In Pakistan it is required by the Securities Exchange Commission of Pakistan for publicly traded companies to publish an auditing report. This auditing report must be generated with the help of an external auditing firm. Which is supposed to visit and monitor the account of the company, and ensure that the company had followed all the rules and regulations while drawing up their annual financial statements. Moreover, it is to discover that here are fraudulent activates taking place within the company, as with publicly traded companies, there are a number of stakeholders attached to it. Non-disclosure of such facts could hurt the investors’ confidence, and also affect other stakeholders.
Sayub & co. is audit firm in Karachi. We believe that audit is more than just requirement in today’s world. Audit report dies have certain advantages to the businesses as well. For example, regular audit reports could help the owners in finding a buyer for their business, as the audit reports would be supporting the financial statements. Moreover, these audit reports would also help in compensation, incase if there are any insurance claims to be made. The audit reports will then act as a proof for the lost asset and then the business will be able to make a claim. The functions of audit reports go far beyond then just fulfilling a compliance or regulatory requirement. The audit report will certainly help in attaining a business loan, financial institutions give loans on the basis of audited statements. A business organization may be able to obtain loan considering the audited statement of last five years. So, an organization should have audit reports. Audit reports also help with tax assessment for the business, business can also plan for the future with the help of audit report, as it is representation of true position of the business, it can certainly provide figures and estimation for the future. It can also be used to help in court related matters, the audit report can be used to present facts and figures that can help in the determination of the case.
If you are looking for an auditor in Pakistan, Sayub & co. is one of the trusted audit firms in Pakistan, contact today for more help.
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