AUDIT OR PENALTY? WHAT WILL BE CHEAPER? - THAT'S IS THE QUESTION!

This is the dilemma we were concerned about at the company that approached us recently.

The calculations are quite simple: ⠀

⠀? penalty for the non-performed audit- UAH 17,000

⠀? the approximate cost of the audit is UAH 100,000.

That cost of the audit exceeds the penalties several times. The conclusion they made was: "It's easier to pay the penalty and not worry about the audit."

But here the heroes of our story were waiting for a new surprise. In fact, the penalty paid does NOT give the right not to conduct an audit. After the penalty has been paid, it is possible to fulfill the obligations to conduct the audit. Now they have to pay not only the penalty but also the cost of the audit.

Penalties for failure to conduct an audit:

⠀? For the first failure- from 17,000 to 34,000 UAH.

⠀? For repeated failure - from UAH 34,000 to 51,000.

Folk wisdom says: "The stingy pay twice." The excessive desire to save money often leads to excessive costs.

Everything has its price. If you have a company or business that requires independent verification, please comply with these obligations. Or stop doing this.

If you have any doubts about whether you need an audit or not, please contact us for a clear this.