Our firm provides audit services to clients in all business sectors. The audit helps entities achieve their goals and succeed in the new economy through measuring performance, managing risks, and leveraging knowledge.
We conduct audits either statutory or non-statutory through having a lot of care, due diligence, and adherence to relevant reporting standards are taken care of hand in hand with compliance to International Standards on Auditing and to ensure that codes of ethics are also observed.
All audits are carried out as per the firm's audit procedures, which are based on International Standards on Auditing and International Standards on Quality Control.
Our audit approach is principally risk-based and focuses on obtaining an understanding of the scope of the assignment and developing an audit strategy to achieve the set audit objectives. Our audit programs are well structured and tailored according to the client’s internal control system.
During the audit, we are constantly considering ways to maximize efficiency and optimize your profits, while also ensuring that statutory auditing requirements are handled concisely and as quickly as possible.
We offer the followings audit:
1. Statutory Audit
This audit is a legally required review of the accuracy of a company's or government's financial statements and records. A Statutory Audit is intended to determine if an organization delivers an honest and accurate representation of its financial position by evaluating information, such as bank balances, financial transactions, and accounting records.
The objective of a financial audit is often to assess whether funds have been properly handled and that all records and filings required are accurate by adhering to generally accepted accounting principles (GAAP). Undergoing a statutory audit is not an implicit indication of misconduct. Instead, it is also a formality intended to help discourage crimes, such as misappropriating funds by ensuring a professional third party routinely scrutinizes various documents. The same applies to other audit forms too.
The purpose of the statutory audit is to provide an independent opinion to the shareholders on the truth and fairness of the financial statements, whether they have been properly prepared in accordance with International Accounting Standard (IAS) and International Financial Reporting Standard (IFRS).
2. Non-Statutory/ Internal Audit
Internal Audit is performed on financial statements which do not fall under the requirements of statutory audit, but which may be required to meet industry or stakeholder requirements.
We offer a full suite of non-statutory audit services, including reporting on the standard of financial statements presently being compiled; if aspects of an agreement are being complied with, such as a contract or a loan; internal controls over the audit process. Financial statements are provided to meet clients' needs, either monthly, quarterly or annually.
In today’s dynamic environment, Internal Audit plays a key part in helping your organization achieve its strategic business objectives within the risk settings you desire. CN Trust Consultants Ltd brings the full range of the network’s specialty skills and industry experience to bear to give our clients the confidence and insights they need as they execute.
In addition to the above, we also provide other audits by complying with regulations and accounting policies. Typically, our services include:
- Management/Compliance audits
- Project audits
- Fraud audits and investigations of a special kind
- VAT audits and investigations
- Sales/Income audits
- Stock/Inventory audits
Besides expressing our opinion on the audit assignment, we also report to the management any shortcomings noted during the course of our audit, for improvement of the existing internal control system.