Objective: To provide an independent opinion on whether the financial statements give a true and fair view of the company’s financial position and performance.
Process:
Planning: Understanding the client's business, industry, and internal controls to plan the audit approach.
Testing: Performing detailed tests on transactions, account balances, and disclosures.
Review: Evaluating the results, identifying any significant issues, and obtaining management's responses.
Reporting: Issuing an audit report with an opinion on the financial statements.
Internal Audits
Financial Statement Audits
Financial Statement Audits
Objective: To evaluate and improve the effectiveness of risk management, control, and governance processes.
Process:
Risk Assessment: Identifying areas of potential risk and prioritizing them for audit focus.
Evaluation: Reviewing internal controls and procedures to ensure they are effective.
Testing: Conducting tests to assess compliance with policies and procedures.
Recommendations: Providing actionable recommendations to management for improving internal controls.
Compliance Audits
Financial Statement Audits
Compliance Audits
Objective: To ensure the organization is complying with relevant laws, regulations, and internal policies.
Process:
Review: Assessing compliance with regulatory requirements and internal policies.
Testing: Performing compliance tests on selected transactions and activities.
Reporting: Identifying areas of non-compliance and recommending corrective actions.
Tax Audits
Forensic Audits
Compliance Audits
Objective: To verify the accuracy of tax returns and ensure compliance with tax laws.
Process:
Review: Examining the company’s financial records and tax returns for accuracy.
Testing: Performing detailed tests on specific transactions and accounts.
Reporting: Providing findings and recommendations for any discrepancies or issues identified.
Special Audits
Forensic Audits
Forensic Audits
Objective: To address specific concerns or issues identified by management or regulators.
Process:
Focused Review: Conducting targeted audits on specific areas of concern.
Investigation: Performing detailed investigations to identify any issues or irregularities.
Reporting: Providing a comprehensive report on findings and recommendations.
Forensic Audits
Forensic Audits
Forensic Audits
Financial Statement Fraud: Investigating misrepresentation in financial statements.
Asset Misappropriation: Uncovering theft or misuse of company assets.
Tax Fraud: Detecting fraudulent tax practices.
Bankruptcy Fraud: Investigating fraudulent activities related to bankruptcy filings.
Business Disputes: Resolving disputes related to business closures, divorces, etc
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