External audit is a routine check of records and/or procedures performed by the certified auditors who are not the part of the company to be audited. It helps both the company and government to check accounting documents. An external audit can be conducted voluntarily or non-voluntarily by the outsider. The external audit is prepared to check the accuracy of statements and an organization’s financial standing. An external auditor is a professional, independent third party that performs an unbiased review of the financial records of a certain company. The auditor must evaluate the organization’s records, including payroll, purchasing records and accounting. He/she also looks at the financial investments and organizations loan structure to identify any irregularities.
External auditing is one of the services that our company provides and it is procedures and actions that our professional staff perform to express an opinion on the financial statements of our clients in accordance with international auditing standards.
In addition, the audit work is designed to provide advice to business owners and managers that will benefit them in making their decisions and achieving the goals of their company.
All audit work begins with understanding and assessing the nature of the company's business to be audited. Which helps us to make constructive suggestions to develop the company's business, strategic plans, information systems and internal control. And then applying auditing procedures that are in line with the requirements of local regulations, laws and international auditing standards.
We carry out this type of systematic audit / review of effectiveness, efficiency and economy in the process. Operational audit is a future, systematic, and independent evaluation of organizational activities.
In the performance of our audit functions, we only use partial financial statements, but the main sources of evidence are internal policies and procedures, and operational accomplishments related to achieving client objectives.
These include planning and implementing audits of the organization's operational processes, assessing compliance with reguPoppinsry procedures and policies, and evaluating enterprise risk management processes.
These are tasks assigned by the independent auditor to review specific financial information, according to agreed procedures and to report the factual findings.
It is the audit conducted by the independent auditor of the financial statements of the company or institution in order to verify the authenticity of the information provided. This review includes making inquiries regarding financial, operating and contractual information, applying analytical procedures and conducting discussions with appropriate officials in the organization
A statutory audit is a legal procedure to be done to review the accuracy of an organization’s financial statement and records. It is mandatory to conduct a statutory audit for government organizations to monitor and evaluate their performance. Generally, the statutory report is prepared for the public. It helps to determine whether the company is providing a fair and accurate financial information to the public. The statutory audit examines information such as bookkeeping records, bank balances, and financial transactions. The statutory auditors are selected by the General Meeting of Shareholders for the period of 3 to 5 years.
A due diligence audit involves the assessment of an organization, in order to determine its financial performance. It helps one to gain a greater understanding of the business earning capabilities, the competency of the management, the prospective customers, and suppliers, as well as their financial position.
In general, a due diligence investigation is used by an individual or firm that is willing to do any business with a company. The overall objective of a due diligence audit to help the client in evaluating the history, performance, ability, and goodwill of the organization.
In the financial world, risk management is the process of recognizing, evaluating and controlling threats to a firm’s capital and earnings. These threats may occur from a range of sources, including legal liabilities, financial uncertainties, strategic management errors, accidents and natural disasters. There are two types of events: positive events can be called opportunities, while negative events are classified as risks.
Fraud investigation audit is conducted to detect, trace, quantify and prevent fraud, terror finance, and money laundering. It involves a thorough examination of the financial records of a company to discover financial irregularities. It also determines any financial errors, identifies the suspect, obtains notable evidence against the suspect, and provides a suitable recommendation to prevent such frauds in future.
Generally, a fraud investigating auditor is known as a forensic auditor, who is specialized in the investigation of audits of the firm. He/she scrutinizes the financial records of a company, in order to trace the suspect and his/her assets.
Company liquidation is the process of closing down a company. It is an event that usually occurs when a company has no money to pay its remaining debt. When the company operation ends, usually the organizational assets are distributed to creditors and shareholders, based on their priority of claims.
In general, the person who conducts the overall liquidation process is called liquidator. A liquidator is appointed by the court or the shareholders of the company, according to the type of liquidation.