The importance of regular audits

Services of audit firms are very important for any organization. Sayub & co. is an audit firm in Karachi, and understands the importance of auditing. Many businesses have internal audit committees, to keep a regular check and balance, but audit service from auditing firm is a bit different than those audit conducted internally by the organization itself.

Firstly, external audit reports are required, and are mandatory requirement for all publicly traded companies in Pakistan. The Securities Exchange Commission of Pakistan has made it mandatory for public companies to publish their audit reports. These audit reports must be obtained through an external auditor, who will then use the audit reports to inform the stakeholders of the organization. The audit report contains the auditors review and opinion for the organization from an auditor. This is to reflect the company’s position and activities that organization has been carrying out. The auditor’s report could directly affect the interest of investors, because it shows the reputation of the company/organization. The better the review the more interest of investors will be developed and vice versa, this is because, an auditor looks into transactions, accounts, assets, investments of the organization, and then matches everything stated by the organization in their accounts.

Other maintaining organization’s integrity for investors, audit reports are used for other purposes as well. It will help in valuation of the organization, if the owners are planning to sell their organization, the auditors evaluation of the assets of the organization will help the buyers place a value for the assets based on the auditor’s report. This will help at arriving at affair value for the organization.

An audit report could also help in court, and taxation. If the organization is under any court ordered investigation, the auditor’s report could help the organization present in the court, and as result of which it will be able to maintain its integrity in the court.

Sayub & co. is one of the renowned audit firms in Pakistan, it can help your organization with audit reports, it has a team of qualifies Chartered accountants, who will help your organization in obtaining a verified auditor’s reports. Which help you maintain compliance, and as well as other benefits that your organization can derive from the auditor’s reports. For more information contact now.