Whether you’re grappling with global market risks, starting a local business or need assurance that your financial information is true, fair and accurate, our specialist audit and assurance team has the expertise, experience and resources to provide efficient and effective audit and assurance services.
The success of the business is heavily reliant on reliable financial information which promotes confidence and mitigates uncertainties. Credible information needs to be corroborated by the desired level and kind of professional assurance ranging from statutory audit of financial statements to a variety of other forms of assurances and attestations consistent with the varying needs of the users of such information.
We provide a wide range of assurance services, with the primary focus on the objective of assurance on the reliability and relevance of financial information and a host of non-financial aspects, data, processes, operations and procedures and on the effectiveness and efficiency of controls.
MHSS’s Audit Methodology enables us to provide effective and efficient delivery of quality assurance services. The significant features of our audit methodology are a sharp focus on business risks specific to a client, a higher degree of emphasis on reliability and tests of controls, analytical review, building and sharing knowledge, skeptical approach, teamwork involvement through all significant phases of an audit.
MHSS is committed to delivering independent, efficient, effective and comprehensive audit and quality assurance services. By gaining a thorough understanding of client’s businesses and by providing a risk-focused service integrating rigorous risk assessment with diagnostic processes and audit testing procedures tailored to the specific audit, our firm maintains excellent relationships with their clients by building and sharing knowledge and involvement through all significant phases of an audit. This quality-led approach means members provide a constructive and challenging audit to every one of their clients.
Through robust auditing tools, techniques, resources and audit procedures, MHSS delivers excellent quality audit services while adhering to the highest standards of fundamental ethical principles including independence, due care and professional objectivity. As part of our strategy, continuous audit quality improvement, service performance and delivery to clients is continuously assessed. The partner in charge of each audit along with the senior manager personally oversees the engagement by meeting with clients’ management, members of audit committee and Board of Directors to assure needs are met and issues are resolved in a timely manner.
In Pakistan considering the local requirements, we are offiering services in following areas:
Audit & Assurance Services
Directors find an auditor they can belief to help them manage business and financial risk as well as ensure all types of regulatory compliances. MHSS knows what businesses want from an auditor who not only focuses on what’s important and but also disclose useful insights including internal controls issues of the business after the finalization of the audit procedures. With MHSS, that is what business entities will receive.
During the course of day-to-day operations of a business, times of change or increased governance responsibilities, any type of risks can arise which need to be managed timely. An internal audit function is essential in an organization’s system for checks and balances and is a valuable tool for boards and audit committees. It helps to identify how risks are managed as well as whether the right processes are in place and agreed procedures are being followed.
As a potential purchaser, it is very important to know that the business you want to buy is the business which you think it is. Most of the time business owners does not depict the real situation and position of business which is most important to know. As an investor, if you are considering to buy a business or acquiring shares in a business, then due diligence is vital.
The growing complexities of businesses and increase in the usage of electronic commerce has led business entities prone to electronic fraud. In turn, this has escalated the risk of misappropriation, misrepresentation, unethical behavior and privacy abuse. Forensic accounting is the use of accounting skills to investigate embezzlement, fraud and to analyze financial information for use in legal proceedings (if any possible).
Sometimes business entities may not require a full audit to assess specific performance issues. An agreed-upon procedures engagement can provide business entities with the targeted information they need to understand the current conditions and forecast what’s coming. The engagement tailored to your specific needs.
Prospective financial information relates to events and actions that have not yet occurred and may not occur. Although evidence might be available to support the assumptions underlying the prospective financial information, such evidence is usually set to the future and, therefore, of a speculative nature, very distinct from the evidence usually available in the audit of historical financial information.
Both for direct and indirect taxes, tax authorities occasionally engage external professional assistance to provide assurance on compliance with various aspects of the Income Tax, Sales Tax and other tax statutes. From a comprehensive assurance on the declared operating results of a tax payer to any specific aspect of tax compliance, the scope of engagement varies from case to case depending upon the degree of assurance sought by the tax authority on the reliability of such declarations, taxe…
In a challenging and dynamic market, reporting of financial performance of business entities in a complaint manner is key. It is possible to reduce capital costs if information of relevant stakeholder is available. Our experienced team will help you to get benefit in your future decision making from efficient compliance efforts and depth of knowledge.
Presenting accurate and timely financial information in compliance with rules and regulations of regulatory bodies is a basic criterion for investors, donors and for corporate governance. The focus of our team is always on the business behind the numbers and we use financial data as a tool to provide value addition. We take our clients as a part of our team and identify opportunities for increasing operational efficiency.
Management audit of business entities is important especially where business is comparatively small one. Management audit become important to identify those mistakes which could have landed the organization into a shutdown situation. Internal controls of business entities are assessed through management audit and their effectiveness and relation with existing manner of work is observed. It is a method of evaluation within the business entity and can result in bringing required ch…