It is advisable to place
an order for auditing branches and representations of foreign companies, carrying out their activities in any areas,
in "RosCo". The company offers a package of services on a turnkey basis or for separate business directions.

Our experts will check the fairness of accounting, correctness of records keeping, legality of conducted business
activities, evaluate viability of foreign company representation.

These actions may be required during preparation for regulatory authorities checks or in the process of current
business activities with the purpose of improvement of its effectiveness, early identification of errors and their
prevention in the future.

Branches and representations audit includes:

  • legal analysis of processes to determine whether
    they comply to the legislation;

  • checking calculations of employees payments and their
    compliance with the norms of the labor legislation;

  • working with accounting documentation in terms of its
    correct preparation;

  • tax deductions applicability confirmation, accuracy
    of tax status determination and rates application.

During the audit of foreign representations it is possible to assess their viability,
exclude dual taxation (in case there are acting agreements between the countries) and so on.

"RosCo" experts perform all actions with minimal engagement of company employees.
Foreign representation personnel can focus on specialized tasks solution and, what is
most important, get valuable recommendations concerning effective development
of further activities.

ADVANTAGES OF COOPERATION

Audit is conducted by specialists who have many years of experience, faultless knowledge
of the Russian and foreign legislation, including International Financial Reporting Standards.

"RosCo" is included in the list of "100 best enterprises and organizations of Russia",
it is a member of many professional organizations and is present on the market since 2004.

We guarantee:

  • high effectiveness of auditing branches and representations in cases when it is
    necessary to prepare urgently for upcoming checks;

  • high level of service;

  • competitive prices for the services;

  • basic and comprehensive auditing branches and representations taking into
    account specific characteristics of their activities;

  • full compliance with the legislation;

  • commitment to enhancement of activity efficiency;

  • accompanying and professional support in key activities directions of the
    company and its branches, whether bookkeeping, reports preparation,
    tax base optimization or jurisprudence.

General information about the SME Register
General information about the SME Register
May a company, which the foreign companies are members to, be entered into the SME Register (the register of small and medium-sized enterprises) and on what conditions? Today we’ll discuss that in this video. First of all, it should be noted that the SME Register is organized by tax authorities, and a list of companies entered into the register may be found on the official website of the Federal Tax Service: https://ofd.nalog.ru. Small and medium-sized enterprises include companies and individual entrepreneurs that meet certain restrictions on the structure of the authorized capital and also if: - the average staff number is not more than 100 persons and income is not more than 800 million rubles (for small enterprises); - the average staff number is no more than 250 persons and income is no more than 2 billion rubles (for medium-sized enterprises). On December 1, 2018, the amendments made to Law No 209-FZ were entered into force. The point is that Russian companies with a share of foreign capital exceeding 49% may also obtain SME status if the company’s foreign members: - gained an income from their business activities not exceeding 2 billion rubles during the previous calendar year; - had the average staff number not exceeding 250 persons during the previous calendar year; - a state of permanent residence of foreign member of the Russian company shall not be the Offshore areas*(a list of offshore areas is established by the Ministry of Finance). If the share of foreign members in the Russian company does not exceed 49%, then such a requirement is not imposed for the purpose of designating as SME. What is a purpose of the register? A company may rely on a number of privileges if it is entered into the SME Register. Among them are: - Ensuring the implementation of “supervisory holidays” for SME; - Special tax regimes - Simplified tax and accounting rules - Simplified forms of accounting and statistical reporting, tax returns for individual taxes and fees; - Simplified procedure for conducting cash transactions; SMEs may not set a cash limit. - Privileged payment procedure for state and municipal property privatized by small and medium enterprises. During the coronavirus pandemic, the importance of entering the company into the SME Registry increased For example, in order to receive a subsidy for the salary with the Statutory Minimum Wage Index equal to 1, a company (among other requirements) must be entered into the SME Register. The so-called “credit holidays” apply to companies that are performing their activities in sectors most affected by coronavirus and are also entered into the SME Register. RosCo – entrust your business to professionals! YouTube - https://www.youtube.com/c/RosCoConsul... Facebook - https://www.facebook.com/roscoaudit/ ЯндексДзен - https://zen.yandex.ru/id/5b84df3fa459... Instagram - https://www.instagram.com/rosco_consu... https://rosco.su/
What do you need for accreditation of a foreign representative office? (part2)
Opening their branches in Russia, many of foreign companies prepare the necessary documents on their own. They often get a denial of accreditation because of the finer points. To avoid such troubles, you should take into account not only the requirements of the Order of the Federal Tax Service on accreditation of branches and representative offices, but also the general principles for preparing documents. See more in our video. 1. Data check 2. Legalization of a document 3. Translation of documents 4. Application for accreditation RosCo – entrust your business to professionals! YouTube - https://www.youtube.com/c/RosCoConsul... Facebook - https://www.facebook.com/roscoaudit/ ЯндексДзен - https://zen.yandex.ru/id/5b84df3fa459... Instagram - https://www.instagram.com/rosco_consu... https://rosco.su/
What do you need for accreditation of a foreign representative office?
Opening their branches in Russia, many of foreign companies prepare the necessary documents on their own. They often get a denial of accreditation because of the finer points. To avoid such troubles, you should take into account not only the requirements of the Order of the Federal Tax Service on accreditation of branches and representative offices, but also the general principles for preparing documents. See more in our video. 1.Originals or copies 2.Where can you get the document 3.Terms of issue RosCo – entrust your business to professionals! YouTube - https://www.youtube.com/c/RosCoConsul... Facebook - https://www.facebook.com/roscoaudit/ ЯндексДзен - https://zen.yandex.ru/id/5b84df3fa459... Instagram - https://www.instagram.com/rosco_consu... https://rosco.su/
ORDER SERVICE "Foreign representations auditing"
 
Date of foundation
company «ROSCO»
2004
Membership in professional organizations:
SRO NP «Audit Chamber of Russia»
(Certificate No 1809 dated 28.12.2009)
Chamber of Tax
Consultants
(Certificate No 78)
NP «Partnership of RSE»
(Russian Society of Evaluators)
Membership in public association:
Moscow Chamber
of Commerce and Industry
(Certificate No 123-973 dated 21.12.2009)
Non-Profit
Partnership of Turkish Entrepreneurs (RTIB)
Ratings:
A++1+++1++[%]
(as per the results of 2009 -
А++1+++1+[%])
Company
is included in the register of reliable enterprises of Moscow
Certificates of conformity:
Certificate of conformity to the requirements of GOST R ISO 9001-2008 (ISO 9001:2008)
Professional
liability
is insured