Audit Offshoring Services

Audit Planning:

  • Preparation of audit requirement list
  • Mapping of Trial balance and preparation of draft financial statements
  • Suggestive materiality workings
  • Preparing preliminary overall analytical review
  • Assist in team planning – budgeting, task allocation, project management
  • Assist in drafting minutes of the planning meeting
  • Rollforward of Audit planning documentation – mapping of significant accounts, associated risks, assertions and controls
  • Assist in documenting the walkthroughs with the supporting evidence provided
  • Testing of controls
  • Circulating group reporting instructions and maintaining a track of the deliverables
  • Opening balance verification

Audit Execution:

  • Preparation, verification, and review of working papers
  • Assist in sample selection
  • Examining audit evidence and indexing the documents
  • Circulating balance confirmations and maintaining a tracker (also through confirmation.com)
  • Substantive testing
  • Substantive analytical procedures
  • Other analytical procedures

Audit Conclusion:

  • Assist in preparing consolidation workings
  • Financial statement quality review
  • Preparation and review of GAAP disclosure checklists
  • Preparation of overall analytical review on the financial statements
  • Preparation of Letter of Representation (LOR)
  • Preparation of Internal Control Memorandum or Management Letter Points (MLP)
  • Preparation of draft consultation memos on auditing or accounting issues

Internal audit:

  • Assist in planning and project management of internal audit assignments
  • Assist in preparing work papers
  • Assist in testing of internal control framework and maintaining required documentation
  • Examining audit evidence and indexing the documents
  • Summarising internal audit observations and recommendations
  • Assist in preparing internal audit reports

Audit Training:

  • Conducting audit training as per the required specifications
  • Facilitating and organizing training contents

You give this:

Trial Balance

Financial Statements

Process narrative

Invoice

Ledgers

You get this:

Test of Control matrix

Visio Flowchart

Work Paper / Test of Details

Checklists

Financial Statement Quality Review

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