For the First Time in Kazakhstan, Financial Audits Are Available in Electronic Format with a 30% Discount

Documentolog and BDO Qazaqstan announce a unique offer for businesses in Kazakhstan - “eaudit minus 30” - conducting a financial audit of the company in electronic format with a discount of up to 30%.   

What is conducting a financial audit in electronic form?

A financial audit allows company owners and managers to obtain an independent assessment of the current financial state of the company and ensure that their activities comply with the legislation of the Republic of Kazakhstan. However, until now, conducting a financial audit has been a rather labor-intensive process. The main challenges in the audit process were the collection of primary financial documents and their scanning, preparation and sending of letters to counterparties, signing of reconciliation acts, advance reports, and other documents. Since letters and reconciliation acts were signed manually, and delivery was carried out in the traditional way through a postal courier, the entire audit process could take an average of 2 to 6 months. 

Documentolog, with extensive experience in automating business processes, has developed a solution that allows signing, sending, and receiving the following types of documents in electronic form in a legally significant way:

• audit requests, 
• reconciliation acts, 
• confirmation letters with counterparties, 
• summary of adjustments, 
• financial statements,
• audit report.

Document approval and signing are done using an electronic signature, and delivery is carried out electronically, which allows:

• to reduce the audit time for the company by at least 2 times;
• to ensure 100% savings on postal expenses;
• to eliminate risks associated with forgery, fraud, document alteration during printing, scanning, forgery, etc.

The "Electronic Audit" solution has undergone full testing in collaboration with BDO Qazaqstan, one of the leading international audit companies, and is ready for use by any company in the Republic of Kazakhstan. Moreover, an agreement was signed by the companies, under which all companies using Documentolog Business and Documentolog Platform solutions can conduct an electronic audit by BDO Qazaqstan with a discount of up to 30%. A contract with BDO Qazaqstan can also be concluded electronically.

Baizhan Kanafin, CEO of Documentolog: “All the initiatives we implement address the pains we encounter ourselves in the work process. We have been conducting financial audits for 4 years and were forced to do it "the old-fashioned way." I had to sign numerous letters and reconciliation acts on paper. Last year, we asked ourselves, "how can we eliminate paper using our experience and solutions?" and offered our auditors, BDO Qazaqstan, to jointly digitize the process. I would like to express my gratitude to the Director of BDO Qazaqstan, Chingiz Sadykov, and the BDO Qazaqstan team for their openness to new proposals and innovations, thanks to which the project was successfully implemented.” 

Chingiz Sadykov, Director of BDO Qazaqstan: “BDO Qazaqstan prioritizes continuous work on improving the quality of audits for our clients, which undoubtedly includes the use of modern IT technologies that will help make the audit more "easy," pleasant, and prompt for all stakeholders of the audit project. We are grateful to Baizhan Kanafin, CEO of Documentolog, and his team for developing a modern IT solution that will allow us and our clients to gain a number of benefits and eliminate a number of risks in conducting audits.”     

How to use the "Electronic Audit" solution? 

The "Electronic Audit" solution will be offered FREE to all companies using Documentolog Business or Documentolog Platform solutions. To take advantage of the offer, you need to: 

1. For existing Documentolog Business or Documentolog Platform clients:

a) send an outgoing letter in the system to BDO Qazaqstan requesting a financial audit under the "eaudit minus 30" program.

b) Connect the "Electronic Audit" service in the Services section.

2. For new clients:

a) register the company on the documentolog.kz website. 

b) purchase the Documentolog Business or Documentolog Platform tariff.

c) send an outgoing letter in the system to BDO Qazaqstan requesting a financial audit under the "eaudit minus 30" program.

d) Connect the "Electronic Audit" service in the Services section.