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AUDIT AND ACCOUNTING

We offers audit services and accounting services in the following areas:

The Attest Function

To attest the information means to provide assurance as to its reliability.

A financial statement audit is by far, the most common type of attest engagement, which is conducted in Pakistan under the provision of the Companies Ordinance, 1984, the International Financial Reporting Standards (IFRSs), the International Auditing Guidelines (IAGs) and the guidelines set by the Institute of Chartered Accountants of Pakistan (ICAP).

The objective of the audit of financial statements is to express an opinion on the fairness with which the financial statements present the financial position, result of operations, and changes in the financial position in conformity with the established accounting standards.

Our standard practice is to organize and plan the audit assignments and the process for corroborating information, which forms the basis for expressing an opinion on the financial statements, is demonstrated below:

Communication with the Senior Management and the Board of Directors

As auditors, we looks beyond the financial statements to understand risks unique to the client’s industry and thus communicate to the Senior Management and Board of Directors, matters effecting the business entity’s and material weaknesses in the internal accounting controls noted during the process of audit field work.

In addition to provide the above services, we attest to the reliability of a wide range of other types of information, including:

• Financial forecasts.

• Internal controls.

• Compliance with the laws and regulations.

• Project viability

Creating Value with internal Audit

The role of the internal auditor in organization is changing. Today’s business environment requires the internal audit function to add value to the business by aiding the commercial business managers in business decision making. The scope and objectives of internal auditing are tending to place greater emphasis on other elements such as “A review of the economy, efficiency and effectiveness of operations including non-financial controls and review of compliance with the management directives and other internal requirements”.
We provide services as internal auditors for the attainment of the overall objective in creating value to the organization by providing services such as:

Reviewing and appraising the soundness, adequacy, and application of accounting, financial, and other operating controls, and promoting effective control at reasonable cost.

• Ascertaining the extent of compliance with established policies, plans, and procedures.
• Ascertaining the extent to which company assets are accounted for and safeguarded from losses of all kinds.
• Ascertaining the reliability of management data developed within the organization.
• Appraising the quality of performance in carrying out assigned responsibilities.
• Recommending operating improvements.
  

Accounting Services

We provide accounting services as per terms of agreement, which may include:

• Assisting in adjusting the books of accounts.
  
• Consulting on accounting matters.


• Preparing a trial balance.


• Providing computerized book keeping or data processing services.


• Compilation of financial statements from the books of account and issuance of an accountant’s report thereon.

Review Services

Review Services are relatively new development in the public accounting profession. We are responsive to the needs of clients, regulatory agencies, and the investing public for a service that provides some form of limited assurance (to attest) as to the reliability of financial data without requiring an examination in accordance with the IAGs.