Auditing Service

External Audit Internal Audit And Control System Reviews Information Systems Audit And Risk Management

External Audit

EXTERNAL AUDIT

Our audit approach assimilates rigorous standards of professional independence and objectivity, with a methodology that emphases on crucial risk areas and co-ordinates together our technical skill and practical knowledge commensurate with detailed knowledge of your organization and the financial services industry in the conduct each audit assignment.

 

Our Service Philosophy

U&T Standardization Marks audit approach is tailored to business functions of the client, but goes beyond just the financials. Businesses need auditors who understand their industry, geography, political and economic policy challenges, their long-term strategy including any risks that need to be assessed and managed. Businesses need advisors who can use this crucial information into the audit process.

U&T Standardization Marks Audit and Assurance Practices adhere the International Standards on Quality Control, Auditing, Review, Other Assurance and Related Services.

 

Our Approach

U&T Standardization Marks approach includes analysis of business performance against management objectives, evaluation of business processes, assessment of business risks and comparison with industry standards. This approach focuses on understanding all aspects of a client’s business, including areas such as:

> Industry-specific processes
> IT Controls and its management
> Revenue cycle and marketing
> Personnel and human resources
> Business processes
> Fixed and working capital management

We want our clients to see us as business partners with whom they can discuss, with confidence, their business issues and strategies.

 

Advanced Audit Technology

We use up-to-date information technology to support and complement our audit approach. This supports all phases of the audit process – planning, execution, and reporting. We use latest innovative audit and documentation software, which contains tools for analyzing, documenting, managing, communicating, interrogating, extracting, reviewing and presenting the audit process.

Internal Audit And Control System Reviews

Internal Audit And Control System Reviews

Managements today requires experienced internal auditors to address concerns in risk management, internal control environment assessments, process improvements; enterprise risk management (ERM) programs and regulatory compliance. Our experienced internal auditors are equipped to answer your regular queries and questions with the accounting system. Is the accounting system capable of recording financial transactions in a prompt & accurate manner ? Is the accounting system capable of tracking expenditure by project, category, component, class, nature, etc. ? Is the accounting system capable of comparing actual expenditure to budget ? Chance of fraud risk ? Are assets properly recorded & safeguarded from misuse and abuse ?   Our Service Philosophy Analysing key processes, procedures & operation. Identifying key controls in each such operation, procedure & process. Evaluating the adequacy of these controls. Testing compliance of sample transactions against these controls. Reporting results of the evaluation of controls and testing of transactions. Recommending stronger controls wherever necessary. Suggesting methods to improve compliance with key controls. Follow up of action taken on recommendations made in previous reports.   Services Include Advising your management team to develop practical internal controls that enhance the control environment. Providing advice on how to implement an effective and secured internal control environment. Advising how to manage core operational risk, especially those related to the reliability of business operations. Assisting with linking operational strategies and risk performance measures to business goals. Assisting with change management and business awareness processes by helping make the transition from existing practices to more efficient and focused. Approaches through training and assisting of staff in the development of new skills. Evaluating the key structures, dynamics and processes required to reinforce effective corporate governance.   What We Offer Complete internal audit outsourcing. Partial internal audit outsourcing. Staff sharing basis ( supervisory and execution). Internal control system study and evaluation.

Information Systems Audit And Risk Management

Information Systems Audit And Risk Management

Many companies are spending large amounts of money on IT Systems, based on the understanding that, tremendous benefits can bring the IT to their operations and services. However, at the outset, the management of these companies needs to ensure that their IT Systems are reliable and secure in the fast changing business and technology world.

IT Audit is important, as it gives assurance, that the systems are adequately protected, it provides reliable information to the users and properly managed to get their intended benefits to the overall organizational growth.

IT audit also support to reduce risks of data tampering, data loss or leakage, service disruption and poor management of systems.

U&T Standardization Marks certified & well experienced team can help to conduct an effective IT Audit and also support by providing IT auditors on need – basis to supplement your existing team.

Our approach on the IT Audit will confirm, the IT controls designed within the application to prevent or detect unauthorized transactions and support financial objectives including completeness, accuracy, authorization and existence of transactions.

We provide our IT Audit services, on a risk-based methodology to protect Confidentiality, Integrity Availability of necessary information on time.

We assist you on the following type of audits :

The Objectives :

IT Audit on financial statements; Evaluating the reliability and accuracy of data from IT Systems, having impact on the financial statements of the companies.

IT Audit on compliance , Ascertaining the level of compliance with :
Applicable laws
IT Policies and procedures
IT Controls and business continuity
IT Audit on Performance ;- Verifying for the instances of excess outlay of money ,inefficiency and wastage in the use and management of IT Systems

Our Methodology

Requirement Study and Situation Analysis
Planning
Document Review
Risk Identification and reporting.

As Independent member of U&T Standardization Marks assure the clients to provide cross boarder services, with the help of other IT experts and firms within the group