Audit

 An independent audit is the foundation for decision-making in the capital markets. Our working practices are modern and progressive. We are a motivated, cohesive and dynamic practice who work with and for our clients in ways that seek to advance traditional notions of auditing, with a focus on client relationships.

A professional knowledge of principles and business, as well as of the appropriate systems, processes and controls are also critical requirements. Moreover, auditors’ judgements must be rooted in an in-depth understanding of each client’s industry value drivers, competitive positioning and marketplace practice.

At ECAS we bring to each assignment time-tested, rigorous, and cost-effective methods and procedures. We evaluate the business's internal controls and develop a tailored audit program for the client that also enhances financial reporting efficiency.

Some of the auditing services available at ECAS are:

• Year-end audit: The year-end audit is a comprehensive summary and opinion on financials and controls of a business.
• Interim audit: Performed before the year-end, an interim audit provides planning and documentation in preparation for the year-end audit.
• Continuous audit: Performed for businesses which have tight financial reporting deadlines that need to be met after the closing of the financial year and for those businesses that need financial reviews throughout the year.
• Internal audit: During quarterly reviews, ECAS reports on a business’s financials and internal control.
• Compliance audit: ECAS compliance services ensure that clients conform to the standard, set of procedures established internally and industry regulations.
• System audit: ECAS provides a detailed review of the client system along with our opinion.
• Special purpose audit: With qualified and diversified, experienced professionals at ECAS we are always ready to perform any special assigned task to meet different requirements.

Stages of our Audit
The key stages of our audit include:

• Planning
• Interim Field Work
• Year-End Field Work
• Audit Committee Communications

Planning
We plan and perform our audit so as to obtain all the information and explanations which we consider necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements and the part of the remuneration report to be audited are free from material misstatement, whether caused by fraud or other irregularity or error. In forming our opinion we also evaluate the overall adequacy of the presentation of information in the accounts and the part of the remuneration report to be audited.

Interim Field Work
At ECAS we remove the end of year pressures by performing interim procedures at a convenient date prior to the end of your financial year. In conjunction with this interim testing, we design audit procedures to:

• Develop permanent files of pertinent information, which will be useful on a continuing basis.
• Confirm loans and deposit balances with customers using techniques that sample the population, based on a probability proportionate to the size of the account.
• Test our understanding of the business internal controls.

Year End Field Work
ECAS causes to issue a report based on the results of our audit work in a timely and efficient manner. After discussing any interim audit observations and qualifications with management, our audit team will begin the year-end phase of the examination, which includes:

• Revision and implementation of the audit plan, using professional accounting techniques and analytical skills.
• Review and discuss the appropriateness of the business’s disclosure and a detailed analysis is conducted with reference to the rules and regulations of the relevant government departments.
• Meeting with the audit committee to discuss the results of our review of the business to discuss the changes that were made during our audit of the Financial Statements and any other adjustments that were proposed but were not recorded

Audit Committee Communications
To ensure that our standards are being met, we make certain that regular communications with the audit committee is taking place. This is critical to the independence and objectivity of the audit.

By considering Laws and Regulations in an Audit of Financial Statements, ECAS ensure that our audit solutions are compatible with your business and offer a cost effective approach.

Beyond the Audit
When engaged for audit, ECAS searches for new methods to improve the efficiency and profitability of the business. Recommendations are outlined, possible risks and opportunities of profitability are discussed, along with, favourable and unfavourable trends or ratios, such as methods to protect the business against the future interest rates, legislation and other similar events.

Now having read how we audit, you should ask yourself is it the time to contact Evans & Co for these services!!! It is so easy, just complete and submit the enquiry form located under our “Contact Us” page. Following the receipt of your enquiry, one of our people will contact you to discuss your matter and the various ways in which ECAS can help you. Our goal at ECAS is to provide you with fast and quality service at all times.