JMFC Knowledge Base

Practical guidance on statutory audit, financial reporting and IFRS

This section is built for CFOs, chief accountants, management board members and business owners who need clear answers before year-end close, audit fieldwork or group reporting. The focus is practical: what it means, whether it applies to your company and what you should do next.

P
Licensed statutory auditorPANA no. 12933. Direct contact with the engagement lead.
20+
20+ years of experienceAudit, accounting advisory and management support.
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Big4 + mid-tier backgroundRigour where it matters, flexibility where it helps.
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Entry paths

Start with the angle that matches your role

If the topic surfaced just before year-end close, an investor meeting or audit planning, choose the path that best fits your situation.

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Audit readiness

How to prepare for a financial audit

This guide puts the whole process in order from the CFO and finance team perspective: timing, ownership, reconciliations, disclosures, source documents and the risk areas worth closing before the pressure starts.

6 min readCFO / chief accountant
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Why it matters

It gives management, CFO and accounting one working language. In practice this reduces the number of avoidable questions from the auditor and helps identify issues before they become late corrections.

Articles

Guidance organised around the most common questions from boards and finance teams

Each page takes the reader from the issue itself to the next decision, related article or direct discussion with a statutory auditor.

Statutory audit

When is a financial statement audit mandatory?

How to assess statutory thresholds, exceptions and the point at which management should move into auditor selection.

6 min readBoard / owner
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Company audit

Audit of a limited liability company

Scope, timing, management responsibility and the documents that usually determine how smoothly audit runs.

5 min readLimited liability company
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Planning

Audit thresholds 2022-2026

Historical table of thresholds, two-out-of-three rule and the most common counting pitfalls for CFOs.

5 min readThresholds / planning
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Accounting corrections

Lease accounting and error corrections

When a lease correction means a prior-period error and when it is just a change in estimate or updated assumptions.

6 min readLeases / Polish GAAP / IFRS
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IFRS

IFRS vs Polish GAAP

Where the key differences show up and how they affect EBITDA, balance sheet and reporting to group or investor.

7 min readGroup reporting
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Checklists

How to prepare for a financial audit

Checklist for CFO and finance team: reconciliations, disclosures, tax workpapers, contracts and key timing decisions.

6 min readCFO / finance
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Audit scope

What does a statutory auditor check?

From revenue and receivables to provisions, leases, impairment, tax and subsequent events.

5 min readAudit scope
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Consolidation

Group consolidation: CFO checklist

How to organise reporting packs, eliminations, intra-group balances and audit readiness for group reporting.

7 min readGroups / IFRS
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Reporting quality

Common financial statement errors

Classification mistakes, disclosure gaps and closing-process issues that prolong audit and lead to corrections.

6 min readFinancial reporting
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Management decision

Is a voluntary audit worth it?

When a voluntary audit supports financing, investor dialogue, M&A readiness or leadership transitions.

5 min readOwner / board
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First steps

Where to start if audit or year-end close is getting closer

Board

Mandatory audit

Start here if management needs a quick answer on thresholds, timing and whether the company should already secure an auditor.

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Finance

Audit readiness

Practical route for CFO and chief accountant: documents, reconciliations, ownership and the areas that stall audit.

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Group

IFRS vs Polish GAAP

If the topic is driven by group reporting, packages or standard differences, this is the best entry point.

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Services

Related JMFC services

If you already know the issue affects your company, you can move directly from the article into the most relevant service area.

Audit

Financial audit

Statutory and voluntary audit with a clear timetable and direct communication with management.

See service
 Group reporting

Consolidation and IFRS

Support with reporting packs, eliminations, Polish GAAP to IFRS bridge and group close pressure.

See service
 Advisory

Accounting advisory

Practical support for complex accounting issues, disclosures, estimates and audit preparation.

See service

Need a direct answer for your company, not another generic article?

If you want to assess whether statutory audit applies, organise your company before audit or discuss an IFRS / reporting issue, speak directly with a statutory auditor.

Direct contact with the engagement lead Practical answer, not theory Audit, IFRS and reporting perspective in one conversation
Emailoffice@jmfc.pl Phone+48 502 960 170
Book a consultation See audit services