Audit and Assurance
Our client base crosses a wide range of industries and our audit staff are able to apply skills and specialisations which benefit your business as a whole. Whether the audit is a legislative requirement or commissioned for a special purpose, we are committed to a high level of service and expertise
Businesses are always expected to keep pace with the evolving regulatory landscape and rapid technological advancements. Recent trends in the fields of law and technology indicate the significant changes the audit landscape has undergone over the years. Internal audits have become increasingly complex and any issues of non-compliance detected can be heavily penalised, affecting the overall profitability of the organisation. Berkeley & Lords’s services improves stakeholder trust in your business and drives value in its daily operations.
With in-depth insights on the specific risks, we offer tailored audit and assurance services across all business disciplines, accelerating your company’s business performance. We provide auditors with effective Data and Analytics (D&A) routines that facilitate a better understanding for stakeholders and ensure that our strategies align with your business values, such that they enable smarter decision-making capabilities.
Financial Statements Audit
A Berkeley & Lords audit lends credibility to our clients’ financial statements, as our auditors offer more to an assignment than merely ticking boxes. Through our global network, they have access to the knowledge of industry developments and international trends, which provides them with intrinsic awareness of the global marketplace and required local standards.
The Berkeley & Lords risk based audit approach is applied consistently across our network through the use of the Berkeley & Lords Audit Manual, a core technical document that fully complies with international auditing standards. Each member firm adds relevant guidance to address the national statutory and professional requirements.
Auditing is not a static process and we recognize the need to offer our clients the best possible range of compliance and advisory services. Therefore, we ensure the continual development and enhancement of our range of audit tools.
We believe that high-quality audits, in fact and perception, are essential to the growth of financial markets. With that goal in mind, Berkeley & Lords has pledged to maintain the integrity of our audit process. Our professionals are highly aware of the need to maintain objectivity and independence. Moreover, the audits we perform are led by partners who are heavily involved in the engagements and staffed by individuals with the appropriate skills and knowledge of our clients’ businesses. Each audit also has a suitable level of independent technical oversight.
We have professional experience across a wide range of industries and our audit staffs are able to apply skills and specializations which benefit your business as a whole.
IFRS Advisory Services
Technical accounting and IFRS advice tailored to your business
Almost every business with a statutory reporting requirement has to follow International Financial Reporting Standards (IFRS). The increasing complexity of financial reporting and the rapid pace of change has led to significant increase in demand for expert accounting advice.
Berkeley & Lords has a specialist team together with the support of Berkeley & Lords International’s Global IFRS team to help businesses with complex accounting matters in an expert capacity.
Our service offering in each technical area includes:
- Specialist technical advice
- Implementation services of new accounting standards
- Forensic/expert witness services in application of accounting standards
- Preparation of accounting manual and policies
- Preparation of financial statements
In an ever-changing information technology world, IT and financial reporting are becoming increasingly complex as there is a greater reliance on the IT systems and processes. There is a need for greater emphasis on system controls and a requirement for independent assurance on the design and operating effectiveness of internal controls. Attention is required on the design and operation of controls which helps the management to have accurate, reliable information for financial reporting and decision-making process.
Berkeley & Lords, IS assurance team helps you to evaluate the controls surrounding your financial reporting process in alignment with your business process and IT controls. Our IS assurance services include:
• A comprehensive information system audit
• IT general control reviews (ITGC)
• ERP applications reviews focusing on financial reporting
• Pre and post implementation reviews
• CAAT (Computer Assisted Audit Techniques)
Other Assurance Services
We cater to our clients for number of other assurance services. Our assurance team is well equipped and possess significant experience in delivering such specialized services to cater to specific needs of our clients and different stakeholders. Such other assurance services include:
Agreed Upon Procedures
There are certain areas / transactions where the audit engagement may not serve the purpose to the stakeholders. In such scenarios, the clients and stakeholders look forward to specific work from auditors and reporting thereon. This is where the agreed upon procedures engagements plays a critical role. Under such arrangement, we agree the specific procedures to be performed for a focused work and focused reporting. The benefit of such engagements are that the work will be limited to what is required with precise outcome and reporting.
Regulatory compliance can be as complex as possible needing the sector expertise. Complying with the spirit and the letter of the regulatory framework is necessary. This requires laying down strong governance and wider approach towards alignment of commercial objectives, risk management and long term strategy of the business.
We have expertise and skills to help you through this ever evolving compliance area – whether this is mandatory compliance or you want to have this done voluntarily. The benefits that we offer to our client are:
- Deep understanding of the regulatory framework
- Wider expertise not just locally but worldwide through our network
- Assurance over regulatory reporting and compliance
- Registered as service provider with the Regulator