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 tailored auditing strategy designed to meet the specific requirements of the client.
The business structure of the firm, coupled with its specific areas of expertise, enables the development of a personalized auditing plan for each client.
A streamlined, efficient, and targeted auditing methodology.
Concentrating on authentic risks allows prioritization of areas with the highest financial statement exposure, thereby conserving resources in other areas.
Enhancing client value through the analysis of business processes.
By scrutinizing business processes and evaluating risks and controls, audit teams can identify weaknesses and opportunities for improvement across different business divisions. This adds significant value for the client.
Enhancing financial presentation through quality control measures.
Enhancing the presentation of financial statements and accompanying notes to provide a more accurate depiction of the business's financial position and operational results.
We offer you following types of audits
Auditing serves as the solution to assess the efficacy of the internal control system, ensure compliance with regulations, and prevent frauds and malpractices. Audits provide an external expert opinion on the company's status. As a publicly practicing Chartered Accountancy Firm, NHK Associates are providing the following types of audits:
Statutory audits primarily focus on ensuring compliance with various legal regulations such as the Companies Act, Accounting and Auditing standards, Central Bank guidelines, CSE regulations, and other statutory requirements. These audits concentrate on verifying the accuracy of financial statements and adherence to legal obligations rather than detecting instances of fraud or errors
Every business incorporated under the Company’s Act No. 07 of 2007 is mandated to undergo a statutory audit conducted by a publicly practicing Chartered Accountancy Firm, ensuring an independent opinion detached from the business operations.
What is Financial statement Auditing?
- Auditing is the impartial examination of financial information in any entity, regardless of its profit orientation, size, or legal structure. This examination is conducted with the purpose of expressing an opinion on the financial information.
- The objectives of audits are to verify the validity and reliability of information and provide an assessment of the internal control system within a business. The ultimate aim of an audit is to express an opinion on the person, organization, or system being evaluated based on work done on a test basis.
- We collaborate with you to ensure your business is well-prepared for an audit, providing assistance with full accounts production. Our auditors then conduct a comprehensive professional audit using the latest techniques and best practices. Subsequently, we work with you to address and resolve any audit issues that may arise.
In situations where shareholders or top management harbor skepticism about existing company controls and operational processes, opting for an internal audit becomes imperative. Internal audits reveal ineffective internal controls, potential frauds, and malpractices within a business. They also assess compliance with laws, statutes, or company policies, suggesting remedial actions as needed.
How we can assist you:
- Evaluate the effectiveness of your internal audit function for stakeholders
- Provide assurance on the effectiveness of internal audit, risk management, and corporate governance procedures
- Offer guidance on developing internal audit and risk management methodologies aligned with strategic business objectives
- Provide advisory services on any aspect of internal audit, including methodology and tools
Sustaining continual business growth depends on discerning operational strengths and addressing obstacles to the overarching objective.
Our services encompass:
Leveraging our auditing expertise, our NHK Associates audit teams can pinpoint fundamental issues through various non-statutory and special purpose audits. With insights derived from these audits, NHK Associates formulates client-specific management strategies, emphasizing key areas of focus and success metrics.
- Review of financial statements
- Agreed-upon procedures
- Examination of prospective financial information
- Assurance of corporate social responsibility (CSR) reports
- Project proposals
- Project evaluations
- Fraud and error detection assignments
- Reports on inventory and PPE verification