The firm renders financial statement preparation services to public companies in accordance with the guidelines of the Israel Securities Authority pertaining to independence. The service is rendered with the complete cooperation of the client’s auditors, placing an emphasis on the specific issues facing each company and industry.

The new guidelines of the Israel Securities Authority pertaining to “independence” stipulate that the dependence of the auditor is compromised in cases in which it assists the Company in preparing its financial statements. This guideline refers not only to the annual financial statements but to the quarterly financial statements as well. As a result, financial statements audited by the auditors of the Company which do not fulfill the independence requirement will not be considered as properly audited financial statements and the Israel Securities Authority will be unable to consider such financial statements as complying with the requirements of the Securities Law and related regulations. Therefore, public companies have to ensure that their financial statements are prepared by the company itself, without the involvement and assistance of their auditors.