Audit stages

1st phase

Understanding operations as applies to the industry; planning out work in conjunction with company management; identifying critical issues that we and management believe need specific testing; drawing up a deliveries timeline; and setting the submission date for the financial-statements report.

2nd phase

Understanding and evaluating internalcontrols set-up, including IT (knowing risks and how they are controlled), accounting for all the critical processes for complete financial statements and covering the five components of the Internal Control Framework:

• set up control area;
• evaluate risks taken by company administration;
• communicate;
• monitor controls;
• set up control procedures.

We then conduct the following critical tests:

• Walkthrough of transactions to verify reliability of internal control procedures and their effectiveness in mitigating risk;
• Testing controls to prevent and identify errors;
• Analytical reviews and detailed data testing to correct material errors in financial statements.

3rd phase

Evaluating company’s accounting policies based on preparation of financial statements.

Evaluation and analysis is carried out by a multidisciplinary team of specialists with broad auditing experience. Members from a number of departments work seamlessly together in order to ensure fast turnaround time and an unparalleled product.

4th phase

Engaging an integrated team of tax specialists and auditors to evaluate the company’s fiscal procedures and ensure that all procedures meet current legal requirements.

5th phase

Evaluating financial information, including analyzing manual entries that may affect financial statements, and examining differences between the accounting system and auxiliary systems. This phase also includes reviewing financial information vis-à-vis lawmaking bodies as well as communicating with shareholders, corporate governance bodies and company administration.

Do you have any question?

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