Assurance/Audit Services
See more detail of our services below
Financial Audit
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Agreed Upon Procedures (AUP)
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Financial Review
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Assurance/Audit Service
Financial Audit
According to the independent audit law, No 51/NA, dated 22 July 2014. the following organizations are required to be annually audited:
Agreed up on Procedures (AUP)
We provide financial audit as well as Agreed up on Procedures (AUP) which include the following:
Financial Review
According to the Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements, "Review engagement - The objective of a review engagement is to enable an auditor to state whether, on the basis of procedures which do not provide all the evidence that would be required in an audit, anything has come to the auditor’s attention that causes the auditor to believe that the financial statements are not prepared, in all material respects, in accordance with an applicable financial reporting framework".
Certain donors/organizations may require financial review rather than financial audit, please contact us for one of the services that you may require.
Our Approaches
According to the independent audit law, No 51/NA, dated 22 July 2014. the following organizations are required to be annually audited:
- Foreign enterprises
- Banks and other institutions under supervision of Bank of Lao PDR
- Insurance companies and insurance agents
- Listed companies, securities companies and public companies
- State Own Enterprises
- External loan and grant projects or international organisations
- Enterprises that have asset more than 50 billion LAK (according to the article 158 of the Enterprise Law)
Agreed up on Procedures (AUP)
We provide financial audit as well as Agreed up on Procedures (AUP) which include the following:
- System implementation review
- Expenditure review
- Fixed asset physical verification
- Stock physical count
Financial Review
According to the Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements, "Review engagement - The objective of a review engagement is to enable an auditor to state whether, on the basis of procedures which do not provide all the evidence that would be required in an audit, anything has come to the auditor’s attention that causes the auditor to believe that the financial statements are not prepared, in all material respects, in accordance with an applicable financial reporting framework".
Certain donors/organizations may require financial review rather than financial audit, please contact us for one of the services that you may require.
Our Approaches
- We may contact potential clients if they are interested in having an audit or a client may contact us asking for services.
- If a client is interested in audit, we will send a set of questionnaires asking about background information and service requirement.
- Based on the information provided in the questionnaires, we may contact or meet the client for more details if require.
- A quotation and proposal will be sent to client for review and consideration.
- if client agreed on the quote and proposal, we will prepare and send engagement letter which outline terms and conditions of services.
- A client may review and suggest for a revision of the terms and conditions of the services if any. Soon the engagement letter is finalized and signed off, we will start our audit planning as specified in the engagement letter.
Detailed procedures of each step will be outlined in our proposal sent to clients
What is added value to financial audit?
What is added value to financial audit?
Our Clients
- Non Profit Organizations (NGO)
- Projects implementing by government agencies and funded by donors: The World Bank, Lux-Development, Asian Development Bank (ADB).
- Projects implementing by Mass organizations funded by Swiss Red Cross, The United Nations Development Fund for Woman (UNIFEM), The Asia Foundation, the Bread for the World.
- Enterprises in mining, tour and travelling, agriculture, electrical equipment, medical supplies and equipment, Cafe
Our Service Fee
Our service fee is based on the staff qualification and the time spent on a particular service. Organisation size, structure, internal control systems, nature of activities and volume of accounting transactions are also parts of our consideration for our staff time input and team allocation. Please contact us for quote price