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Optimising the benefits of audit for our clients is our major priority. We
provide opinions in accordance with national statutory requirements and in
compliance with all relevant national and international regulations.
Audit & Assurance Services include the following:-
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Financial Statements Audit |
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Internal Audit Services |
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Cost Audits |
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Special Audits & Certifications |
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Review Services |
The salient features of each service are described below:
A major share of our services comprises of expressing independent opinions on the financial statements of our clients.
The idea at the heart of Shekha & Mufti audit practice is simple yet powerful. In today's environment, an auditor's judgment must be grounded in thorough knowledge of a client's industry and business and an audit's relevance must extend beyond financial statement risk alone if its value is to be fully realized.
The audit methodology is organized into four interdependent major processes designed to focus on the clients' business risks and how those risks affect our audit of the financial statements. These processes are:
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Establishing and monitoring engagement objective |
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Understanding business and financial statement risks |
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Responding to risk and delivering value |
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Concluding the audit and assess performance |
Internal Audit Services (IAS) focuses on managing business and operational risks
and identifying operational and profit improvement opportunities. It includes
the following primary services:
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Developing an understanding of the client's overall strategies and goals |
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Documentation of the entire business process. |
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Developing a short and long term risk-based audit plan that focuses on managing risk and identifying operational and / or profit improvement opportunities along with the resource requirements necessary to execute the plan. |
The firm looks after the internal audit functions of some of the companies quoted on Karachi Stock Exchange, which have outsourced their entire internal audit department to Shekha & Mufti.
Shekha & Mufti is involved in Cost Audits of a company engaged in sugar manufacturing, as
prescribed by the Securities & Exchange Commission of Pakistan.
The firm also looks after Special Audits and Certification Assignments’ outsourced by either the regulatory agencies or management of the business
entities. The firm has also been involved in an assignment outsourced by the
Sindh High Court involving litigation between an airline and a Commercial Bank.
Shekha & Mufti assists in the preparation of financial statements which are accompanied by
an accountants' report with limited assurance as to the fairness of
presentation.
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