Statutory Audit

How It Works!

Statutory Audit is a legally required external audit conducted annually to meet a specific set of requirements by the government. It relies on the internal audit reports, verification of financial information, documents and related stock validations. Scope and nature of audit programme are subject to the specifications of the governmental body and financial institutions. It involves scrutiny of all financial statements and accounts related to the organization to ensure their reliability and avoid any misrepresentation or discrepancies. The findings of a statutory audit are legal and binding and can lead to citation or fines or both. All registered business enterprises are mandated to undergo statutory audit for the preparation of accurate financial statements. Statutory audit plays a major role in efficiently managing the operations of the company.

In the midst of multifaceted and dynamic market conditions, we at A. Arshad and Company are keen on attaining organizational benefits and adding value to regulators, shareholders and other stakeholders by offering professional services in line with internationally accepted accounting standards and methodologies. Our innovative and exceptionally talented team is committed to undertaking all possible measures to eliminate fraud and stimulate transparency by scrutinizing your financial statements and reporting methodology. Our complete compliance with the local governing laws certifies its accuracy and credibility.

Years of experience and extensive technical knowledge in the financial and accounting industry enable us to communicate with clients regarding business issues and help identify organizational areas susceptible to risks, based upon which we design solutions that mitigate those risks. We help our clients monitor their organizational code of conduct, have regular reviews to assess the quality, economy and efficiency of the operational performance and implement strategies for improvement. Our services are structured to adapt to the nature and size of the organization and guarantee you of a fair and true view of the entity on the financial statements

Please feel free to contact our office with any questions regarding audit services.

Internal Audit

How It Works!

The role of the internal audit function is critical for the success of any risk management framework within an organization. The main obligation of internal auditors is to evaluate whether other risk systems and controls in place within the firm are operating effectively to manage and mitigate risks or not. Such an independent evaluation of the firm's control functions will go a long way in enriching the systems and procedures that are followed.

We believe in establishing a solid business relationship with our clients based on transparency and continuous communication so as to enhance the quality of the internal audit functions that we perform. We encourage our clients to participate in every step of the audit programme, to arrive at comprehensive solutions that are an advantage to every firm that we work with.

Compliance

How It Works!

Compliance describes the ability to act according to an order, set of rules or request. In the context of financial services businesses compliance operates at two levels.

Level 1-compliance with the external rules that are imposed upon an organization as a whole.
Level 2-compliance with internal systems of control that are imposed to achieve compliance with the externally imposed rules.

In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Regulatory compliance describes the goal that organizations aspire to achieve in their efforts to ensure that they are aware of and take steps to comply with relevant laws, polices, and regulations. Due to the increasing number of regulations and need for operational transparency, organizations are increasingly adopting the use of consolidated and harmonized sets of compliance controls. This approach is used to ensure that all necessary governance requirements can be met without the unnecessary duplication of effort and activity from resources.

We provide our services to review the compliance mechanism followed by our clients and provide guidance on how to ensure the effective compliance.

We at A. Arshad and Company offer following services with regards to compliance;

- Regulatory compliance
- Legislative compliance
- Agreement/Contract term compliance
- ISO compliance

Assurance & Related Engagements

How It Works!

Independent assurance and verification adds credibility to your organization's disclosures, reporting, processes and controls.

We offer assurance over a broad range of information and activities of our clients to:

Help uphold 'trust' by assuring the accuracy and completeness of the information used by organizations and stakeholders.

Add value beyond the financial statement audit by providing assurance over other business value drivers such as governance, risk, internal controls and KPIs.

We can assist both public and private sector organizations to add credibility to reporting and disclosures provided to stakeholders such as regulators, shareholders, investors, customers/suppliers and government bodies.

We offer the following combination of engagements under International Standards on Related Services (ISRE).

- Reasonable assurance
- Review engagement
- Compliance engagement
- Agreed-upon procedures engagement
- Compilation engagement
- Specialized Areas (ISA 800, 805 & 810)