tag:blogger.com,1999:blog-13080887602039252412023-06-20T05:48:22.070-07:00Khiljico.Khilji & Co provides 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. These services include;khiljico.http://www.blogger.com/profile/14822573035099792368noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1308088760203925241.post-15689292777792946712011-03-10T05:39:00.001-08:002011-04-27T03:51:43.701-07:00Khilji & Co.<div dir="ltr" style="text-align: left;" trbidi="on"><br />
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<tr> <td style="background: none repeat scroll 0% 0% rgb(121, 168, 4); padding: 0in; width: 100%;" width="100%"><div class="MsoNormal"><b><span style="color: white; font-family: Verdana; font-size: 6.5pt; text-transform: uppercase;">Assurance and Audit Services</span></b></div></td> <td style="padding: 0in;"><div class="MsoNormal"><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;"><img height="22" src="file:///C:/DOCUME%7E1/fkhilji/LOCALS%7E1/Temp/msohtml1/01/clip_image001.jpg" width="23" /></span></div></td> </tr>
</tbody></table><div class="MsoNormal" style="text-align: justify;"><span class="textstyle8"><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;">Khilji & Co provides 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. These services include;</span></span><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;"></span></div><ul style="text-align: justify;" type="disc"><li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 7pt;">Statutory Audit</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 7pt;">Management Audit</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 7pt;">Internal Audit and System Control Review (SCR)</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 7pt;">Tax Audit</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 7pt;">Regulatory Audits and Regulatory Compliance review (RCR)</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 7pt;">Cost Audit and Cost Allocation studies</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 7pt;">Share Transfer Audit</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 7pt;">Review and compilation assignments</span></li>
</ul><div style="text-align: justify;"><b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;">Statutory Audit </span></b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;"></span></div><ul style="text-align: justify;" type="disc"><li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Financial audits of both domestic and foreign companies, public or private limited companies, branches of foreign entities, provident, pension, gratuity and other employee benefit funds, charities trusts or non-governmental organizations. </span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">To ensure the truth and fairness of financial statements to be prepared and presented in accordance with identified financial reporting framework e.g. in Pakistan these are International Financial Reporting Standards (IFRS/IAS) issued by IASB and adopted by SECP, Companies Ordinance 1984 and other circulars and directives issued by SECP (Securities and Exchange Commission of Pakistan). </span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">To be conducted in accordance with International Standards on Auditing IASA’s issued by International Federation of Accountants (IFAC) applicable in </span><span style="font-family: Verdana; font-size: 6.5pt;">Pakistan</span><span style="font-family: Verdana; font-size: 6.5pt;">. </span></li>
</ul><div style="text-align: justify;"><b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;">Management Audit </span></b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;"></span></div><ul style="text-align: justify;" type="disc"><li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Performance of agreed upon procedures between the firm and client management in order to provide assurance on the reliability and accuracy of financial & non financial information. </span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">To provide a detailed investigative report on findings and issues arising, implications and recommendations thereon. </span></li>
</ul><div style="text-align: justify;"><b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;">Internal Audit and System Control Review (SCR) </span></b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;"></span></div><ul style="text-align: justify;" type="disc"><li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Obtaining the understanding of existing accounting and internal control system, approved and implemented by the management.</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Checking the compliance of existing accounting & internal control system.</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Continuous periodical reporting to management about non compliance of existing system, weaknesses found and suggesting improvements in the accounting & internal control system.</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Reporting on non compliance of regulatory and statutory requirements.</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Performance of detailed review of internal control system in order to find weaknesses in the system and to perform GAP analysis.</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Assisting system analyst and developers in system analysis, design and development process.</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Implementation of new systems developed and post implementation review.</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Training of personnel in order to understand and use new systems got developed.</span></li>
</ul><div style="text-align: justify;"><b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;">Tax audit </span></b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;"></span></div><ul style="text-align: justify;" type="disc"><li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Providing assurance to tax authorities / clients, on compliance with various aspects of Income Tax, Sales Tax or other tax statutes. </span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Scope varies from case to case based on degree of assurance sought by the authority or client. </span></li>
</ul><div style="text-align: justify;"><b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;">Regulatory Audit & Regulatory Compliance Review (RCR) </span></b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;"></span></div><ul style="text-align: justify;" type="disc"><li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Providing assurance based on a structured criteria mainly emerging from governing statute and related regulations whether significant provisions thereof are duly and promptly complied with. </span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Providing reasonable assurance to clients, that enterprise is not in significant default in complying relevant laws and regulations. </span></li>
</ul><div style="text-align: justify;"><b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;">Cost Audits & Cost Allocation Studies </span></b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;"></span></div><ul style="text-align: justify;" type="disc"><li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Assessment of effectiveness of costing system & cost controls, in order to optimise use of enterprise resources. </span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Compulsory cost audits of some specific industries i.e. cement and edible oil industries, in order to check the compliance of company law. </span></li>
</ul><div style="text-align: justify;"><b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;">Share Transfer Audit </span></b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;"></span></div><div style="text-align: justify;"><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;">To provide assurance to corporate secretary and directors of listed companies, that processing and documentation of share transfers is in accordance with applicable statutory requirements and are consistent with company’s own Articles of Association and recognized corporate practices. </span></div><div style="text-align: justify;"><b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;">Review and Complication Assignments </span></b><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;"></span></div><ul style="text-align: justify;" type="disc"><li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Reporting on limited scope review of financial statements based on inquiry from client & analytical review.</span></li>
<li class="MsoNormal" style="color: #333333;"><span style="font-family: Verdana; font-size: 6.5pt;">Preparation of financial statements in different presentation style for management so that they can take proper decision based on that information.</span></li>
</ul><div class="MsoNormal" style="text-align: justify;"><span style="color: #333333; font-family: Verdana; font-size: 6.5pt;">Compilation, review and validation of prospective financial statements</span></div><div class="MsoNormal"><br />
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