Ash Accounting’s audit approach is based on a consistent methodology developed in compliance with International Standards on Auditing.
Our methodology includes the core principles relating to professional integrity, independence and ethical behavior with which our Partners and staff must comply. It is enhanced by supervision, review, consultation policies, technology, and tools that assist teams to access knowledge bases.
These tools are all designed to help teams focus on the issues that impact on audit judgments and improve the effectiveness and efficiency of the audit.
All of the above culminates in our ability to provide an independent opinion on the fairness of financial statements, as prepared by the directors, for use by various stakeholders, when evaluated against a generally accepted accounting framework such as International Financial Reporting Standards.
Statutory Audit Service
Different from internal audits, our statutory audit service process relies on understanding an entity, risk analysis, evidenced corroboration and informed professional judgment. This provides maximized customary benefits of statutory audits to our clients. General standards are brief statements relating to such matters as training, independence, and professional care.
Our external audit services are performed by auditors who have adequate technical training and proficiency as auditors. They maintain complete independence in all matters relating to assignments and keeping us as one of the best audit firms in South Africa.
Internal Audit Solutions
Ash Accounting’s internal audit solutions can be as broad or narrow in scope as your audit committee, board or management wishes. Organizations may choose to outsource specific internal audit functions, which are not handled or known by their internal staff. This allows their internal stuff to focus better on projects they know best and us to focus on the rest.
On another hand, clients may co-source internal audit projects, where we can work with your organization to develop an overall plan which will address its priorities for implementation to be made by your internal staff.
Lastly, the entire audit function may also be outsourced. The latter approach allows management to focus on core competencies and for NUE to apply its considerable audit expertise to your organization’s needs.
Outsourcing our internal audit functions and audit services can benefit your organization no matter the size, even with no regulatory requirement to do so. For businesses who either added an internal audit department or not, outsourcing or co-sourcing internal audit services is necessary as your organization grows. It makes good business sense. Candidates for outsourcing or co-sourcing their internal audit function from NUE include:
Financial Statement Audit
Our company provides financial statement audits for small and big organizations. Businesses looking for financial statements audit to be performed either for regulatory or statutory purposes, we are the company for them.
Financial statements audit need to be completed in the most effective and primarily meaningful to the client needs above all else. In order to do this, NUE Chartered accountants employ industry-specific approaches to auditing and assurance services as well as similar approaches to our attestation services. Our audit services are defined through our main mission which speaks to planning ahead, thorough risk assessment and precise testing and reporting.
The principal purpose of our financial statement audit services is to provide our clients with credible reports of their financial standing as well as their business performance.
When involved in the process of compilation engagement, the international auditing and assurance Board (IAASB), urges practitioners to report on the engagement in accordance with the released international standards, 4410 (ISRS 4410) Revised.
Even though no specific standards are required by any South African legislature, while compiling financial statement, it is still highly expected that chartered accountants or associate general accountants regard the required declarations placed by the IAASB during compilation engagement.
Internal Control Solutions
In order to save your organization from financial risk as well as strategic and reputational risk, you need our internal control solutions. Our solutions make sure that your company receives the correct foundation to operate effectively and progressively with the most minimum risk.
To achieve this, we use reliable processes of financial reporting that are required by the general industry and regulatory standards. We provide trustworthy financial reports, ultimately protecting your company and keeping it compliant with industry standards that track credit risk, investment risk and capital risk.
For example, some acts which protect investors may request proof that companies report their annual financials. Again they may also request proof that companies practice proper procedures that prioritize fraud prevention.
Companies need to set appropriate objectives and begin risk assessment based on how they intend to position themselves in that regard. The misconception that assessing risk lies solely in outlining risk areas which businesses wish to eliminate, is what constitute to companies being unable to address the risk that is aligned to their overall objectives.
AGREED UPON PROCEEDURES
Agreed-upon procedures are carried out when we are appointed to issue a report of findings based on specified financial statement items. These apply to engagements relating to agreed-upon procedures for specified elements or accounts.
The new independent review proves to be less burdensome, less rigorous and less costly for smaller companies. Companies that proposed a voluntary audit or who passed the public interest test will also fall under these requirements.
Our approach to compliance audits is to determine conformity and adherence to applicable laws and regulations. These may include reviews for conformity and adherence to laws and regulations, policies, plans, procedures, contracts or other requirements we perform both legal compliance and corporate governance assurance services.
B-BBEE VERIFICATION / AUDIT
Any entity wanting to do business with the Government or any Organs of State has to be BEE Compliant First. The process of becoming BEE Compliant is known as the BEE Verification process. This is a process where the entity has to come into contact with an SANAS Accredited BEE Verification Agency. Together with the BEE Agency the entity has to undergo a partial or full audit to determine its BEE Compliance Levels.