Family foundation audit is a comprehensive advisory and control service, the purpose of which is to assess the compliance of the foundation's operation with the provisions of the law, its statute and the goals specified by the founder. Unlike the classic audit of the financial statement, the audit of a family foundation covers a much wider scope - the analysis covers not only the correctness of bookkeeping and tax settlements, but also the method of managing the foundation's assets and the implementation of private and public law obligations. Our accounting office, in cooperation with auditors, tax advisors and lawyers, offers professional auditing in accordance with the requirements of the Family Foundation Act.
The audit is carried out obligatorily once every four years, however, in the case of a foundation subject to mandatory audit of the financial statement, the audit takes place annually. We offer full support in preparing the foundation for the audit, obtaining and verifying documents and in cooperation with the designated audit team. The scope of the audit includes analysis of the method of conducting permitted activities, implementation of benefits for beneficiaries and identification of potential legal and tax risks, including the area of so-called hidden profits.
We prepare audit reports containing an assessment of the correctness of the foundation's operation from the perspective of compliance with its purpose, internal documents and applicable regulations. Our experience in servicing family foundations allows us not only to meet statutory requirements, but also to propose solutions that increase the security and transparency of the foundation's operations in the long term.
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Katarzyna Byliniak
Director
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Krzysztof Burzynski
Partner, Tax Advisor