Our auditors at BHR do more than only issuing a reasonable opinion of the companies’ financial position. We support the companies in the advisory of the appropriate compliance with the Financial Reporting Standards and the Audit International Standards.
In BHR our duty and commitment as financial auditors is to work as business partners of our clients. This means that we take part and have the highest commitment with our clients.
The trust in our financial statements figures has always been important for decision making. To have an Independent Auditor to review and to give the opinion on the accuracy thereof is essential for shareholders, directors and third parties such as: banks, governments, international bodies and potential business investors or purchasers.
In BHR Mexico we have a specialized team with the knowledge for the application of the Financial Reporting Standards (NIF), the International Audit Standards (NIA), the International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (US GAAP) used by the American companies.In addition to review that such standards are correctly applied, we provide advisory services to obtain advantages in the application.
The reports and opinions thereon are widely recognized by domestic and international financial companies to grant loans and governmental bodies such as the Ministry of Finance and Public Credit (SHCP), the Tax Administration Service (SAT), the Ministry of Public Administration (SFP), the Ministry of Economy (SE), the Mexican Board of Science and Technology (CONACYT) as part of the collection system and verification of accounts and other important non-profit institutions (ONG) to have the confidence that the resources have been used for their intended purposes.
Our relation and representation in Mexico with the firm Santa Fe Associates International (SFAI), member of Forum the Firms, allows us to have first-hand knowledge of the updates to the international accounting standards and therefore, to be immediately prepared for the correct application and implementation.
With the purpose to reduce the risk of issuing an incorrect opinion and/or failing to detect important situations in the financial statements figures, in all our audits, a quality control partner works to review the reports and paperwork supporting our opinions, in addition, we have a Domestic Quality Control Committee, selectively reviewing each of our offices to prove that there is no risk of unnecessary review.
Advantages of the service
As Mexico is member of the Organization for Economic Cooperation and Development (OECD), it has the obligation to apply regulatory actions supporting the authorities to maintain a control avoiding tax erosion, therefore, it is mandatory for the companies part of a National or Multinational Group, to obtain and maintain the reporting documentation to prove that their operations performed between related parties are under the market value, that is to say, that they have been made by a third independent party; the foregoing is known as Transfer Pricing.
We advise on legal and tax matters to several, states, municipalities and government-controlled corporations, with advisory in organization, administration, accounting and information technology.
Our experience empowers us by the Ministry of Public Administration to perform audits with respect to financial and budget matters and the independent practice of Public Accounting to government agencies and entities of the Federal Public Administration, the Office of the Attorney General and the non-government controlled Trusts, powers and similar agreements.
Recognition in the main States of the Mexican Republic to perform reviews of compliance with different local taxes.
Assistance to the systematic process focused on the objective, independent and evaluation examination of the financial, administrative and technical operations performed as well as the objects, plans, programs and goals achieved by the agencies and entities of the Federal Public Administration.
Review of public accounts with the purpose to determine if they are performed according to the principles of economics, efficacy, efficiency, transparency, honesty and if they comply with the applicable standards and guidelines.
Provide integral solutions with strategic alliances to comply with the provisions of the General Government Accounting Law applicable to the Executive, Legislative and Judicial Powers of the Federal Government, Federal States, City Halls of the Municipalities, Administrative Political Bodies of the territories of Mexico City, Government-controlled Entities (federal, state or municipal) and Autonomous Federal and State Bodies.