Assurance Services

We offer wide range of assurance services, with the primary focus on the objective of assurance on the reliability and relevance of financial information and a host of non-financial aspects, data, processes, operations and procedures and on the effectiveness and efficiency of controls. These services include;

  1. Statutory Audit;
  2. Management Audit;
  3. Internal Audit and System Control Review (SCR).
  4. Information System Audit.
  5. Tax Audit;
  6. Regulatory Audits and Regulatory Compliance Review (RCR);
  7. Cost Audit and Cost Allocation Studies;
  8. Review and Compilation Assignments.

Statutory audit

  1. Financial audits of both domestic and foreign companies, private limited companies, branches of foreign entities, provident funds, pension, gratuity and other employee benefit funds, charities trusts or non-governmental organizations;
  2. To ensure the truth and fairness of financial statements to be prepared and presented in accordance with identified financial reporting framework e.g. in Pakistan these are International Financial Reporting Standards (IFRS/IAS) issued by IASB and adopted by the Companies Act, 2017 and other circulars and directives issued by SECP (Securities and Exchange Commission of Pakistan);
  3. To be conducted in accordance with International Standards on Auditing IASA’s issued by International Federation of Accountants (IFAC) as applicable in Pakistan.

MANAGEMENT AUDIT

  • Performance of agreed upon procedures between the Firm and client management in order to provide assurance on the reliability and accuracy of financial & non-financial information;
  • To provide a detailed investigative report on findings and issues arising, implications and recommendations thereon.

INTERNAL AUDIT & SYSTEM CONTROL REVIEW (SCR)

  • Obtaining the understanding of existing accounting and internal control system, approved and implemented by the management
  • Checking the compliance of existing accounting & internal control system
  • Continuous periodical reporting to management about non-compliance of existing system, weaknesses found and suggesting improvements in the accounting & internal control system
  • Reporting on non-compliance of regulatory and statutory requirements

Information system audit comprises of the audit of the automated system components & review of the related non-automated procedural flows. It also includes a thorough review of the controls embedded in the system design & development.

  1. Audit of computer Systems.
  2. Audit of IT infrastructure.
  3. Review of network Security.
  4. Assessment of compliance with the International security standard BS779.
  5. Audit of Web based applications etc.
  1. Providing assurance to tax authorities / clients, on compliance with various aspects of Income Tax, Federal and Provincial Sales Tax, Customs and Excise Duties or other tax statutes;
  2. Scope varies from case to case based on degree of assurance sought by the authority or client.
  1. Providing assurance based on a structured criterion mainly emerging from governing statute and related regulations whether significant provisions thereof are duly and promptly complied with;
  2. Providing reasonable assurance to clients, that enterprise is not in significant default in complying relevant laws and regulations.

Audit Beyond Normal Plan

  • Performance of detailed review of internal control system in order to find weaknesses in the system and to perform GAP analysis
  • Assisting system analyst and developers in system analysis, design and development process
  • Implementation of new systems developed and post implementation review
  • Training of personnel in order to understand and use new systems got developed

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