Audit

Financial and Tax Audit

This audit is a very useful tool on several team levels and for purposes such as investment, credit, tax and legal compliance, among others, as well as to comply with the Statutory Tax Report (SIPRED, in Spanish), in case required.

IMSS, INFONAVIT and State Tax Audit

This service supports companies in complying with legal obligations stemming from the Mexican Social Security Institute (IMSS, its acronym in Spanish) and the National Workers’ Housing Fund (Infonavit, its acronym in Spanish). This audit is carried out to identify possible inconsistencies or non-compliances with IMSS- and INFONAVIT-related fees, retentions and contributions.

We also carry out audits regarding compliance with state tax obligations, specifically with respect to proper payment to various state-level entities. Note that in some states audited tax reports are compulsory.

Internal Financial Information Controls (SOX)

We help mitigate risk from error or fraud in financial information and to comply with requirements from headquarters regarding the design and implementation of controls further to the Sarbanes-Oxley Act (SOX), which may include any of the following aspects:

Readiness: elaboration of specific work programs for each of the primary business cycles, development of policies and procedures.

Training: accounting, finance and administration teams, and annual training of the internal audit department.

Application of COSO methodology.

Risk assessments.

Design of a control system to mitigate risks.

Risk matrices.

Assurance and Agreed-Upon Procedure Reports

We can carry out any revision and include its corresponding assurance report based on Assurance Standards, including reports on Agreed-Upon Procedures, the Certification for Capitalization of Liabilities and Specific Information of Financial Statements.

First-Time Adoption of International Financial Reporting Standards (IFRS)

We can carry out a diagnosis on the proper implementation of the International Financial Reporting Standards (IFRS) at the time of its adoption based on IFRS 1.

Preparation for Tax Audit and Filling Out of The Tax Situation Informative Return (ISSIF) and the Statutory Tax Report (SIPRED)

We help our clients get ready for a tax and financial audit process through the preparation of working files and documents for the timely delivery to auditors.

Likewise, we help our clients fill out of the SIPRED and ISSIF annexes of entities that are required to comply with this obligation under the terms of the Federal Tax Code.

Complex accounting

Our service consists of accurately helping you to recognize the financial impact that could arise from unusual transactions or transactions outside an entity’s normal course of operation.

In other words, we help our clients to document any type of situation or transaction that could have an impact on its financial information based on the applicable legal accounting framework.

Environmental, Social and Corporate Governance (ESG)

Several countries and supranational entities such as the United States, Australia, Canada, United Kingdom, Japan and the European Union have put in place laws and regulations regarding ESG practices. In Mexico there exists no legal obligation on this front.

On June 26, 2023, the International Sustainability Standards Board (ISSB) issued its first two IFRS Sustainability Disclosure Standards (NIIF-S1 and NIIF-S2). This marks the beginning of a whole new era of disclosure requirements regarding sustainability in global capital markets.

The Mexican Council on Financial Information Standards (CINIF, its acronym in Spanish) has already established a strategy for the phasing-in of disclosure requirements established in NIIF S1 and NIIF S2, which will be obligatory for NON-public entities in Mexico.

In this respect, our service consists of working together with our allies at Praxity to guide clients in the gathering of the necessary data on ESG measures and policies. Likewise, we can advice on how to prepare the final report for stakeholders as well as provide guidance on the process to manage ESG data in the future, including in those areas in which it is planning to expand. Be it that you are considering implementing ESG controls or that you already have a structure in place, we can support to you in developing a strategic program that is configured to deliver sustained value every year.

Audit

Financial and Tax Audit

Financial and Tax Audit

IMSS, INFONAVIT and State Tax Audit

IMSS, INFONAVIT and State Tax Audit

Internal Financial Information Controls (SOX)

Internal Financial Information Controls (SOX)

Assurance and Agreed-Upon Procedure Reports

Assurance and Agreed-Upon Procedure Reports

First-Time Adoption of International Financial Reporting Standards (IFRS)

First-Time Adoption of International Financial Reporting Standards (IFRS)

Preparation for Tax Audit and Filling Out of The Tax Situation Informative Return (ISSIF) and the Statutory Tax Report (SIPRED)

Preparation for Tax Audit and Filling Out of The Tax Situation Informative Return (ISSIF) and the Statutory Tax Report (SIPRED)

Complex accounting

Complex accounting

Environmental, Social and Corporate Governance (ESG)

Environmental, Social and Corporate Governance (ESG)

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