Audit Before Applying for a Loan
Preparing your financial statements for the bank's assessment
Go to the Voluntary Audit serviceChecked against the official source:
A bank decides on a loan based on the borrower's financial statements — and treats them with more caution the fewer independent confirmations it has. An auditor's report removes part of this uncertainty and often affects the loan terms.
What the bank looks at in the statements
- revenue and its trend, the debt burden;
- accounts receivable and their quality;
- collateral and fixed assets;
- related-party transactions;
- the type of opinion in the auditor's report — a modified opinion lowers confidence in the figures.
What to fix before applying
- allowances for doubtful receivables;
- discrepancies with tax reporting and tax arrears — information on tax debts is not a tax secret (Art. 29 of the Tax Code);
- open advances and loans to shareholders.
What the bank tests in the statements
- Whether revenue is real and stable across periods
- The structure of liabilities and any hidden debt burden
- The quality of receivables — ageing and likelihood of collection
- The coverage and valuation of assets offered as collateral
- Related-party transactions that distort the real picture
What is better fixed before you apply
Typical problems that a bank finds on its own and interprets against the borrower: overdue receivables with no allowance, unexplained intra-group turnover, and discrepancies between tax returns and the accounting records. It is cheaper to find and explain all of this in advance than to justify it at the review stage.
Get your statements ready for a loan
We will review your statements through the bank's eyes and point out what will raise questions.
Go to the Voluntary Audit serviceFrequently asked questions
Does the bank accept a report from any auditor?
The bank sets its own requirements for the auditor — check them before signing the engagement. In any case, one condition is mandatory: a valid licence and compliance with the independence requirements of Art. 34 of Law ZRU-677.
Can the bank see the company's tax debts?
Information on the amounts of taxes paid and on arrears is not a tax secret (Art. 29 of the Tax Code).
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