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Annual Audit
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Audit and Assurance : Saif Chartered Accountants
Our Audit & Assurance practice is the core of our services. Our vast experience in the profession for more than two decades helps us to offer the best of the industry services to all our clients.
“An audit is the independent examination of financial statements of any entity, whether profit oriented or not, and irrespective of its size or legal form, when such an examination is conducted with a view to expressing an opinion thereon”.
We, at Saif Chartered Accountants, follow the professional approach in planning and executing the audit assignment.
Our main areas of expertise
Audits are objective examinations of evidence for the purpose of providing an independent assessment. These services include assessing and reporting on the adequacy and effectiveness of internal controls, risk management, and governance processes. The audit is not intended to evaluate an individual’s performance; it is focused on department processes. The scope of audit coverage includes reviewing and evaluating:
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Financial Audit, Review and Compilation
An audit provides the highest level of assurance on an organization's financial statements. An audit provides assurance that an organization's financial statements are free of material misstatement and are fairly presented based upon the application of generally accepted accounting principles.
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Implementation of Internal Audit procedures
In addition to reviewing currently available literature and relating the actions needed to implement steps and processes, a great deal of practical experience and information was collected by interviewing or corresponding with people having firsthand experience creating new and/or transforming existing internal audit
Statutory and Non Statutory Audit
Our auditors perform a statutory audit for private and listed companies and educational institutions. The non-statutory audits for reviewing and verifying an organization’s reports on financial matters. Our audits lends credibility to client’s financial reporting and it is well received by banks and financial institutions that rely on independent auditor’s assessment.
Plans
As a matter of principle and practice, we are determined to obtain sufficient appropriate audit evidence through the performance of compliance and substantive procedures to enable us to draw reasonable conclusions therefrom on which to base our opinion on the financial information.
Our plans are made to cover, among other things:
- To acquire knowledge of the client’s accounting system
- policies and internal control procedures
- To establish the expected degree of reliance to be placed on internal controls
- To determine and programme the nature timing and extent of the audit procedures to be performed; and
- To coordinate the work to be performed
