The financial statements of an entity, based on the relevant legislation, for a given period of time are to be looked after by a Statutory Auditor. The role of the auditor here is to report on the true and fair presentation of the financial statements of the entity. It is a crucial tool for stakeholders to gauge the substantiality of the entity with regard to their proceedings.
The audit is conducted to determine whether the financial statements are stated in accordance with specified criteria such as Nepal Financial Reporting Framework (NFRS)/ Accounting Standard/IFRS/GAAP. It becomes difficult for auditors to only concentrate on accounting affairs when the complexity in a business rises. We apply a holistic technique which involves a deep knowledge of the business that gradually inflate audit efficacy. We employ a risk based audit technique that is in complete agreement with the SAs.
Our technique includes:
A clear comprehension of the business as well as an understanding of pertinent industry factors.
Evaluating the risks involved and developing a desired approach.
Concise registering of review procedures, audit planning and implementation.
Direct and communicative process, offering added benefits with stronger internal controls.
Ensuring higher professional benchmarks with quality control processes.