The offshoring of the assurance (audit) procedures presents auditing firms with unique opportunities and advantages. It not only allows the firms to reap benefits of cost arbitrage and economies of scale but also helps the onshore team to focus on high risk areas and effective managerial time.

 

At Outsource Onwards, we help our audit/CPA/CA firms in understanding their client business, audit plan and assist in completing their audit timelines as per International Auditing Standards. We have a strong experience in working full scope audit and audit tasks under IFRS.

 

Our services include:

 

• Provide assistance in audit procedures under statutory audit framework for almost all type of entities engaged in trading, commercial activities, manufacturing, health care, retail, real estate, investments and services sectors.

 

• Peer Review of the audit working papers and sharing of the major non compliances as per IFIAR findings.

 

• Providing end-to-end support in performing audit procedures for our clients from the initial planning and risk management stage to the execution of the substantive auditing and Test of details procedures of all significant accounts and processes.

 

• Assistance in performing the completion and reporting stage of audit including preparation of draft financial statements, tie outs, notes to accounts etc.

 

• Running of the Data Analytic tools and highlight the exceptions.

 

• Handling of the group audit procedures and instructions from the component auditors.

 

• Preparation of the lead sheets from Trial Balance

 

• Assistance in linking of the audit work with the audit programs.

 

• Performing the client’s Agreed Upon Procedures and Limited Reviews.

 

• Completion of the disclosure checklist

 

• Performing the Overall Analytical Review and ratio analysis.

 

• Training of the staff