VAT recovery

We help local government units recover input VAT (i.e. the tax resulting from purchase invoices received from suppliers and contractors) paid within the last 5 years. Our services include (i) identification of areas / expenses for which VAT can be recovered and (ii) practical support in the recovery process (in the safest possible manner for the given local government unit).

The ability to recover VAT typically includes two areas of a local government unit’s operations, namely

the investment area – which covers all sorts of investments made by a given unit – and the current expenses area.

VAT-based investment planning

We assist local government units in the process of planning ongoing and future investment efforts so as to ensure the highest effectiveness in terms of VAT settlements.

Taking appropriate actions enables ongoing recovery of VAT resulting from the invoices received from suppliers and contractors, which in turns improves liquidity of a given unit and increases the amount of available funds.

Internal audit

We offer you internal audit services compliant with internal audit standards for the public finance sector units set forth in Announcement No. 4 of the Minister of Finance of 20th May 2011. We have many years of experience in conducting internal audits and our company meets the requirements set forth in Section 279.1 of the Public Finance Act. In particular, we propose the following:

Drawing up an internal audit sheet, a code of ethics, and rules and procedures of internal audit.

Preparing an annual internal audit plan based on risk assessment and the management’s opinion.

Carrying out audit tasks aimed at improving risk management processes, internal control and effectiveness of operations.

Verifying the implementation of audit recommendations.

Management control

We offer you assistance in all stages of implementing and exercising management control in accordance with the standards set forth in Announcement No. 23 of the Minister of Finance of 26th December 2009 concerning management control standards for the public finance sector. This includes, in particular, the development and implementation of:

  • internal environment;
  • risk management system;
  • management control mechanisms;
  • information and communication system;
  • mechanisms of monitoring and assessing the management control system.

E-risk – the risk management software

In order to effectively exercise management control, we offer you an end-to-end consulting service combined with the implementation of e-risk, a proprietary IT system supporting the risk management process. E-risk will help you identify, analyse and monitor the risk associated with your business. It is a flexible tool allowing for implementing any risk management methodology in one or more areas of an organisation’s operations. E-risk ensures a fast flow of information by providing real-time risk data directly to stakeholders without the need to keep hardcopy documentation.

Analysis of compliance of IT systems with the Accounting Act

Our work in this area consists of two elements: analysis of documentation and entries and system analysis. As part of the first element, we will check the IT technology for processing accounting data in an accounting system of your choice, consisting, among others, in controlling the continuity of entries and event classification; documenting and ordering the entries based on classification criteria; entering evidence according to the assumed quality level; controlling the completeness of system sets and data processing parameters; access to data sets, procedures, and algorithms; fulfilling requirements for accounting evidence generated electronically; control mechanisms in an IT system. As part of system analysis, we will review the description of the IT system in terms of compliance with the Accounting Act while taking into account the following elements of its operation: environment, list of sets, structures, dependencies, and security; control of sub-ledger entries; correctness of system description and documentation; control of system operation procedures; review of control mechanisms of the reporting subsytem; assessment of authentication mechanisms. Our works will result in detailed reports including our observations and recommendations. At your request, we can help you implement our recommendations.

Assessment of reliability and security of financial data processed in IT systems

As part of these extremely important works for your organisation, we will analyse the documentation (policies, procedures and instructions related to the security of IT systems), audit of IT organisational security, and assessment of security of IT systems which process financial data. Special attention will be paid to identifying external requirements for information security (e.g. client agreements, legal requirements). The IT organisational audit will be complemented by an analysis of security measures applied to your financial systems. Analysis results will be used for assessing whether the current configuration of IT systems ensures the required level of confidentiality and integrity of financial data. The effect of the performed works will be provided to you in the form of a clear and detailed report containing a summary of the individual stages of the works.

We help local government units in claiming reimbursement for input VAT (that is, VAT taxation resulting from purchase invoices received from suppliers and contractors) paid in the last 5 years. Our services include (i) identification of the areas / expenses where VAT reimbursement can be claimed and (ii) practical support in the tax reimbursement process (in a way that is possibly the most secure for a given local government unit).

Usually, VAT reimbursement can be claimed in two areas of local government unit operation, that is:

  • investments – including various types of investments made by the given unit and
  • current expenses of the given unit.

We help local government units in the process of planning current and future investment actions in a way that is the most efficient from the VAT settlement perspective.

Taking appropriate actions makes it possible to maintain on-going VAT reimbursement on the invoices received from suppliers and contractors, which, as a result, translates into improvement in the financial liquidity of the unit and increase in the financial resources available.

We offer internal auditing services compliant with internal audit standards for public finance sector units specified in Announcement no 4 of the Minister of Finance of 20 May 2011. We have many years of experience in conducting internal audits and our company meets the requirements specified in Article 279 paragraph 1 of the Public Finance Act. In particular, we offer the following:

  • Creation of the internal audit charter, a code of ethics and internal audit rules and procedures;
  • Preparation of an annual internal audit plan based on risk assessment and management opinion;
  • Execution of audit tasks directed at strengthening risk management processes, internal control, and increasing effectiveness;
  • Verification of audit recommendation implementation.

We offer support at all the stages of implementation and management control according to the standards described in Announcement no 23 of the Minister of Finance of 26 December 2009 on management control standards for the public finance sector. In particular, during the creation and implementation of the following:

  • Internal environment;
  • Risk management system;
  • Management control mechanisms;
  • Information and communication system;
  • Management control system monitoring and evaluation mechanisms.

In order to efficiently execute management control, we offer a complex consulting service combined with the implementation of e-risk software, an in-house developed IT system that supports the risk management process. E-risk will help you identify, analyse and monitor the risks in your business. It is a flexible tool that makes it possible to implement any risk management methodology in one or a few areas of organization operation. E-risk assures fast information flow, making risk-related information available in real time directly to the people interested without the need for paper documentation.

Undertaking such a task, we divide our work into two elements: analysis of the documentation and records and System analysis. As part of the former, we will examine the technology used for electronic processing of accounting data in the accounting system that you indicate. This includes, among others, verification of the control over continuity of records and event classification; record and organise documentation  according to the classification criteria; introduction of evidence at the quality level assumed; control over the completeness of system records and data processing parameters; access to data sets, procedures, algorithms; compliance with the requirements for electronically generated accounting evidence; control mechanisms in the information system. As part of the system analysis, we will examine the description of the information system with regard to its compliance with the provisions of the Accounting Act, including the following elements of its operation: the environment, the list of records, structures, relations, and security measures; control over subsidiary ledger records; correctness of system description and documentation; control over system usage procedures; verification of the control mechanisms in the reporting subsystem; assessment of authentication mechanisms. The result of our work will have the form of detailed reports containing our observations and recommendations. At your request, we will help you implement the recommendations that we propose.

As part of that work which is of crucial importance from the perspective of your organization, we will perform documentation analysis (policies, procedures, and instructions connected with information system security), IT organization security audit and security assessment of the financial data processing information systems. Special attention will be paid to the identification of external requirements with respect to information security (e.g. contracts with Clients, legal requirements). The IT organization security audit will be complemented with an analysis of the security measures used in your financial systems. Analysis results will be used in order to determine whether the current configuration of your information systems assures full confidentiality and financial data integrity. The results of the work performed will be presented to you in the form of a clear and detailed report including a summary of particular work stages.