In order to protect itself from all possible risks in the conduct of business activities and claims from the tax authorities, the company should take several steps to conduct an audit of the counterparty. Verification is usually carried out in four stages:
Stage 1. Analysis of data from the Internet resources of official bodies
Stage 2. Analysis of the package of documents
Stage 3. Analysis of informal data about the counterparty's activities
Analysis of informal information gives a certain idea of the business reputation of the counterparty and its good faith. Its source can be primarily the website of the company, the websites of its partners and the websites of industry unions and associations where the counterparty is a member. A minimum of information on these sites may indicate that the company is not just unscrupulous, but also belongs to the so-called fly-by-night firms.
Good results are obtained by studying reviews of the company's activities (if any on the Internet) or personal conversations with the counterparty's partners. On the websites of serious companies you can always find a list of their clients.
Personal meeting with the management of the counterparty
To make a final decision on cooperation, as well as to sign a contract or conclude a deal, it is better to meet with the management in person. Firstly, this will help to make sure that the head of the company really exists and is exactly the one indicated in the documents, and secondly, transactions concluded in absentia or by mail raise reasonable suspicions from the tax service.
Stage 4. Assessment of test results and possible solutions
Russia-IC has developed mechanisms for checking the conscientiousness of counterparties, including inquiries and analysis of the necessary documentation, as well as a study of the Internet environment. We guarantee the reliability and accuracy of the information collected.
Author: Anna Dorozhkina