Audit and Assurance Services
Whether you require a statutory or non statutory audit, our Auditors can help you. We provide audit services for a range of clients. The firm’s audit approach is based on understanding the client, including the industry in which they operate, its organizational structure and its internal control processes.
A customized auditing plan aligned with client needs
The firm’s business structure and special areas of focus facilitate the preparation of a customized auditing plan for each client.
An effective efficient and focused auditing approach
Focusing on genuine risks makes it possible to focus on those areas where financial statements are exposed to the highest risk, while saving resources in other areas.
Added value for the client by analyzing business process
analyzing business process and examining risks and controls enables audit teams to spot both weaknesses and possibilities for improvement in the various business divisions, adding value for the client.
Quality control improving the presentation of the financials
improving the presentation of the financial statements and accompanying notes to more accurately reflect the business financial position and the results of its operations.
We offer you following types of audits
Auditing is the solution to analyze the effectiveness of the internal control system, compliance with regulations and to prevent frauds & malpractices, because with audits an external expert opinion is delivered about the company status. As a publicly practicing Chartered Accountancy Firm BEMS Associates can offer you following types of Audits,
STATUTORY AUDITS
All businesses incorporated under the Company’s Act No. 07 of 2007, are required to conduct a statutory audit by a publicly practicing Chartered Accountancy Firm & whose opinion must be independent from the business operations.
What is Financial statement Auditing?- Auditing is the independent examination of financial information of any entity, whether profit oriented or not, and irrespective of its size or legal form, when such an examination is conducted with a view to expressing an opinion thereon.
- Audits are performed to ascertain the validity and reliability of information; also to provide an assessment of a system’s internal control. The goal of an audit is to express an opinion of the person/organization/system under evaluation based on work done on a test basis.
- We work with you to ensure that your business is fully prepared for audit and assist with full accounts production. Auditors will then complete a full professional audit using the latest audit techniques and best practice. We then work with you to ensure that any audit issues that arise are addressed and resolved.
INTERNAL AUDIT
If shareholders/ top management of a business are/is skeptical about the existing company controls & operational process, conducting an internal audit is the best decision. With an Internal Audit, ineffective internal controls, frauds & malpractices within a business can be disclosed. Also, the compliance with laws & statutes or company policies can be measured and remedial actions are suggested if necessary.
How we can support you- Assess whether your internal audit function is delivering effectively to stakeholders
- Provide reassurance that your internal audit, risk management and corporate governance procedures are operating effectively
- Advise on the development of internal audit and risk management methodologies that align with strategic business objectives
- Advisory services related to any aspect of internal audit including methodology and tools
FORENSIC AUDIT
With Forensic Audits we evaluate and examine financial records of the business to identify possible evidence to prove in-front of court of law.
services we provide include- Services focused on disclosure of accounting frauds, misappropriation and similar illegal situation or behavior inside the accounting unit
- Verification and prevention of security incidents
- Revision of internal control mechanisms against frauds
- Revision of loyalty of employees and observance of companies ethics programs
SPECIAL PORPOSE AUDITING
Achieving ongoing business growth hinges on understanding what’s providing operational strength and what’s detracting from the ultimate goal.
Our services include:Applying our auditing know-how, our Business Eye audit teams can help you identify these fundamental issues through a range of non-statutory and special purpose audits. Using intelligence gained through these audits, Business Eye develops client-specific management strategies that include key focus areas and measures for success.
- Financial statements review
- Agreed upon procedures
- Examination on prospective financial information
- Assurance of corporate social responsibility (CSR) reports