(Source: https://www.arsvest.ru/rubr/4/45632)

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

Stage 4. Assessment of test results and possible solutions

After checking the counterparty for good faith, the company should analyze the information received. Based on the analysis, three types of decisions can be made:

decision to conclude a transaction (in case of receipt of information about the good faith of the counterparty);

refusal to conclude a transaction in the presence of information that indicates a high risk of default on obligations;

decision to change the terms of the transaction to reduce risks.



Checking the conscientiousness of counterparties can reduce the risk of overdue debt obligations, reduce the risk of signing an agreement with unscrupulous companies or fly-by-night companies, and reduce the number of refusals by the tax inspectorate regarding VAT refunds. In addition, it minimizes the risk of counter tax audits and improves the company's reputation and image.

There are many resources on the Internet where a company can independently conduct the necessary verification. Some of them provide one or several parameters, some generalize information, for example, SPARK, but they all have a significant drawback - the client has to decide for himself what he wants to find, and then analyze the information received.   Such a check takes a lot of time, and since not all companies have special departments, the employees involved in the check may not have the necessary competence. In addition, general parameters do not always give an objective picture of a counterparty; there is a risk of collecting data on another counterparty with the same name. As a result, a wrong decision is made.

When contacting a specialized company, the client saves the time, since all requests and information processing is undertaken by the executing company.

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.