Assurance

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   Assurance is more than a reactive matter. We take a proactive approach, addressing the ecosystem of variables that decision-makers must consider—providing value and insight that brings greater clarity, inspires more confidence, and unlocks opportunity that goes beyond the expected.

   Mitigating Risks in a transformative Regulatory Environment, NRE provides a full range of Assurance services including review of Internal controls, compliance management systems.

Audit is an important part of the financial reporting ecosystem. Powered by Global Network of Audit Professionals, NRE offers a full range of Audit services. Partner with a team that leads the way to an impact beyond expectations. Focusing on high-Quality and with full understanding of business environment.

NRE's typical Audit process includes 5 phases:

   The first phase of the audit will be developing a mutually agreeable timetable for our work. We propose the timetable included in the following paragraphs. 

Initial planning for the audit of the financial statements will include:

• A review and preliminary evaluation of the entity’s internal controls, based on completing internal control questionnaires, to determine our audit approach.

•  Completion of analytical review procedures to help identify those audit areas that are most material, in our opinion

• Determination of audit confirmation sample sizes and materiality levels. 

• Based on the information we gather, we will complete our initial risk assessment and develop our approach with the goal of focusing our attention on those areas that appear to have the greatest audit risk.

 The purpose of reviewing the designs given to us is to identify:

• The specific control procedures or techniques that the organization has established to achieve the control objectives set by management.

• The specific control objectives that relate to points in the flow of transactions. Our next step will be to test the company’s compliance with the system of internal control.

• The company’s internal control structure and key business processes will be reviewed as part of the audit planning process.

• Identify problematic areas to eliminate surprises at the final stage.

   A team of auditors to carry out audit testing procedures including stock count at the end of the year. This will cover all accounting areas in order to complete the audit execution procedures for the financial statements assertions at accounts level and build towards the completion of the audit.

Part of our substantive Audit tests will be performed during the interim audit.

However, the majority of these tests will be conducted during the field work after preparation of the financial statements.

The purpose of these tests is to support the management’s assertions on the financial statements.

An analytical review of year-end results will be performed as compared to our substantive testing date, and we will review management’s financial statements.

A draft of our management letter will be discussed.

This will include pragmatic recommendations to improve controls and efficiencies. 

We will prepare a client service file containing the key documents and reports issued.

1. Communication/Circulars.
2. Ongoing accounting advice and discussions on accounting standard developments.
3. Conclusion of the audit, approval of the financial statements and letter of representation from the management.
4. Audit report on financial statements & management letter, if required.