Finally, we follow up with the client as to the specific recommendations made in the audit report and verify the corrective measures taken.
Our External Audit Methodology:
– Understanding of the client audit environment
– Understanding of business cycles and processes
– Identification and study of internal controls
– Controls risk assessment
– Detection risk assessment
– Application of analytical audit procedures
– Documentation and issuance of the draft audit report
– Management representation
– Finalization of the draft audit report
– Issuance of the external audit report
Benefits of External Audit
– Fulfillment of statutory requirements
– Comparable financial statements
– Ease in getting funding for business expansion
– Validation of Internal control framework
– Strengthening of the internal audit department
– Higher Operational Efficiencies
– Earn Credibility
– Rectification of errors
– Get an Uninfluenced Opinion
– Reduce the Chances of Fraud
