Audit & Assurance Service is much more than verifying just figures and numbers. Audit & Assurances systematic review and inspection of the Entity’s accounts & controls. Generally, these are performed by external Parties to get a clear view and position on the state of affairs of the Company.
Since Business Owners, Investors, are busy with their core operating activities the overall performance, Internal controls, and state of affairs are not checked or verified. This is where Audit & Assurance Service plays a vital role in providing Stakeholders with reasonable assurance of the affairs of the business.
The audit is providing the opinion on the Financials Statements and is to ensure that information provided is of the required quality and is acceptable worldwide. For the Financial Statements to be accepted worldwide, it needs to be audited in line with International Standards on Auditing. These standards are interlinked and hence need to be applied in unity.
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