Audit hold immense importance for businesses, both incorporated and unincorporated. It is a mandatory requirement by the securities exchange commission of Pakistan for the publicly traded companies, which means that companies that have their stocks listed in the Pakistan Stock Exchange must publish audit reports with their annual financial statements for the general public.
The audit report plays other vital roles as well, other than just a requirement by the Securities Exchange commission of Pakistan. Business that are not listed at the stock can also find the audit report useful. This is because an audit report is the evaluation of the business’s financial statements, it is to validate the financial statements published by the business. The audit report can prove to be an assurance for the stakeholders of the business. Such as, lenders, investors, banks, government, shareholders and much more. Each of these stake holders can use the audit report for a different purpose, but it would be because of the fact that they have an interest in business, which the business could use for the development. For example, a lender may be reluctant to lend to the business, because it cannot trust the business. With the audit report, the lender can have an unbiased evaluation of the business, and determine the risk attached to it. The audit report plays a similar role for other stake holders.
The audit report is generated through the help of audit firms, there are various audit firms in Pakistan that can provide services to the business, but the selection of the right audit firm in Pakistan is as important as the audit report. History is evident what could happen when an audit firms do not act according to the required manner, Arthur Andersen, a huge audit firm, faced probes because of the fact that it shredded documents for the audit of Enron.
Sayub & co. is an audit firm in Pakistan, which was established 25 years. Over the year we have evolved ourselves into a modern audit firm in Karachi. As an audit firm, we provide both assurance and non-assurance services to the business. We enable business to generate and true and fair audit report, which is not only beneficial to them but also is beneficial to the stakeholder attached to the business. We have a team of highly qualified chartered accountants, who will perform audit on your business as per the requirements of the Institute of Chartered Accountants Pakistan, and along that we will ensure that the highest of the ethical code is maintained. With Sayub & co. as your audit firm in Karachi, your business will be in safe hands. For more information of our services contact us today
No comments:
Post a Comment