Audit Offshoring

Audit Offshoring

by Aswani

“World-class audit support services mapped to your specific business needs and regulatory requirements”

Our audit professionals provide support services for independent financial statement and internal control audits, in accordance with the latest professional standards and with a focus on quality. Audits and reviews are planned to assess and identify possible risk—whether the risk of a material misstatement or a risk in internal controls.

Through Buchprufer, your organization can utilize experienced and knowledgeable audit professionals through a cost-effective, full-service outsourcing arrangement. Our audit processes and procedures can be used in whole or in part, depending on the client’s existing methodologies, to form the foundation for an effective and efficient audit plan. This plan will be centered on managing audit risk while keeping our clients in control of the audit process. We will assist in fully managing the audit process from start to finish.

Audit offshoring services:

Pre-audit:

  • Trial balance mapping, opening balance verification & journal entries
  • Materiality calculations & preliminary analytical review
  • Audit planning documentation & optimisation
  • Preparation of audit requirement list
  • Assistance for sampling
  • Assistance in preparing confirmation requests to banks, debtors, creditors, etc.

Field audit:

  • Preparation, verification, and review of working papers
  • Audit evidence verification and linking of documents
  • Cross-referencing of documents to the lead sheets
  • Completion of audit file documentation
  • End-to-end execution and review of email audits
  • Data analysis and ledger scrutiny using ACL Analytics
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Audit finalization:

  • Preparation of financial statements as per International Financial Reporting Standards
  • Evaluation of accounting policies, estimates, and judgment
  • Quality review of financial statements
  • Preparation and review of IFRS compliance checklists
  • Independent review of audit files to ensure completeness of documentation
  • End-to-end execution and review of email audits
  • Preparation of Management Letter Points (MLP), issue letters and Letter of Representation(LOR)
  • Preparation and review of compilation/liquidation/review reports
  • Audit file clean up and roll forward of CaseWare files
  • Assistance in consolidations and combinations and related workings

Internal audit:

  • Preparation and review of reports
  • Cash flow projections
  • Feasibility studies and company valuations
  • Project reports
  • Mergers & acquisitions support
  • Preparation and review of accounting policy manuals

AUDIT PROCESS

Why Buchprufer?

By using Buchprufer as your full-service audit outsourcing provider, you will garner the following benefits:

PEOPLE :

  • Highly experienced and professionally qualified staff (ACCA/CA/CMA/CPA) with proven audit and accounting skills
  • International orientation and awareness, along with experience in geographies including Middle East, Asia, and Europe.
  • Exposure in various sectors such as finance, manufacturing, construction, entertainment, service, retail, hospitality, healthcare, banking and many more
  • Comprehensive knowledge and experience in the application of International Financial Reporting Standards (IFRS) and International Standards on Auditing (ISA)

PROCESS :

  • Effective transition and migration process agreed upon with our clients
  • Dedicated teams for each customer
  • Reliable and timely delivery
  • Internal review and feedback processes ensure independent quality assurance and monitoring for all our engagements
  • Continuous training and development ofstaff, being an ACCA Platinum Employer.

TECHNOLOGY :

  • Expertise in using CaseWare Working Papers and CaseWare Financials
  • Equipped with the latest technology in both audit tools and information technology.
  • Focus on leveraging technologies to enable cost-effective solutions for our clients
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