Audit & Assurance -

Serving Globally

Audit & Assurance Services:

Overview

Accountronics® provides comprehensive audit and assurance services, offering independent and objective assessments of your financial statements and internal controls. Our experienced auditors deliver insightful reports, identify areas for improvement, and ensure compliance with regulatory standards. We enhance the credibility of your financial information, providing stakeholders with confidence and supporting informed decision-making. Trust Accountronics® for reliable and thorough audit and assurance services tailored to your business needs.

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Internal Audit

Strengthen your business with our independent internal audit services. Accountronics® provide objective assessments of your controls, processes, and risk management. Identify areas for improvement, enhance efficiency, and ensure compliance. Gain valuable insights to optimize performance and safeguard your assets.

Our services include:

Core Internal Audit Functions:

Risk Assessment and Audit Planning: Identifying key business risks across operations, compliance, and finance, and developing risk-based audit plans aligned with organizational objectives and regulatory requirements in each region.
Financial Audits: Evaluating the reliability and integrity of financial information, ensuring compliance with accounting standards (e.g., US GAAP, IFRS), and assessing the effectiveness of internal financial controls.
Operational Audits: Assessing the efficiency and effectiveness of operational processes, identifying areas for improvement in productivity, cost management, and resource utilization.
Compliance Audits: Reviewing adherence to relevant laws, regulations, and internal policies specific to each region (e.g., SOX in the US, GDPR in Europe, local labor laws).
Information Technology (IT) Audits: Evaluating the security, reliability, and effectiveness of IT systems and controls, including data security, cybersecurity, and disaster recovery planning.
Performance Audits: Assessing the effectiveness, efficiency, and economy of programs, projects, and functions to ensure value for money.
Fraud Audits and Investigations: Conducting investigations into suspected fraudulent activities and developing preventative measures.
Follow-up Audits: Tracking the implementation of audit recommendations and assessing their effectiveness.

Specialized Internal Audit Services:

Governance Audits: Evaluating the effectiveness of the organization's governance structures, processes, and ethical practices.
Environmental, Social, and Governance (ESG) Audits: Assessing the organization's performance and reporting on environmental, social, and governance factors, increasingly important in regions like Europe and North America.
Supply Chain Audits: Evaluating the risks and controls within the organization's supply chain.
Project Audits: Reviewing the management and execution of specific projects to ensure they are on track, within budget, and achieving their objectives.
Data Analytics in Internal Audit: Utilizing data analytics tools and techniques to identify trends, anomalies, and insights within large datasets to enhance audit effectiveness.
Continuous Auditing and Monitoring: Implementing technology-based solutions for continuous monitoring of key risk areas and controls.
Internal Audit Function Setup and Improvement: Assisting organizations in establishing a new internal audit function or improving the effectiveness and efficiency of an existing one.
Co-Sourcing and Outsourcing of Internal Audit: Providing internal audit expertise to supplement existing teams or fully outsourcing the internal audit function.
Training and Development for Internal Audit Staff: Offering customized training programs to enhance the skills and knowledge of internal audit teams.

Regional Focus:

US: Expertise in Sarbanes-Oxley (SOX) compliance, PCAOB auditing standards, and industry-specific regulations.
UK: Knowledge of UK Corporate Governance Code, Financial Reporting Council (FRC) guidance, and relevant UK laws.
Canada: Understanding of Canadian Securities Administrators (CSA) regulations, Canadian accounting standards (ASPE, IFRS), and provincial legislation.
UAE & Saudi Arabia: Familiarity with local regulatory requirements, including Central Bank regulations, Ministry of Economy guidelines, and Sharia-compliant practices where applicable.
Australia: Expertise in Australian Securities Exchange (ASX) Corporate Governance Principles, Australian Accounting Standards (AASBs), and relevant Australian laws.
Europe: Understanding of GDPR, EU directives, and diverse national regulations across European countries.
Pakistan: Expertise in local corporate laws, accounting standards, and regulatory requirements set by bodies like the State Bank of Pakistan and the Securities and Exchange Commission of Pakistan (SECP).

Operational Audit

Enhance efficiency and effectiveness with our operational audit services. Accountronics® evaluate your processes, workflows, and resource utilization to identify areas for optimization. Improve performance, reduce costs, and strengthen internal controls. Gain actionable insights for a streamlined and more profitable operation.

Here's the break down of the operational audit services we offer:

Core Operational Audits:

Efficiency and Effectiveness Audits: Evaluating the efficiency and effectiveness of key operational processes to identify areas for improvement, cost reduction, and enhanced performance.
Process Audits: Reviewing specific business processes (e.g., procurement, sales, manufacturing, logistics, customer service) to ensure they are well-designed, documented, and followed consistently.
Compliance Audits (Operational Aspects): Assessing adherence to internal policies, procedures, and relevant local laws and regulations impacting operations in each specific country (e.g., labor laws, environmental regulations, industry-specific standards).
Risk Assessment and Mitigation Audits: Identifying operational risks and evaluating the adequacy and effectiveness of internal controls designed to mitigate those risks.
Value for Money Audits: Examining whether resources are being used economically, efficiently, and effectively to achieve organizational objectives.

Specific Operational Area Audits:

Supply Chain Audits: Evaluating the efficiency, security, and resilience of the supply chain, including sourcing, procurement, inventory management, and logistics.
Production/Manufacturing Audits: Assessing the efficiency, quality control, safety, and environmental impact of production processes.
Information Technology (IT) Operational Audits: Reviewing IT infrastructure, systems, data security, and operational controls to ensure efficiency, reliability, and security (considering local data protection laws like GDPR in Europe or PIPEDA in Canada).
Human Resources (HR) Operational Audits: Evaluating HR policies, procedures, recruitment, training, performance management, and compliance with local employment laws.
Sales and Marketing Operational Audits: Assessing the effectiveness of sales processes, marketing campaigns, customer relationship management, and adherence to ethical sales practices in each region.
Financial Operations Audits: Reviewing the efficiency and effectiveness of finance-related operational processes, such as accounts payable, accounts receivable, and treasury functions.
Project Management Audits: Evaluating the planning, execution, and control of projects to ensure they are delivered on time, within budget, and to the required quality standards.
Environmental, Health, and Safety (EHS) Audits: Assessing compliance with local environmental regulations and safety standards in each operating country.
Branch/Subsidiary Operational Audits: Evaluating the operations of geographically dispersed units to ensure consistency, efficiency, and compliance with overall organizational policies and local regulations.

Specialized Operational Audits:

Forensic Operational Audits: Investigating potential fraud, waste, or abuse within operational processes.
Post-Merger/Acquisition Operational Integration Audits: Assessing the integration of operational processes following a merger or acquisition to identify synergies and potential conflicts.
Sustainability and Corporate Social Responsibility (CSR) Operational Audits: Evaluating the operational aspects of a company's sustainability initiatives and CSR commitments, considering local stakeholder expectations.

Our Approach:

Our operational audit services are conducted by experienced professionals with a deep understanding of local business practices and regulations in each of the listed countries. We utilize a risk-based approach, focusing on areas that pose the greatest potential impact to your organization. Our audits are designed to be collaborative, providing actionable recommendations to improve efficiency, reduce costs, and enhance overall operational performance while ensuring compliance within each specific regional context. We tailor our audit scope and procedures to meet your specific needs and objectives in each geographic location.

Agreed-upon Procedures

Gain focused assurance with our agreed-upon procedures (AUP) services. Accountronics® perform specific tasks and report factual findings based on your defined scope. Ideal for targeted reviews, due diligence, or verifying specific information. Get clear, objective results tailored to your unique needs and decision-making.

Here's the break down of potential AUP services we offer in these regions:

Financial and Accounting Procedures:

Verification of Account Balances: Agreeing on procedures to verify specific account balances (e.g., cash, accounts receivable, accounts payable) through confirmations, reconciliations, and other agreed-upon tests.
Review of Specific Transactions: Performing procedures on selected transactions (e.g., sales invoices, purchase orders, expense reports) to assess their accuracy, completeness, and compliance with specific criteria.
Inventory Observation Procedures: Attending and performing agreed-upon procedures related to physical inventory counts, such as test counts and observation of client procedures.
Fixed Asset Verification: Performing procedures to verify the existence, condition, and ownership of selected fixed assets.
Payroll Procedures: Examining payroll records for accuracy of calculations, adherence to tax regulations, and consistency with employment agreements (considering specific regulations in each country).
Revenue Recognition Procedures: Performing agreed-upon tests to assess the client's application of specific revenue recognition policies.
Expense Analysis Procedures: Analyzing specific categories of expenses based on agreed-upon criteria (e.g., supporting documentation, approval processes).

Compliance and Regulatory Procedures:

Compliance with Specific Laws and Regulations: Performing procedures to assess compliance with specific local laws, regulations, or contractual obligations relevant to each country (e.g., GDPR in Europe, SOX in the US, VAT regulations in the UK and Europe, Zakat in Saudi Arabia, local tax laws in Pakistan, UAE, Canada, and Australia).
Anti-Money Laundering (AML) Procedures: Performing agreed-upon procedures to assess compliance with specific AML policies and regulations in each jurisdiction.
Internal Controls Procedures: Evaluating the design and implementation of specific internal controls based on agreed-upon criteria.
Grant Compliance Procedures: Performing procedures to verify compliance with the terms and conditions of specific grants or funding agreements.
Specific Industry Procedures:
- Real Estate Procedures: Reviewing lease agreements, verifying rental income, and examining property-related expenses.
- Not-for-Profit Procedures: Examining donation records, verifying expenditure restrictions, and reviewing compliance with donor agreements.
- Financial Services Procedures: Performing procedures on specific aspects of financial institutions' operations as agreed upon with regulators or management.
Technology and Data-Related Procedures:
- Verification of Data Accuracy: Agreeing selected data points from IT systems to source documents.
- Review of System Access Controls: Performing procedures to assess the existence and effectiveness of specific user access controls within IT systems.
- Data Reconciliation Procedures: Performing procedures to reconcile data between different systems or reports.
Internal Audit Support Procedures:
- Performing Specific Internal Audit Tasks: Assisting internal audit departments by performing agreed-upon procedures as part of their audit plan.
- Follow-up on Internal Audit Findings: Performing procedures to verify the implementation of corrective actions related to prior internal audit findings.
Fraud and Forensic-Related Procedures:
- Investigation of Specific Allegations: Performing agreed-upon procedures to gather factual information related to specific allegations of fraud or misconduct.
- Tracing of Funds: Following the movement of funds through financial records based on specific instructions.
Reporting:
- Preparation of Factual Findings Reports: Documenting the procedures performed and the factual findings obtained in a clear and concise report, tailored to the requirements of the client and intended users in each jurisdiction.

Operational and Other Procedures:

Customer Due Diligence Procedures: Performing agreed-upon procedures related to the collection and verification of customer information.
Supplier Verification Procedures: Performing procedures to verify the existence and legitimacy of suppliers.
Website Compliance Reviews: Performing agreed-upon procedures to assess compliance of websites with specific legal or regulatory requirements in each region.
Data Security Procedures: Performing agreed-upon procedures to evaluate specific aspects of data security controls.
Royalty Audits: Performing agreed-upon procedures to verify the accuracy of royalty calculations and payments based on licensing agreements.
Performance Metric Verification: Performing procedures to verify the accuracy and reliability of specific performance metrics reported by the client.
Environmental, Social, and Governance (ESG) Reporting Procedures: Performing agreed-upon procedures on specific ESG disclosures based on defined criteria and reporting frameworks relevant in each region.

Specific Regional Considerations:

US: Focus on GAAP compliance, SOX requirements for public companies, and specific industry regulations.
UK: Emphasis on IFRS (if applicable), Companies Act requirements, and HMRC regulations (VAT, PAYE).
Canada: Focus on Canadian GAAP, provincial tax regulations, and specific industry requirements.
UAE: Compliance with local commercial laws, VAT regulations, and specific free zone requirements.
Australia: Emphasis on Australian Accounting Standards (AASBs), GST regulations, and corporate governance standards.
Europe: Adherence to IFRS, local GAAP in specific countries, VAT regulations across the EU, and data privacy regulations like GDPR.
Saudi Arabia: Compliance with local accounting standards, Zakat and income tax regulations, and commercial laws.
Pakistan: Adherence to local accounting standards, income tax regulations, and corporate laws.

Our AUP engagements are designed to provide factual findings based on the agreed-upon scope and procedures. We do not express an opinion or conclusion on the subject matter. The report is restricted to the parties who have agreed to the procedures.

Financial Audit

Financial audit services offer an independent examination of your financial statements, providing reasonable assurance on their fairness and accuracy. Accountronics® assess your accounting practices, internal controls, and compliance, enhancing stakeholder trust and the credibility of your financial reporting.

Core Financial Audit Services (Across all regions):
- Statutory Audits: Independent examinations of a company's financial statements conducted to provide an opinion on whether they present a true and fair view (or equivalent) in accordance with the applicable accounting standards and legal requirements of each jurisdiction (e.g., US GAAP, IFRS as adopted locally, specific country GAAP).
- Internal Audit Services: Assisting organizations in evaluating and improving the effectiveness of their internal control, risk management, and governance processes. This can include:
  - Developing internal audit plans.
  - Performing operational, financial, and compliance audits.
  - Providing recommendations for process improvements.
  - Assisting with the implementation of internal controls.
- Compliance Audits: Verifying adherence to specific laws, regulations, contractual obligations, and internal policies relevant to each region and the client's industry.
- Special Purpose Audits: Conducting audits for specific purposes, such as due diligence for mergers and acquisitions, forensic audits to investigate potential fraud, or audits required by regulatory bodies for specific reasons.
- Review Engagements: Providing a limited assurance engagement on financial statements, offering a lower level of assurance than a full audit.
- Agreed-Upon Procedures Engagements: Performing specific procedures agreed upon with the client and reporting the factual findings.
Region-Specific Considerations and Services:
1. United States (US):
- Audits of Financial Statements in accordance with US GAAP: Ensuring compliance with Generally Accepted Accounting Principles (US GAAP) as issued by the Financial Accounting Standards Board (FASB).
- Audits under the Sarbanes-Oxley Act (SOX): Providing integrated audits of financial statements and internal controls over financial reporting for publicly traded companies, as required by SOX Section 404.
- Audits of Employee Benefit Plans: Conducting audits of 401(k) plans and other employee benefit plans under ERISA regulations.
- Government Auditing Standards (GAGAS) Audits: Performing audits of government entities and non-profit organizations in accordance with Yellow Book requirements.
2. United Kingdom (UK):
- Statutory Audits under the Companies Act 2006: Ensuring compliance with UK accounting standards (FRS 102 or IFRS as adopted by the UK) and the requirements of the Companies Act.
- Audits of Charities and Not-for-Profit Organizations: Conducting audits in accordance with the Charities Act and relevant SORP (Statement of Recommended Practice).
- Internal Audit Services in line with UK Corporate Governance Code: Assisting companies in meeting the internal audit requirements of the UK Corporate Governance Code.
3. Canada:
- Audits of Financial Statements in accordance with Canadian GAAP (ASPE or IFRS): Ensuring compliance with Accounting Standards for Private Enterprises (ASPE) or International Financial Reporting Standards (IFRS) as applicable in Canada.
- Audits of Not-for-Profit Organizations: Conducting audits in accordance with the Canadian Not-for-Profit Organizations Handbook.
- Internal Audit Services in line with Canadian corporate governance guidelines: Assisting companies in meeting their internal audit needs.
4. United Arab Emirates (UAE):
- Statutory Audits under the UAE Commercial Companies Law: Conducting audits in accordance with International Financial Reporting Standards (IFRS) as the prevalent accounting framework and the requirements of the Commercial Companies Law.
- Free Zone Audits: Providing audit services to companies operating within the various free zones, adhering to their specific regulations.
5. Australia:
- Statutory Audits under the Corporations Act 2001: Ensuring compliance with Australian Accounting Standards (AASBs), which are largely based on IFRS, and the requirements of the Corporations Act.
- Audits of Self-Managed Superannuation Funds (SMSFs): Conducting audits of SMSFs as required by superannuation legislation.
6. Europe:
- Statutory Audits in accordance with local GAAP and IFRS: Providing audit services that comply with the specific national accounting standards of individual European countries (e.g., German GAAP (HGB), French GAAP (PCG)) as well as IFRS, which is widely adopted or permitted across the EU. We tailor our approach to the specific regulations of each European nation our clients operate in.
- Cross-border Audit Coordination: Managing audits for multinational companies with operations across multiple European countries, ensuring consistency and efficiency.
7. Saudi Arabia:
- Statutory Audits in accordance with Saudi Accounting Standards: Ensuring compliance with accounting standards issued by the Saudi Organization for Chartered and Professional Accountants (SOCPA) and the requirements of the relevant commercial laws.
8. Pakistan:
- Statutory Audits under the Companies Act 2017: Conducting audits in accordance with accounting standards approved and notified under the Companies Act 2017 and the requirements of the Act.
Our Approach:
Across all these regions, Accountronics® is committed to:
- Understanding Local Regulations: Maintaining up-to-date knowledge of the specific accounting standards, legal requirements, and reporting frameworks in each jurisdiction.
- Experienced Audit Professionals: Deploying audit teams with the relevant expertise and understanding of the local business environment.
- Risk-Based Audit Approach: Focusing our audit efforts on areas with the highest risk of material misstatement.
- Technology-Driven Audits: Utilizing advanced audit software and data analytics to enhance efficiency and provide deeper insights.
- Clear and Constructive Communication: Maintaining open communication with clients throughout the audit process.
- Independent and Objective Opinions: Providing unbiased and objective opinions on the financial statements.

Accountronics® leverages its global network and expertise to ensure that our audit and assurance services are conducted with a deep understanding of the local business environment, regulatory landscape, and accounting standards.

Integrated Audit

Integrated audit services provide a holistic assessment of your organization's financial reporting and internal controls. Accountronics® evaluate both simultaneously, offering a comprehensive view of risks and opportunities. Enhance efficiency, improve compliance, and gain deeper insights with our integrated approach.

Here's a breakdown of the services we offer in each region, keeping in mind local regulations and standards:

Core Integrated Audit Services (Globally Consistent):

Financial Statement Audits: Independent examination and opinion on the fairness of your financial statements in accordance with relevant accounting standards (e.g., US GAAP, IFRS, local GAAP).
Operational Audits: Evaluating the efficiency and effectiveness of your organization's operations, identifying areas for improvement and cost savings.
Compliance Audits: Assessing adherence to applicable laws, regulations, internal policies, and contractual obligations specific to each region and industry.
Internal Control Reviews: Evaluating the design and operating effectiveness of your internal control framework to mitigate risks.
Risk Assessments: Identifying, analyzing, and evaluating key business risks across financial, operational, and compliance domains.
IT Audits: Assessing the security, reliability, and efficiency of your information technology systems and controls.
Forensic Audits: Investigating potential fraud, financial irregularities, and misconduct.

Region-Specific Considerations:

USA:
- Compliance with Sarbanes-Oxley Act (SOX) for public companies.
- Audits in accordance with PCAOB standards for public companies and AICPA standards for private companies.
- Focus on industry-specific regulations (e.g., FDA for healthcare, SEC for financial services).
UK:
- Audits in accordance with UK GAAP and ISAs (UK).
- Compliance with the Companies Act 2006 and other relevant legislation.
- Emphasis on corporate governance and reporting requirements.
Canada:
- Audits in accordance with Canadian GAAP (ASPE or IFRS) and Canadian Auditing Standards (CAS).
- Consideration of provincial regulations and reporting requirements.
UAE:
- Audits in accordance with IFRS and local regulations (e.g., Commercial Companies Law).
- Focus on compliance with UAE Federal Tax Authority requirements and anti-money laundering regulations.
- Specific requirements for audits in free zones.
Australia:
- Audits in accordance with Australian Accounting Standards (AASB) and Australian Auditing Standards (ASAs).
- Compliance with the Corporations Act 2001 and other relevant legislation.
- Emphasis on corporate governance and continuous disclosure requirements.
Europe:
- Audits generally in accordance with IFRS and International Standards on Auditing (ISAs).
- Adherence to specific national accounting standards and regulations within individual European countries (e.g., German GAAP, French GAAP).
- Compliance with GDPR for data privacy.
Saudi Arabia:
- Audits in accordance with Saudi Organization for Certified Public Accountants (SOCPA) standards and local regulations.
- Focus on compliance with Zakat and Income Tax regulations.
- Understanding of the unique business environment and cultural context.
Pakistan:
- Audits in accordance with local accounting standards (Pakistani GAAP) and International Standards on Auditing (ISAs) as adopted in Pakistan.
- Compliance with the Companies Act 2017 and other relevant regulations issued by the Securities and Exchange Commission of Pakistan (SECP).
- Understanding of the local business environment and regulatory landscape.

Our Integrated Approach Benefits You:

Holistic Risk Assessment: We identify interconnected risks across different areas of your business.
Efficient Audit Process: Combining audits reduces duplication of effort and streamlines the process.
Deeper Insights: Our integrated view provides a more comprehensive understanding of your organization's strengths and weaknesses.
Cost-Effectiveness: Often more efficient than conducting separate audits.
Consistent Reporting: Provides a unified view of your risk and control environment for stakeholders.

Accountronics® leverages experienced professionals with in-depth knowledge of the specific regulations and business environments in each of these regions to deliver high-quality, value-added integrated audit services.

Compilations

Our compilation services for businesses and corporations present your financial data in a clear and organized format, without providing assurance. Accountronics® compile financial statements based on information you provide, adhering to accounting standards. Useful for internal reporting and specific stakeholder needs.

Here's a breakdown tailored to the specific nuances of each region:

Core Compilation Services (Generally Applicable Across Regions):

Financial Statement Preparation: Taking management-provided financial data and preparing financial statements, including the balance sheet, income statement, statement of cash flows, and statement of changes in equity (where applicable).
Formatting and Presentation: Ensuring the financial statements are presented in a clear, concise, and organized manner, adhering to the basic accounting framework of the specific region.
Footnote Disclosures (Limited): While compilation services don't require extensive footnotes like audited statements, we can include basic disclosures as provided by management and deemed necessary for fair presentation based on the applicable framework.
Compilation Report: Issuing a compilation report that clearly states that no audit or review was performed and, consequently, no opinion or assurance is expressed on the financial statements.

Region-Specific Considerations:

United States (US):
- Applicable Standards: Statements on Standards for Accounting and Review Services (SSARS) issued by the Accounting and Review Services Committee (ARSC) of the AICPA.
- Emphasis: Focus on presenting financial information in accordance with a specified financial reporting framework (e.g., GAAP, cash basis, tax basis).
- Potential Uses: Often used for small businesses, tax filings, or internal management purposes where audited or reviewed financials are not required.
United Kingdom (UK):
- Applicable Standards: Ethical Standard and relevant guidance issued by the Financial Reporting Council (FRC) and the ICAEW.
- Emphasis: Presenting financial information in accordance with UK GAAP (FRS 102, FRS 105 for micro-entities).
- Potential Uses: Suitable for smaller companies not subject to statutory audit requirements.
Canada:
- Applicable Standards: Section 9200, Compilation Engagements, of the CPA Canada Handbook – Assurance.
- Emphasis: Preparation of financial information based on management's assertions and the applicable accounting standards for the entity (e.g., ASPE, ASNPO, ASNFPO).
- Potential Uses: Common for small to medium-sized enterprises (SMEs) and not-for-profit organizations where a higher level of assurance is not mandated.
United Arab Emirates (UAE) & Saudi Arabia:
- Applicable Standards: Often follow International Financial Reporting Standards (IFRS) or IFRS for SMEs as the basis for financial statement preparation. Local regulations and accounting standards may also apply.
- Emphasis: Presenting financial information in compliance with the prevalent accounting framework in the respective country.
- Potential Uses: Can be utilized by businesses for various purposes, including regulatory filings (depending on the specific requirements) and internal decision-making.
Australia:
- Applicable Standards: Australian Accounting Standards (AASBs) issued by the Australian Accounting Standards Board (AASB). Guidance from the Auditing and Assurance Standards Board (AUASB) may also be relevant.
- Emphasis: Presenting financial information in accordance with Australian GAAP.
- Potential Uses: May be suitable for smaller entities or specific reporting requirements where a full audit or review is not necessary.
Europe:
- Applicable Standards: Varies by country but generally aligns with or is influenced by International Financial Reporting Standards (IFRS) or local GAAP within each European nation. Professional accountancy bodies in each country provide specific guidance.
- Emphasis: Adhering to the specific accounting framework of the relevant European country.
- Potential Uses: Depends on the size and regulatory requirements of the business within each European jurisdiction.
Pakistan:
- Applicable Standards: Companies Act, 2017, and accounting standards approved by the Institute of Chartered Accountants of Pakistan (ICAP), which are largely based on IFRS.
- Emphasis: Presenting financial information in accordance with the Companies Act and the applicable accounting standards in Pakistan.
- Potential Uses: May be used by smaller companies or for specific reporting purposes where a statutory audit is not mandated.

Our Role in Compilation Services:

Across all these regions, Accountronics® will:

Clearly understand the purpose and intended use of the compiled financial statements.
Obtain sufficient information from management to prepare the financial statements.
Apply accounting expertise to format and present the financial information appropriately based on the relevant framework.
Issue a compilation report that explicitly states the lack of assurance.
Maintain professional ethics and independence (where applicable for compilation engagements).

Important Note: Compilation services are not a substitute for audits or reviews. They provide no assurance on the accuracy or completeness of the financial information provided by management. The level of service and specific procedures may be further tailored based on the client's needs and the specific regulatory environment of each country. We will always ensure our compilation engagements comply with the ethical and professional standards applicable in each jurisdiction.

Financial Assurance

Financial Assurance services provide independent and objective evaluations of your financial information and processes. Accountronics® enhance the credibility and reliability of your financial reporting, strengthen internal controls, and ensure compliance. Build stakeholder confidence and make informed decisions with our expert assurance services.

Here's a breakdown tailored to the specific nuances of each region:

Core Financial Assurance Services (Globally Consistent):

Independent Financial Audits: Conducting statutory and regulatory audits of financial statements to provide an independent opinion on their fairness and accuracy in accordance with relevant accounting standards (e.g., US GAAP, IFRS).
Internal Audit Services: Assisting organizations in establishing, improving, and executing their internal audit functions, assessing risk management, internal controls, and governance processes.
Compliance Audits: Verifying adherence to specific laws, regulations, contractual obligations, and internal policies relevant to each region (e.g., SOX in the US, Companies Act in the UK).
Risk Assessment Services: Identifying, evaluating, and prioritizing financial and operational risks to help organizations develop mitigation strategies.
Fraud Detection and Prevention: Implementing procedures and controls to detect and prevent fraudulent activities, including forensic accounting investigations when necessary.
Review Engagements: Providing a limited assurance engagement on financial statements, offering less scope than a full audit but still providing a level of comfort.

Region-Specific Financial Assurance Services:

1. United States (US):

SOX Compliance Audits: Assisting publicly traded companies with compliance requirements under the Sarbanes-Oxley Act, particularly Sections 302 and 404.
PCAOB Audits: Conducting audits of public companies in accordance with the standards of the Public Company Accounting Oversight Board.
AICPA Agreed-Upon Procedures: Performing specific procedures agreed upon with the client and issuing a report of findings.
Employee Benefit Plan Audits (ERISA): Auditing the financial statements of employee benefit plans subject to the Employee Retirement Income Security Act.

2. United Kingdom (UK):

Statutory Audits under the Companies Act: Conducting audits of companies that meet specific size criteria as mandated by UK law.
Internal Audit in accordance with UK Corporate Governance Code: Assisting companies in meeting the internal audit requirements outlined in the UK Corporate Governance Code.
Financial Services Authority (FSA)/Prudential Regulation Authority (PRA) Regulatory Reviews: Conducting assurance engagements specific to the financial services sector.

3. Canada:

Statutory Audits under the Canada Business Corporations Act (CBCA) and provincial equivalents: Performing audits of companies as required by Canadian corporate law.
Review Engagements under Canadian Standards on Review Engagements (CSRE): Providing review services in accordance with Canadian standards.
Internal Audit in accordance with best practices and guidelines issued by the Institute of Internal Auditors (IIA) Canada.

4. United Arab Emirates (UAE):

Statutory Audits under the UAE Commercial Companies Law: Conducting mandatory audits for certain types of companies operating in the UAE.
Free Zone Specific Audits: Performing audits required by various Free Zone authorities within the UAE.
Compliance with Central Bank Regulations: Providing assurance services related to compliance with the regulations issued by the Central Bank of the UAE, particularly for financial institutions.

5. Australia:

Statutory Audits under the Corporations Act 2001: Conducting audits of companies as mandated by Australian corporate law.
Review Engagements under Australian Standards on Review Engagements (ASRE): Providing review services in accordance with Australian standards.
Self-Managed Superannuation Fund (SMSF) Audits: Conducting audits of SMSFs as required by Australian regulations.

6. Europe:

Compliance with EU Directives: Ensuring audits meet the requirements of relevant EU Directives, which are then implemented in the national laws of individual European countries.
Statutory Audits under National Laws: Conducting audits as required by the specific corporate laws of countries within Europe (e.g., Germany, France, Italy, Spain).
Internal Audit in accordance with best practices and standards relevant to the specific European country.

7. Saudi Arabia:

Statutory Audits under the Saudi Companies Law: Performing mandatory audits for companies operating in Saudi Arabia.
Compliance with Zakat Regulations: Providing assurance services related to the calculation and compliance with Zakat (Islamic obligatory charity).
Internal Audit in accordance with local regulations and best practices.

8. Pakistan:

Statutory Audits under the Companies Act, 2017: Conducting audits of companies as required by Pakistani corporate law.
Review Engagements under International Standards on Review Engagements (ISRE) as adopted locally.
Tax Audits: Assisting with audits conducted by the Federal Board of Revenue (FBR).
Internal Audit in accordance with local regulations and best practices.

Forensic Audit

Uncover financial irregularities with our forensic audit services. Accountronics® meticulously investigate suspected fraud, embezzlement, and financial misconduct. Our expert team employs specialized techniques to identify, analyze, and document financial evidence, providing clear insights for legal proceedings and recovery of losses.

I. Investigation and Fact-Finding:

Fraud Investigations: Examining allegations of fraud, including asset misappropriation, financial statement fraud, bribery, corruption, and cyber fraud. We employ meticulous data analysis, document review, and interviews to uncover the truth.
Financial Misconduct Investigations: Investigating potential breaches of fiduciary duty, conflicts of interest, and other financial improprieties within organizations.
Asset Tracing: Identifying and tracing illicitly obtained assets, both domestically and internationally, to facilitate recovery.
Due Diligence (Forensic Focus): Conducting in-depth background checks and financial investigations during mergers, acquisitions, or joint ventures to identify potential red flags and undisclosed liabilities.
Whistleblower Allegation Investigations: Independently investigating claims raised by whistleblowers, ensuring confidentiality and compliance with local whistleblower protection laws (e.g., Dodd-Frank Act in the US, Public Interest Disclosure Act in the UK).
Data Breach and Cybercrime Investigations: Analyzing digital evidence to identify the source and extent of data breaches, financial cybercrimes, and intellectual property theft.

II. Evidence Gathering and Analysis:

Document Review and Analysis: Systematically reviewing and analyzing large volumes of financial records, emails, and other documents to identify anomalies and patterns of suspicious activity.
Electronic Discovery (E-Discovery): Utilizing specialized tools and techniques to identify, preserve, collect, and analyze electronic data relevant to the investigation, adhering to local e-discovery rules and regulations.
Forensic Accounting Analysis: Applying accounting and auditing principles to analyze financial data, reconstruct financial transactions, and identify irregularities.
Financial Modeling and Analysis: Developing financial models to quantify losses, assess the impact of fraud, and support potential recovery efforts.
Interview and Interrogation: Conducting interviews with witnesses, suspects, and other relevant parties to gather information and evidence, adhering to legal protocols in each jurisdiction.
Surveillance and Information Gathering (where legally permissible): Employing ethical and legal surveillance techniques to gather corroborating evidence.

III. Reporting and Remediation:

Forensic Audit Reports: Preparing clear, concise, and well-supported reports detailing the findings of the investigation, including the nature and extent of the fraud or misconduct, the parties involved, and the financial impact. Our reports are suitable for legal proceedings and regulatory submissions, adhering to the specific reporting standards of each region.
Recommendations for Remediation: Providing practical recommendations for strengthening internal controls, improving governance processes, and preventing future occurrences of fraud or misconduct.
Litigation Support: Assisting legal counsel in preparing for litigation, providing expert witness testimony, and supporting settlement negotiations. Our experts are familiar with the legal systems in the US, UK, Canada, UAE, Australia, Europe, Saudi Arabia, and Pakistan.
Regulatory Compliance Support: Assisting clients in complying with local regulatory requirements related to fraud detection, prevention, and reporting (e.g., FCPA in the US, Bribery Act in the UK).
Fraud Risk Assessments: Conducting proactive assessments to identify and evaluate potential fraud risks within an organization and developing mitigation strategies.
Training and Awareness Programs: Providing customized training programs to educate employees on fraud awareness, ethical conduct, and internal controls.

Regional Specific Considerations:

US: Familiarity with the Federal Rules of Civil Procedure, Sarbanes-Oxley Act (SOX), and the Foreign Corrupt Practices Act (FCPA).
UK: Expertise in the Bribery Act 2010, Proceeds of Crime Act 2002, and relevant insolvency legislation.
Canada: Understanding of the Criminal Code, Corruption of Foreign Public Officials Act, and provincial securities laws.
UAE: Knowledge of the UAE Penal Code, anti-corruption laws, and the DIFC and ADGM legal frameworks.
Australia: Expertise in the Crimes Act 1914, Corporations Act 2001, and the Foreign Bribery Offences Act 1999.
Europe: Navigating the diverse legal systems and anti-fraud regulations across EU member states, including GDPR considerations during data breach investigations.
Saudi Arabia: Understanding the Kingdom's anti-corruption laws and regulations.
Pakistan: Expertise in the Prevention of Corruption Act and other relevant financial crime legislation.

Our team of experienced forensic accountants, investigators, and technology specialists is equipped to handle complex and cross-border investigations, ensuring adherence to the highest ethical standards and legal requirements in each jurisdiction.

Investigation

Accountronics® discreet investigation services for businesses and corporations uncover fraud, misconduct, and irregularities. Accountronics® provide thorough and confidential inquiries, gathering evidence for informed decision-making, legal action, and protecting your reputation and assets. Trust our expertise for sensitive and impactful investigations.

Here's a breakdown of potential investigation services, keeping in mind the need for localized expertise and legal compliance:

1. Financial Investigations:

Fraud Investigations: Examining financial records and transactions to detect and analyze fraudulent activities such as embezzlement, Ponzi schemes, corruption, and financial statement fraud. This involves forensic accounting techniques to trace illicit funds and identify perpetrators.
- US: Focus on federal and state fraud statutes, collaboration with law enforcement (FBI, SEC), and adherence to evidence rules.
- UK: Expertise in the Fraud Act 2006, working with the Serious Fraud Office (SFO) and police.
- Canada: Understanding the Criminal Code provisions related to fraud and working with the RCMP and provincial police.
- UAE & Saudi Arabia: Navigating Sharia law principles related to financial misconduct and local financial regulations.
- Australia: Adherence to the Crimes Act 1914 (Cth) and state-based fraud legislation, collaboration with the Australian Federal Police (AFP).
- Europe: Compliance with individual EU member state laws, potentially involving cross-border investigations with Europol's support.
- Pakistan: Understanding the Prevention of Corruption Act and the National Accountability Bureau (NAB) framework.
Asset Tracing and Recovery: Identifying and locating hidden or transferred assets resulting from illegal activities. This often involves complex financial analysis and international cooperation.
- Requires understanding of property laws, offshore jurisdictions, and legal mechanisms for asset seizure in each region.
Due Diligence Investigations (Enhanced): Conducting in-depth background checks on individuals and entities, including financial history, litigation records, and potential red flags for financial crime or reputational risks.
- Access to public records, credit bureaus (where permissible), and discreet inquiries, adhering to privacy laws in each jurisdiction (e.g., GDPR in Europe).
Forensic Accounting: Applying accounting principles and investigative techniques to uncover financial irregularities and provide expert testimony in legal proceedings.
- Requires adherence to local accounting standards and court procedures for expert witness testimony.

2. Business and Corporate Investigations:

Internal Investigations: Assisting companies in investigating allegations of employee misconduct, policy violations, harassment, or other internal issues.
- Compliance with employment laws and data protection regulations in each region is crucial.
Intellectual Property (IP) Infringement Investigations: Identifying and gathering evidence of trademark infringement, copyright violations, and patent infringement.
- Requires knowledge of local IP laws and collaboration with IP lawyers.
Competitive Intelligence Gathering (Ethical and Legal): Collecting and analyzing publicly available information about competitors to understand their strategies and activities.
- Strict adherence to ethical and legal boundaries, avoiding corporate espionage.
Supply Chain Investigations: Examining supply chains for ethical sourcing violations, counterfeiting, or other irregularities.
- Understanding local labor laws and international trade regulations.
Workplace Investigations: Addressing allegations of discrimination, bullying, or safety violations in the workplace, ensuring compliance with local labor laws.

3. Litigation Support Investigations:

Fact-Finding and Evidence Gathering: Conducting investigations to gather relevant facts and evidence to support legal cases.
- Adherence to rules of civil and criminal procedure in each jurisdiction.
Witness Identification and Interviews: Locating and interviewing potential witnesses.
- Compliance with local laws regarding witness interviews and recording.
Background Checks on Key Individuals: Conducting due diligence on witnesses, opposing parties, or other relevant individuals involved in litigation.
Document Review and Analysis: Assisting legal teams in reviewing and analyzing large volumes of documents to identify key evidence.
Digital Forensics: Recovering and analyzing electronic data (emails, documents, digital communications) relevant to investigations, adhering to local data privacy laws and electronic evidence rules.

4. Specialized Investigations:

Anti-Money Laundering (AML) Investigations: Assisting financial institutions and other regulated entities in investigating suspicious transactions and potential money laundering activities, complying with local AML regulations (e.g., FATF recommendations).
Counter-Terrorism Financing (CTF) Investigations: Supporting efforts to identify and disrupt the financing of terrorist activities, adhering to international and local CTF laws.
Cybercrime Investigations: Investigating incidents of hacking, data breaches, online fraud, and other cybercrimes, requiring expertise in digital forensics and local cybercrime laws.

Key Features of Accountronics®:

Local Expertise: Building a network of local investigators, legal counsel, and forensic specialists in each jurisdiction is essential to ensure compliance and effective service delivery.
Legal Compliance: Strict adherence to the laws and regulations of each country regarding data privacy, evidence collection, and investigative procedures is paramount.
Ethical Practices: Maintaining the highest ethical standards in all investigations.
Data Security: Implementing robust data security measures to protect sensitive information gathered during investigations, complying with local data protection laws (e.g., GDPR).
Language and Cultural Understanding: Employing investigators who are fluent in local languages and understand cultural nuances.
Technology and Tools: Utilizing appropriate technology and forensic tools relevant to each jurisdiction.

IT Assurance

IT Assurance services provide confidence in your technology environment. Accountronics® assess IT controls, security, and governance to ensure data integrity, system reliability, and regulatory compliance. Our services help you mitigate risks, protect assets, and build trust in your IT operations.

Our breakdown focuses on key areas tailored to the regulatory and business landscapes of each region:

I. IT Governance and Risk Management:

IT Governance Framework Development & Implementation: Assisting organizations in establishing and implementing IT governance frameworks aligned with local regulations and best practices (e.g., COBIT, ISO 27001). This includes defining roles, responsibilities, and decision-making processes.
IT Risk Assessment and Management: Identifying, assessing, and mitigating IT-related risks, including security vulnerabilities, operational disruptions, and compliance failures. Tailored to specific regional risk profiles and regulatory requirements (e.g., GDPR in Europe, CCPA in the US).
IT Policy and Procedure Development: Creating and implementing IT policies and procedures covering areas like data security, access control, business continuity, and disaster recovery, compliant with local laws and industry standards in each region.
IT Compliance Audits: Assessing adherence to relevant IT regulations and standards specific to each region (e.g., SOX in the US, PCI DSS for payment card data globally, local data protection laws).
Third-Party Risk Management: Evaluating the IT security and compliance posture of third-party vendors and service providers handling sensitive data or providing critical IT services, considering regional data transfer regulations.

II. Cybersecurity Assurance:

Vulnerability Assessment and Penetration Testing: Identifying security weaknesses in IT systems and infrastructure through simulated attacks, tailored to the common threat landscape in each region.
Security Architecture Review: Assessing the design and implementation of security controls to ensure they are robust and effective against local threat actors and attack vectors.
Data Security and Privacy Audits: Evaluating the controls and processes for protecting sensitive data and ensuring compliance with regional data privacy laws (e.g., GDPR, CCPA, PIPEDA, DIFC Data Protection Law).
Incident Response Planning and Testing: Developing and testing plans to effectively respond to and recover from cybersecurity incidents, considering local reporting requirements and legal obligations.
Security Awareness Training: Providing customized training programs to educate employees on cybersecurity best practices and local threats.
Cloud Security Reviews: Assessing the security controls and configurations of cloud-based services used by organizations in each region, ensuring compliance with local data residency and sovereignty requirements.

III. IT Operations and Infrastructure Assurance:

IT Infrastructure Review: Evaluating the performance, reliability, and security of IT infrastructure components, including networks, servers, and storage systems.
Business Continuity and Disaster Recovery Planning and Testing: Developing and testing plans to ensure business operations can continue or be quickly recovered in the event of disruptions, considering regional disaster risks and regulatory expectations.
Change Management Review: Assessing the processes for managing changes to IT systems to minimize risks and ensure stability.
IT Service Management (ITSM) Review: Evaluating the efficiency and effectiveness of IT service delivery processes based on frameworks like ITIL, adapted to local business needs.
Cloud Infrastructure Assurance: Reviewing the security, availability, and performance of cloud infrastructure deployments in each region.

IV. Data and Analytics Assurance:

Data Integrity and Quality Audits: Assessing the accuracy, completeness, and reliability of data used for business decision-making, considering local data governance regulations.
Data Privacy and Compliance Reviews: Ensuring that data collection, storage, processing, and disposal practices comply with relevant regional data privacy laws.
Analytics and Reporting Accuracy Reviews: Evaluating the processes and controls for generating accurate and reliable business intelligence reports.
AI and Machine Learning Assurance: Assessing the risks and controls associated with the use of AI and ML technologies, considering ethical and regulatory implications in each region.

V. Software and Application Assurance:

Software Development Lifecycle (SDLC) Security Review: Evaluating the security practices embedded within the software development process.
Application Security Testing: Identifying security vulnerabilities in custom-developed or third-party applications used by organizations in each region.
Data Migration Assurance: Reviewing the processes and controls for migrating data between systems, ensuring data integrity and security, especially across different regional data residency requirements.

Regional Considerations:

United States: Focus on SOX compliance, HIPAA (healthcare), GLBA (financial services), and state-specific data privacy laws like CCPA.
United Kingdom: Emphasis on GDPR, FCA regulations (financial services), and adherence to the National Cyber Security Centre (NCSC) guidelines.
Canada: Key considerations include PIPEDA (federal privacy law) and provincial privacy regulations.
UAE: Focus on the UAE Cybercrime Law, DIFC Data Protection Law, and sector-specific regulations.
Australia: Emphasis on the Privacy Act 1988 and mandatory data breach notification requirements.
Europe: Primarily GDPR compliance, NIS Directive (network and information security), and specific national regulations within EU member states.
Saudi Arabia: Focus on the National Cybersecurity Authority (NCA) regulations and data privacy laws.
Pakistan: Adherence to the Prevention of Electronic Crimes Act (PECA) and emerging data protection regulations.

IT Procedures Audit

An IT procedures audit rigorously examines your organization's IT processes, policies, and documentation. Accountronics® assess their effectiveness, efficiency, and alignment with best practices and regulatory requirements. Our services identify weaknesses, ensure compliance, and recommend improvements for a secure and well-managed IT environment.

Here's a breakdown of the services we provide:

1. IT Governance and Compliance Audit:

Policy and Procedure Review: We assess the existence, adequacy, and implementation of IT policies, standards, and procedures against industry best practices (e.g., ISO 27001, COBIT), local regulations (e.g., GDPR in Europe, PIPEDA in Canada, DFSA in UAE, SAMA in Saudi Arabia, local data protection laws in Pakistan), and relevant legal frameworks in the US (e.g., SOX, HIPAA).
Organizational Structure and Roles: We evaluate the IT organizational structure, roles, and responsibilities to ensure clear accountability and segregation of duties.
Risk Management Framework: We assess the IT risk management processes, including risk identification, assessment, treatment, and monitoring, tailored to the specific risks prevalent in each region.
Compliance Audits: We conduct audits to ensure adherence to specific regulations and standards relevant to each region and industry.

2. IT Security Audit:

Access Control Review: We evaluate logical and physical access controls to systems and data, ensuring appropriate authorization and authentication mechanisms are in place, considering local data privacy requirements.
Network Security Assessment: We assess the security of network infrastructure, including firewalls, intrusion detection/prevention systems, and wireless security protocols, aligned with regional cybersecurity best practices.
Data Security and Privacy Audit: We examine data storage, transmission, and disposal practices to ensure confidentiality, integrity, and availability of data, complying with local data protection laws.
Vulnerability Assessment and Penetration Testing: We conduct assessments to identify security weaknesses and simulate cyberattacks to evaluate the effectiveness of security controls, adapting methodologies to regional threat landscapes.
Incident Response Planning: We review the organization's incident response plan to ensure it is comprehensive and aligned with local reporting requirements and best practices.

3. IT Operations and Infrastructure Audit:

IT Infrastructure Review: We assess the performance, reliability, and scalability of IT infrastructure components, including hardware, software, and operating systems.
Change Management Audit: We evaluate the processes for managing changes to IT systems and infrastructure to minimize disruptions and ensure stability.
Business Continuity and Disaster Recovery Planning: We review the BCP/DR plans to ensure they are adequate, regularly tested, and aligned with regional disaster recovery best practices.
IT Service Management (ITSM) Framework Audit: We assess the implementation and effectiveness of ITSM processes based on frameworks like ITIL, adapting to regional business needs.
Data Backup and Recovery Procedures: We examine the procedures for backing up and restoring critical data to ensure business continuity in case of data loss, considering local data retention regulations.

4. Software and Application Audit:

Software Development Lifecycle (SDLC) Review: We assess the security and quality controls embedded within the software development process.
Application Security Testing: We conduct security testing of applications to identify vulnerabilities.
Data Integrity and Validation Controls: We evaluate the controls in place to ensure the accuracy and reliability of data processed by applications.
Third-Party Software and Integration Audit: We assess the risks associated with using third-party software and the security of integrations with other systems.

5. Emerging Technologies Audit:

Cloud Computing Audit: We assess the security, compliance, and governance of cloud-based services, considering regional data residency and regulatory requirements.
Mobile Device Management (MDM) Audit: We evaluate the policies and controls for managing and securing mobile devices used for business purposes.
Internet of Things (IoT) Security Audit: We assess the security risks associated with IoT devices and the controls in place to mitigate them.
Artificial Intelligence (AI) and Machine Learning (ML) Governance and Risk Audit: We evaluate the governance frameworks and risk management practices for AI/ML implementations.

Our approach involves understanding the specific business context, regulatory requirements, and industry best practices within each of these regions to deliver tailored and effective IT Procedures Audit Services.

Statutory Audit

Ensure regulatory compliance and stakeholder confidence with our statutory audit services. Accountronics® conduct independent examinations of your financial statements, providing assurance on their fairness and accuracy as mandated by law. Meet your legal obligations and gain credibility with our thorough and professional audits.

Statutory Audit services we offer:

Core Statutory Audit Services (Globally Consistent):

Independent Examination of Financial Statements: Conducting a thorough and unbiased review of a company's financial records, including the balance sheet, income statement, cash flow statement, and statement of changes in equity.
Compliance with Local Accounting Standards: Ensuring that the financial statements are prepared in accordance with the Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) as adopted by each specific country (e.g., US GAAP, UK GAAP, Canadian GAAP, IFRS as applied in the UAE, Australia, Europe, Saudi Arabia, and Pakistan)
Verification of Accuracy and Fairness: Providing an opinion on whether the financial statements present a true and fair view of the company's financial position, performance, and cash flows.
Risk Assessment: Identifying and assessing the risks of material misstatement in the financial statements due to fraud or error.
Internal Control Evaluation: Understanding the company's internal control systems relevant to financial reporting to plan the audit procedures.
Audit Procedures: Performing tests of transactions, account balances, and disclosures to gather sufficient and appropriate audit evidence.
Communication with Management and Governance: Reporting audit findings, including any significant deficiencies in internal control, to management and those charged with governance (e.g., board of directors, audit committee).
Audit Report Issuance: Providing an independent auditor's report expressing an opinion on the fairness of the financial statements. This report adheres to the format and requirements of each jurisdiction.

Region-Specific Statutory Audit Considerations:

United States (US):
- Compliance with US GAAP issued by the Financial Accounting Standards Board (FASB).
- Adherence to auditing standards issued by the Public Company Accounting Oversight Board (PCAOB) for public companies and the American Institute of Certified Public Accountants (AICPA) for private companies.
- Specific industry regulations may necessitate tailored audit procedures.
United Kingdom (UK):
- Compliance with UK GAAP, which includes FRS 102.
- Adherence to auditing standards issued by the Financial Reporting Council (FRC).
- Specific requirements based on company size and type.
Canada:
- Compliance with Canadian GAAP (IFRS for publicly accountable enterprises, Accounting Standards for Private Enterprises - ASPE for private entities).
- Adherence to Canadian Auditing Standards (CASs).
United Arab Emirates (UAE):
- Compliance with IFRS as generally applied in the UAE and the requirements of the Commercial Companies Law.
- Auditors must be licensed and registered in the UAE.
Australia:
- Compliance with Australian Accounting Standards (AASBs), which are largely based on IFRS.
- Adherence to Australian Auditing Standards (ASAs).
- Requirements under the Corporations Act 2001.
Europe:
- Compliance with IFRS as adopted by the European Union for consolidated financial statements of listed companies. Individual countries within Europe may have their own national GAAP for unlisted companies (e.g., German GAAP, French GAAP).
- Adherence to International Standards on Auditing (ISAs) as adopted by the EU or national auditing standards.
- Navigating the varying company laws and audit requirements across different European nations.
Saudi Arabia:
- Compliance with accounting standards issued by the Saudi Organization for Chartered and Professional Accountants (SOCPA), which are moving towards IFRS.
- Adherence to auditing standards issued by SOCPA.
Pakistan:
- Compliance with accounting standards notified under the Companies Act, 2017, which are largely based on IFRS.
- Adherence to auditing standards issued by the Institute of Chartered Accountants of Pakistan (ICAP), which are based on ISAs.

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Italy

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New Zealand

Canada

United States of America

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