The use of audit report

Audit reports in Pakistan, serve purposes more than just the statutory requirement. In Pakistan it is required by the Securities Exchange Commission of Pakistan, that all the publicly traded companies must publish their audit reports along with their financial statements. How an audit report is made is a different discussion, but what the following paragraphs are going to discuss is the use of the audit reports to highlight the importance of audit for businesses. An audit report derived when an external auditor checks the accounts of the business for any potential error and fraud. The auditor then creates a report, stating the facts, reasoning and the result of the tests the auditor had conducted. This report from an external auditor helps the stake holders.

For a layman, it is very hard to go through and assess the published accounts of the business, before making an investment in the business. The commissioned audit reports help from the audit firms in Pakistan, helps the layman understand the business activity. The audit report helps the reader have an inside look of the business from an unbiased and professional point of view. As the audit report is the opinion of the auditor.

This opinion or the audit report does not only help build trust of the layman, but also helps business attract new investors. If the business have been involved in getting audits in the past then these audit reports will help the business present true and fair value of the business. Creating ease during mergers and acquisitions. This flow of information can go both ways. It can also help the business looking to invest in other businesses, the audit report will help in assessment of the value of the business.

One other role that audit reports play, is help the business in legal matters. If any time in the future the business is under probe by government, or any other individual, the audit report will help clarify  the business position.

Sayub & co. is one of the audit firms in Karachi which will help your business in obtaining an auditor report. Sayub & co. was formed in 1992, and it has since maintained the level and quality of service it has been providing. For more information about our services please contact us today through email or phone.