The primary purpose of the service is to implement an audit and provide clients with auditors' reports expressing an high-level assurance opinion on whether the financial statements give a true and fair view in accordance with the financial reporting framework or not. The client uses the auditor's report to submit to authorities (as required by laws) and/or stakeholders (to build trust and confidence).
There are four types of opinion depending on possible effects of matters on the financial statements: (1) Unmodified Opinion; (2) Qualified Opinion; (3) Reverse Opinion; (4) Disclaimer Opinion.
Companies and organizations who are subject to statutory audit by law such as:
Companies or NGO projects who are required by mother companies or fund sponsors to have the financial statements independently audited.
Any companies or organizations that wish to add credibility to the financial statements submitted to stakeholders such as investors, shareholders, suppliers, lenders, business partners. Audited financial statements with auditors' report will help clients to earn trust and confidence of stakeholders.
The service is delivered through the following steps:
Audit Methodology: We apply the risk-based methodology, which strictly meets the Standards of Audit and is in accordance with Crowe Global's Manual.
We always try to apply modern technology and tools to our work to increase automation and efficiency that will help to improve report quality, deadline commitment, confidentiality, and cost saving.
It depends very much on the scope of work and responses & cooperation from the client (including client's stakeholders such as suppliers/ customers/ lenders/ investors).
In reality, we usually manage to finish the service within 3 - 5 weeks in most cases. For urgent circumstances, we may apply special processes and resources together with active cooperation from the client.