Is your audit provider delivering the audit value you deserve?

Audit services are essential to establish credibility and build reputation - critically important assets in a global economy undermined by business scandals on multiple continents. Companies that successfully address audit issues improve the quality of their financial reporting and stand to gain credibility internationally with leading sources of capital.

Given the importance of audit services, many senior executives and audit committees look to Crowe Horwath International member firms for efficient procedures, the value of their work, and personal service. Your organization stands to gain in multiple areas - reputation, insight, service, and cost - by finding experienced auditors who truly value your business.

The scope of our audit practice is wide. As part of our commitment to be our clients' trusted business advisors, our audit services are designed to help clients meet both statutory obligations and their business objectives. Therefore, our assurance approach does not focus simply on the financial statements of an organization, but also on the organization's business operations.

Increasingly, organizations want advisors who can offer functional and technical skills combined with industry expertise and first-class project management.

Crowe Horwath First Trust is experienced in developing in its people a practical understanding of business, the expertise to comprehend relevant facts and apply sound judgement in arriving at solutions to suit the particular characteristics of each client's business. The assurance services we offer include:

Statutory Audit

Our Value Audit Approach

Our primary goals as statutory auditors is to render an opinion on the financial statements in accordance with generally accepted auditing standards. In addition, consistent with our commitment to offer full service business advisory, we seek to add value to our attest services by effectively communicating the business implications of our audit results.

To achieve these goals, we apply the following audit methodology to each of our audit engagement:

The traditional audit has focused on the bottom half of the diagram, auditing what is in the accounting records and checking the preparation of the financial statements. However, we believe our client's significant risks are at the top half of the diagram, where the actual or potential impact of important business events and issues may not be fully captured (example; competitor actions, current economic cycles, working capital requirements). 

Our partners and managers are actively involved in the planning and execution of the audit, which provides client direct access to the professionals most familiar with their businesses.

In order to ensure the maintenance of quality and the highest standards for all service provided, we have developed a Quality System in accordance with the requirements of the Singapore Standard on Quality Control and the Singapore Standard on Auditing. Our quality control procedures to ensure that our audit meet your requirements include:

  • A culture of continuous and upfront communication with clients
  • Appropriately skilled professional staff are assigned to service your engagement
  • All staff are subject to appropriate levels of reviews and supervision
  • Our findings are well supported and documented in the working papers
  • Where required, reports and deliverables are subject to independent reviews by at least one other audit Partner
  • Involvement and review by in-house technical support team
  • Planning and closing meetings are held with key management and personnel charged with corporate governance
  • Audit reports and management reports will be prepared and the opinion to be provided are discussion with management and those charged with governance prior to issuance.
Initial Public Offerings

Our dedicated Initial Public Offerings (IPO) Group has been specifically formed to assist companies to list on the various Asian stock exchanges.
Our comprehensive range of IPO services include:

  • Acting as IPO reporting accountant
  • Evaluating whether client's company is prepared for going public by identifying potential issues and assisting in the resolution of the problems
  • Introducing client to underwriters, attorneys, and other advisors essential to the public offering process
  • Auditing company's financial statements and accounting records to give an independent opinion on reports to shareholders, directors, and others
  • Addressing and resolving issues raised by the regulators
  • Advising on group restructuring
  • Assisting client in identifying the most favorable form of corporate holding structure to maximize tax efficiency
Financial Due Diligence

Most growing businesses will increasingly have to consider cross-border transactions such as setting up a branch or joint venture outside a home market or acquiring an overseas competitor. Our aim is to provide clients with clear insights into the viability and reliability of potential investments, acquisition, merger or joint venture projects. We also offer practical solutions to issues identified during the due diligence that may impact the investments in the future but should be considered during the investment negotiation stage.

Our key service scope includes the following:

  • Evaluating profitability, financial position, asset quality, liabilities, financial leverage and cash flows of the target company
  • Evaluating significant accounting policies adopted
  • Identifying adjustments to restate financial statements to Singapore Financial Reporting Standards or US GAAP
  • Assessing realization and recoverability of assets
  • Searching for under-accruals, unrecorded liabilities and off-balance-sheet transactions

Connect with us

Angeline Tan Crowe Horwath First Trust
Angeline Tan
Partner
Audit