Posted By: FinXcel a year ago

Audit can be conducted to achieve various objectives by verifying and analysing information based on specific law, regulation or a framework to express an independent opinion/conclusion by an audit firm with regard to the compliance of an information with relevant law, regulation or framework.

Some of the important types of audit are classified below:

Performance Audit:

This audit is conducted to achieve objectives like project/program outcome and viability, compliance with specific legislation/requirements and prospective monitoring/examination.

Operational Audit:

To check compliance of the procedures involved in an operating cycle of a class of transactions that involved different departments within a company.

Compliance Audit

To confirm whether the company comply with the legislature requirements.

Information System (IS) Audit

To evaluate the effectiveness and sufficiency of controls embed in an IS function/software under usage by the company for execution of procedures/transactions.

How we stand out to arrange special purpose Audit

We understand that aforementioned Audits are based on low or regulations or special purpose framework, therefore we comprehend thoroughly the relevant subject matter on which such Audits are based. Accordingly we tailor our available audit methodologies and intellectual standards and procedures to design auditing techniques and procedures that best suits such Audit engagements to ensure timely delivery of quality audit deliverables to our clients.

Clients gain advantage from our technical insights and subject knowledge & experience of our partners who brought enriching experience gained through the performance of such Audits on clients in Big Four Accounting Firms and present deliverables that is usually based on International Standards of Auditing (ISA-800)- Special Considerations for Audits of Financial Statements prepared in accordance with special purpose frameworks and International Standards on Related Services (ISRS-4400) – Agreed Upon Procedures Engagements.