Audit & Assurance Services
Assurance Affiliates provides audit and assurance services for a wide range of industries from small and medium size enterprises to large multinational corporations. Types of audit and assurance services include:
- General purpose audit engagements – Statutory audits
- Enterprise risks management engagements – Internal audits
- Special purpose audit engagements
- Agreed upon procedures engagements
Statutory audits
Statutory audits are for entities that require an audit for statutory reason associated with the filing of their annual report and financial statements with the ACRA for meeting the Singapore Companies Act requirements. We can provide you with quality audit services completed with the completeness and accuracy of information contained in your financial statements to meet the expectation of the investors, regulatory bodies, customers and lenders.
Our risk based auditing approach includes an in built quality engagement assurance review system and is up-to-date with the latest Singapore Standards on Auditing, to give you certainty that your audit has been completed under the rigorous professional standards. Our audit
approach, which is based on thorough understanding of our client’s business and risks, has four key phases in the audit methodology:
- Planning – identifies and develop overall audit approach with particular focus to key audit risk areas;
- Controls phase – Understand, evaluate and validate the key internal control areas and advise management of any issue during the audit;
- Substantiation – Carry out test of details on significant account balances and transactions both during the interim and final audits
- Completion – the submission of the audit opinion and the delivery of management letter.
Internal audits
Internal audit is a key driver of effective management control, proactive risk management, good corporate governance and ongoing process improvement. Our comprehensive ranges of internal audit solutions include:
- Helping organisations develop and implement risk based internal audit
methodologies - Helping firms carry out risk assessment evaluation and testing
- Advising on the establishment of robust internal control systems
- Providing specialised additional resources to in-house internal audit departments
- Liaising with external auditors in relation to their annual statutory audits
Special audit engagements
A special audit engagement entails a comprehensive and objective examination of the business underlying the numbers. It assists management to identify and focus on key areas and issues and provides insights and comfort to them as well as to outside interests.