We provide specialized audit services such as gross turnover audit, government grant certification, travel agency license renewal, cargo tonnage verification, entertainment expense assessment, agreed-upon procedures, MCST audit, and more.
Understand the terms and conditions of the audit. e.g., for government grant audit, identify the scope including the specific grant programs and funding sources to be audited.
Develop an audit plan that outlines the objectives, procedures, and timelines for the audit.
Assess the risks associated with the audit, such as the risk of non-compliance with audit requirements, misappropriation of funds, or mismanagement. Evaluate the organization's internal controls related to the audit to assess their effectiveness. Identify any weaknesses or deficiencies in internal controls and recommend improvements if necessary.
Conduct substantive testing to verify the accuracy and completeness of transactions and expenses. Perform compliance testing to ensure that the organization is adhering to the stipulated terms and conditions. Examine the agreement and related documentation to ensure compliance. Review financial records and reports associated with the audit.
Gather sufficient and appropriate audit evidence to support the audit findings and conclusions. Document and report any findings of non-compliance, mismanagement, or other issues. Categorize findings by their materiality and significance.
Issue an audit report that includes the audit opinion, findings, and recommendations.