Audit process
From scoping letter to signed opinion
Statutory audits and related engagements follow a published sequence so controllers know when document requests, warehouse freezes, and closing meetings will arrive.
Scoping & engagement letter
We confirm the reporting framework, year-end date, subsidiaries, inventory sites, and who will use the opinion. A written fee quote accompanies the engagement letter. No fieldwork begins until both are accepted.
Planning & materiality
The team reviews prior packs, sets planning materiality, maps significant accounts, and issues a document request list. Bank and legal confirmations are opened. Inventory freeze windows are agreed with warehouse leads.
Fieldwork
Auditors examine ledgers, vouchers, and reconciliations—on site for walkthroughs and inventory observation, remotely for much of the substantive testing. Open items are logged daily so surprises do not land in the final week.
Clearance & reporting
Proposed adjustments are discussed with the controller, the draft report is reviewed, and the signed opinion is issued with a management letter ranking findings. A short closing meeting walks directors through residual risks.
What you prepare between stages
Between scoping and planning, assemble trial balances, fixed-asset registers, loan agreements, and related-party contracts. Before fieldwork, complete bank reconciliations through the year-end date and print inventory location maps. Between clearance and signing, respond to open confirmation items the same day they arrive.
