Objective of Audit
In short, the main objective of the audit is to express an independent opinion.
This opinion is expressed in determining whether an entity’s financial statements comply with the International Financial Reporting Standards requirements as approved by the Institute of Chartered Accountants of Pakistan.
Furthermore, the opinion should also mention that the financial statements give an accurate and fair view of the financial position of the entity being audited.
To achieve the objective (and to express an opinion), we perform our audit following International Standards on Auditing.
We focus on obtaining sufficient, reliable, relevant audit evidence to form an opinion.
An audit involves making the best use of resources available to us, the specialty of our professional staff, and their time.
Due to the diversified client portfolio, we have developed an audit approach to provide a high degree of flexibility with the involvement of high-level professional judgment in performing the audit.
Key Factors of Audit
Our approach has four key factors discussed:
- The first key factor is understanding the client – its business, risks, and needs
- The second key factor is developing a client service strategy based on our understanding of the client
- The third key factor is translating the strategy into an effective and efficient program of work for the audit
- The fourth critical factor is drawing appropriate conclusions from audit procedures performed.
Accordingly, our partners have practice licenses approved by the Institute of Chartered Accountants of Pakistan.
Firm’s Achievement of Quality Control Rating
Furthermore, the firm has also obtained Quality Control Rating from the Institute of Chartered Accountants of Pakistan.
Lastly, the firm can perform audits of large-scale entities due to the recognition mentioned above.
In addition to auditing services, our firm provides the following services as well:
- Taxation Services
- Accounting Services
- Business process outsourcing Services