Requirement review
What the bank, donor or investor actually requires.
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Many audits are not required by company law but by someone you depend on: a bank, a donor, an investor, a franchisor or a government buyer. We prepare your business for these external audits, organise the evidence the auditor needs and help you choose and brief a qualified auditor, so the report arrives on time and says what it should.
When a bank, donor or investor asks for audited accounts, they want an independent auditor's opinion they can rely on. Whether the audit is quick and clean, or slow and qualified, depends largely on how well the business is prepared.
An external audit is an examination of financial statements or specific financial information by an independent auditor, who issues a report under the International Standards on Auditing adopted in Pakistan. Companies have a statutory audit under the Companies Act, 2017, but many other entities are audited because an agreement requires it: partnerships and AOPs whose partners or banks want audited accounts, sole proprietors applying for finance, not-for-profit organisations reporting to donors, and businesses bidding for tenders that ask for audited statements. Lenders and donors may also ask for special-purpose reports, such as a grant or project audit, or agreed-upon procedures on particular figures.
Our role is readiness and support. We prepare the financial statements or the project accounts, reconcile balances to bank statements and third-party confirmations, organise the evidence the auditor will test, and help you understand the terms of reference set by the bank or donor. Where you do not yet have an auditor, we help you prepare a clear scope so qualified firms can quote on a like-for-like basis.
The work usually starts with the document that created the audit requirement: the facility letter, grant agreement, shareholders' agreement or tender notice. We list exactly what it asks for, such as the period, the type of report, specific schedules or certifications, and the deadline, and compare that with your records. That gap list becomes the plan, so there are no surprises when the auditor begins.
For companies, see statutory audit support. If the external audit is linked to a loan or investment, our financial projections and business plan services often accompany the audited accounts.
A fixed fee per audit, agreed after we review the requirement.
What the bank, donor or investor actually requires.
Statements or project accounts prepared for audit.
Bank, receivables, payables and grant balances agreed.
Supporting documents organised for testing.
Donor or lender requirements mapped to records.
Clear scope for quotes and fieldwork.
Report timed for covenant or grant dates.
Audit points resolved and controls improved.
These are the issues that delay or weaken audit reports.
An audit that does not meet the bank's or donor's terms may be rejected.
We map the requirement.Differences with bank or third-party records lead to qualifications.
We reconcile first.Donor funds without evidence of use become ineligible costs.
We organise evidence.Late audited accounts can breach loan covenants.
We plan backwards.Sole proprietors and AOPs often mix accounts.
We separate them.The same audit points every year weaken credibility.
We fix root causes.Start as soon as you know an audit is required.
We read the requirement and your records.
Agreed for the readiness work.
Statements, reconciliations and evidence.
Auditor queries answered.
Findings resolved for next time.
Audits required by partners or banks.
Audited accounts for finance applications.
Donor and grant audits.
Covenant and credit reporting.
Reporting to foreign parents.
Audited accounts for bids.
We prepare the numbers and the evidence so your auditor can rely on them.
Statements built to be audited.
ACCA and ICAP Chartered Accountant qualifications and an FBR-registered income tax practitioner.
Terms of reference mapped carefully.
Audited figures that agree with returns.
Quick answers during fieldwork.
Agreed before work starts.
Have a question that is not here? Send it to us on WhatsApp and we will reply the same day.
Send us the requirement and your latest records. We will review them and quote a fixed fee to get you ready.
Book your free consultationThis page is general information about our services, not tax, legal or financial advice for your specific situation. Laws, rates and deadlines change with each Finance Act and official notification.