ACCOUNTING & INTERNAL AUDIT SERVICES

ACCOUNTING & INTERNAL AUDIT SERVICES

We offer a comprehensive accounting service to companies who desire to outsource their specialist accounting functionand have complete knowledge about treatment of accounting transactions as per International Accounting Standards. IBS has a dedicated and well experienced team that is ready to take on the role of your account department.
Our unrivalled range of specialist industry knowledge provides comfort that all day-to-day to complex transactions are accounted for correctly.
Our service offerings cover all aspects of the accounting function, including:

PREPARATION

  1. Preparation of Ledgers (Reporting on daily basis).
  2. Preparation of Quarterly Financial Statements.

CASH MANAGEMENT

  1. Monthly Cash Book.
  2. Bank Reconciliation.
  3. Invoice/ payment processing
  4. Treasury control

DEBTORS CONTROL

  1. Sales Invoicing
  2. Aged debtors report

CREDITORS CONTROL

  1. Purchase Invoice authorization
  2. Aged Creditors

MANAGEMENT REPORTING

  1. Trial Balance
  2. Nominal Ledger Listings
  3. Report issued monthly etc.

OTHERS REPORTS

  1. Cash flow Reporting
  2. Budgeting Control
  3. Fixed Assets register
  4. Financial Analysis and Risk control

INTERNAL AUDIT 
Internal Audit Services of the Company focus on managing business and operational risks. Driven by an understanding of the business strategies, goals and key business processes of our clients that include companies quoted on the Karachi Stock Exchange and unquoted public companies as well, our primary activities here involve reviewing internal control procedures for their efficacy and appropriateness and reporting to clients any operational and profit improvement opportunities.

Our team established a system in which they visited once in a week and verify your process and systems after then they provide a compliance report in which analysis of Internal controls are clearly mentioned alongwith their deficiencies and improvements.

Since a number of our clients have branches, we ensure that our internal audit work is carried out in accordance with the ISA’s and the Companies Ordinance, 1984 and Auditing Standards and Guidelines issued by the Institute of Chartered Accountants. We also ensure that the financial statements conform to the applicable accounting standards viz IFRS, GAAP, SSAP, and IAS.

  1. Answer Audit queries
  2. Update trial balances with audit year end audit adjustments.
  3. Association with companies we audit
  4. Clear standards and robust audit tools
  5. Performance of effective & efficient audits
  6. Commitment to technical excellence & quality service delivery.