Audit
Ensure transparency and trust in your business with expert auditing
At Baker Tilly, we stand out as a leading firm in auditing services, offering a wide range of specialized solutions that go beyond the simple review of financial statements. What sets us apart is our proactive and client-oriented approach, which positions us as a trusted partner for companies across various sectors.
What we do
We provide specialized comprehensive auditing services that go beyond the mere verification of financial statements. Our broad service offering includes external and internal audits, as well as regulatory compliance reviews, giving our clients a comprehensive view of their financial and operational health.
How we do it
We are recognized for our global auditing methodology and our personalized approach, tailored to each client’s specific needs. Our highly trained team uses advanced technologies to carry out efficient and accurate audits, providing strategic recommendations to improve operational efficiency and mitigate risks.
One of the main advantages of Baker Tilly’s audit practice is our closeness and support throughout the entire process, with on-site guidance and direct attention from the partner. This results in greater expertise and swift responses to client matters. We honor our commitments, giving clients confidence in both the outcomes and the timeline for delivery. We communicate honestly and are flexible in achieving goals.
At Baker Tilly, we understand that audits have a social purpose, and that companies issuing audited financial statements have greater business opportunities. This makes us the ideal partner for those seeking a strategic ally for their business success.
Audit and Review of Financial Statements
Our financial statement audits are conducted in full compliance with International Standards on Auditing (ISA). We tailor our audit approach to accommodate other regulations, such as the U.S. Generally Accepted Auditing Standards (US GAAS) and European country regulations.
We also perform reviews of interim financial information, applying either Mexican standards issued by the Instituto Mexicano de Contadores Públicos (Bulletins 9010 and 9020) or international standards issued by the IAASB (ISRE 2400 and 2410).
Our experience allows us to conduct audits or reviews for multinational groups with affiliates in other countries, as well as for Mexican subsidiaries of foreign corporations.
The financial information audited or reviewed may be prepared under Mexican Financial Reporting Standards (NIF) or other frameworks such as IFRS, US GAAP, or German accounting principles, among others, depending on our clients’ reporting requirements.
We issue the Statutory Tax Opinion or assist in the preparation or review of the Tax Status Report (ISSIF) for taxpayers.
Attestation Services
Opinion on compliance with IMSS employer-employee contributions and Infonavit contributions.
Our social security specialists provide a recurring review approach that allows us to support our clients in a timely manner in meeting their labor-related obligations.
Report on compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations for entities in the financial sector.
We have certified professionals accredited by the National Banking and Securities Commission (CNBV) who assist our clients in compliance processes with the authority and in training their compliance officers.
Opinion on compliance with local tax contributions.
Our audit partners are registered to issue opinions in various states in Mexico, enabling our clients to fulfill local tax obligations.
Other attestation services.
Under these professional standards, we can provide reasonable assurance either over specific financial information or compliance with regulatory, contractual, or legal provisions (e.g., CNBV requirements, anti-corruption and good governance standards, contracts or specific operations, internal control, etc.).
We apply either the Mexican IMCP standards (Bulletins Series 7000) or the IAASB international standards (ISAE Series 3000).
Related Services
Agreed-upon procedures.
Sometimes, a financial statement audit does not yield the insights you expect when your interest is focused on specific business process areas such as accounts receivable, inventory management and control, treasury activities, vendors and accounts payable, or fixed asset inventories, among others.
We jointly define the verification or inspection procedures for one or more of these areas and provide you with a detailed report of the resulting findings and observations.
Compilation of financial information.
This may be the right solution when you simply need the preparation of financial statements and related disclosures in accordance with an established accounting framework, without requiring a full audit.
We take the information from your accounting records and assist in its preparation, identifying any potential deviations from the applicable accounting framework and correcting them where necessary.
Other Advisory Services
- Adoption of new accounting standards or pronouncements and determination of their impact on financial information.
- Reconciliation of financial information across different accounting frameworks for reporting purposes in another country or regulatory requirement (NIF vs. IFRS vs. US GAAP).
- Currency conversion for the presentation of financial statements in the functional currency (the currency of the economic environment in which the entity operates), or for reporting purposes in another currency (presentation currency).
- Consultation on the application of specific standards to complex or unusual transactions.
- Assistance in the implementation or documentation of internal control policies and procedures or other similar frameworks.
- Training on the adoption of new accounting standards or general topics related to audit, accounting, and internal control.
