Audit & Assurance

Independent Insights. Trusted Assurance. Informed Decisions.

In Pakistan’s increasingly complex regulatory and business environment, organizations require more than routine statutory audits—they need independent, expert assurance that financial statements are accurate, internal controls are robust, and compliance obligations are fully met. At Faisal Tauheed Rao & Co., Chartered Accountants, our Audit & Assurance services are designed to provide that confidence, enabling stakeholders—investors, regulators, management, and lenders—to make decisions based on reliable, transparent, and rigorously verified financial information.

Our team of highly qualified Chartered Accountants combines deep technical expertise with practical business insight to deliver high-quality audit services aligned with ICAP guidelines, SECP regulations, and International Standards on Auditing (ISAs). We go beyond compliance to evaluate risk management frameworks, operational efficiency, and governance structures, ensuring your organization is audit-ready and strategically informed.

✅ What We Offer

At Faisal Tauheed Rao & Co., Chartered Accountants, we provide a complete spectrum of audit and assurance services designed to enhance financial transparency, operational efficiency, and regulatory compliance. Our approach goes beyond statutory obligations to deliver strategic insights, risk mitigation, and governance enhancement across organizations of all scales.

We combine technical excellence, industry knowledge, and global best practices, ensuring that stakeholders—including shareholders, management, regulators, and investors—can rely on accurate, timely, and actionable financial information.

📘 Statutory Audit

Our statutory audits provide independent assurance on the accuracy of financial statements while ensuring full regulatory compliance.

Annual audit of financial statements under Companies Act, 2017
Adherence to International Standards on Auditing (ISAs) and IFRS
SECP, FBR, and provincial regulatory reporting compliance
Independent auditor’s report for shareholders, lenders, and regulators
Strategic audit planning and execution: Tailored audit strategies identifying inefficiencies, mitigating risks, and enhancing financial resilience
Regulatory compliance and risk mitigation: Ensuring unqualified audit opinions through meticulous adherence to statutory and accounting standards
Integrated materiality and risk assessment frameworks to prioritize audit focus areas

🏢 Internal Audit & Risk Advisory

We strengthen internal controls, governance, and operational oversight through risk-based audit solutions.

Risk-focused internal audits customized to industry, scale, and operational complexity
Comprehensive assessment of internal controls, SOPs, and process efficiency
Recommendations for fraud prevention, regulatory compliance, and governance improvements
Ongoing support to audit committees and boards for reporting, monitoring, and decision-making
Internal control assessments: Enhancing financial oversight, safeguarding assets, and optimizing operational performance
Risk assessment frameworks aligned with COSO and ICAP guidelines

💼 Special Purpose Audits & Agreed-Upon Procedures

Targeted audits for specific stakeholders, contractual requirements, or regulatory purposes.

Limited scope reviews for banks, investors, and regulatory authorities
Agreed-Upon Procedures (AUPs) for specific transactions or operational areas
Contract compliance audits, revenue certifications, and grant audits
Forensic or investigative reviews to identify financial irregularities or misstatements
Donor-specific audits for NGOs and development projects (USAID, UNDP, EU, DFID)

📊 Management Audit & Operational Review

Advanced operational audits to analyze processes, optimize efficiency, and enhance decision-making.

Evaluation of operational workflows, process efficiency, and organizational performance
Benchmarking of Key Performance Indicators (KPIs) and operational metrics
Identification of inefficiencies, leakages, cost overruns, and improvement opportunities
Advisory for business restructuring, strategic planning, and risk mitigation
Ideal for family businesses, manufacturing units, service providers, and growing enterprises

🧾 Tax Audit Assistance

Comprehensive support for direct and indirect tax audits initiated by FBR or other regulatory authorities.

Assistance during Income Tax audits, GST audits, and provincial tax inspections
Preparation of records, reconciliations, and documentation of tax positions
Representation before tax authorities during scrutiny, assessments, or investigations
Guidance to minimize tax risks, penalties, and exposure to litigation
Integration with statutory audit reports to ensure consistency and compliance

📈 Audit of Not-for-Profit & Public Sector Entities

Specialized audits addressing NGOs, trusts, associations, and public sector bodies, ensuring transparency and donor compliance.

Audits under Societies Registration Act, Trust Act, Income Tax Rules, and provincial statutes
Donor-specific audit compliance (USAID, UNDP, EU, World Bank, etc.)
Public sector audit support aligned with PPRA and AGP frameworks
Advisory for financial reporting, accountability, and governance in not-for-profit organizations

🔍 Corporate Governance & Compliance Reviews

Enhancing governance and risk frameworks across corporate structures.

Assessment of corporate governance policies and board oversight mechanisms
Compliance with SECP Code of Corporate Governance
Identification of risks related to board composition, disclosures, internal controls, and compliance monitoring
Recommendations to align operations and reporting with international best practices

⚡ Forensic Auditing, Fraud Detection & Prevention

Proactive measures to detect, investigate, and prevent financial irregularities.

Forensic audits to uncover fraudulent transactions, misappropriation, or operational lapses
Compliance with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations
Implementation of fraud risk frameworks, monitoring systems, and preventive controls
Strengthening financial integrity, investor confidence, and corporate accountability

🔗 Integrated Audit & Assurance Advisory

Our approach combines statutory, internal, operational, forensic, tax, and governance audits into a holistic advisory framework:

Strategic audit planning for risk-based coverage and efficiency
Coordination with tax planning, regulatory compliance, and corporate governance functions
Continuous monitoring of financial and operational risks
Actionable recommendations to enhance internal controls, reporting accuracy, and strategic decision-making
Support for multinational corporations, SMEs, family businesses, NGOs, and public sector entities

Faisal Tauheed Rao & Co. ensures that every audit engagement—whether statutory, internal, operational, or special-purpose—is executed with rigor, transparency, and strategic foresight, providing assurance, insight, and actionable recommendations that strengthen financial governance and corporate sustainability.

💡 Why Choose Us?

- ICAP-Certified Audit Professionals with Extensive Industry Expertise
  Our team comprises highly qualified Chartered Accountants accredited by ICAP, bringing deep technical knowledge and practical experience across diverse business sectors.
- Proven Multi-Industry Experience
  Demonstrated track record in textiles, manufacturing, FMCG, construction, technology, financial services, and non-profit organizations, enabling sector-specific insights and tailored audit strategies.
- Comprehensive Understanding of Regulatory Frameworks
  In-depth knowledge of Pakistan’s regulatory bodies, including SECP, FBR, SBP, and provincial authorities, ensuring full statutory compliance and proactive risk mitigation.
- Insightful, Value-Adding Reporting
  Delivery of clear, accurate, and timely audit reports that go beyond compliance—providing actionable insights, operational recommendations, and strategic guidance to management and stakeholders.
- Collaborative, End-to-End Engagement
  Seamless integration with your management, finance, and governance teams to ensure audits are efficient, minimally disruptive, and aligned with your strategic objectives.
- Commitment to Confidentiality, Independence, and Ethical Integrity
  Maintaining the highest standards of professional ethics, data security, and independence, safeguarding your organizational trust and credibility at all times.

🏢 Who We Serve

Our Audit & Assurance services are tailored to meet the diverse needs of organizations across industries, structures, and regulatory requirements. We provide independent, reliable, and actionable assurance to help stakeholders make informed decisions, maintain compliance, and strengthen financial governance.

Private Limited and Listed Companies
Offering statutory and internal audits, risk assessments, and compliance reviews to ensure financial transparency, investor confidence, and adherence to SECP and FBR regulations.
Public Sector Enterprises
Delivering specialized audit services in line with PPRA, AGP, and government reporting standards, supporting accountability, regulatory compliance, and operational efficiency in state-owned and semi-government entities.
Non-Governmental Organizations (NGOs) and International NGOs (INGOs)
Conducting donor-compliant audits, grant verification, and financial reviews aligned with international aid standards, including USAID, UNDP, EU, and other multilateral funding agencies.
Family-Owned Businesses and Group Structures
Providing operational, management, and governance audits to enhance transparency, succession planning, and internal controls, enabling sustainable growth across generations.
Sole Proprietors and Associations of Persons (AOPs)
Delivering external assurance, financial statement audits, and compliance support to establish credibility with lenders, investors, and tax authorities.
Companies Seeking Funding, IPOs, or Investor Audits
Offering pre-investment due diligence, financial verification, and audit certification to meet investor requirements, facilitate capital raising, and ensure regulatory compliance for public listings.

Our services are customized to each client’s industry, scale, and operational complexity, ensuring not only compliance but also strategic insights, risk mitigation, and enhanced governance.

📞 Ensure Transparency. Build Trust. Stay Compliant.

Whether you need a statutory audit, donor review, or an internal control health check—we’re here to provide thorough, reliable, and regulator-ready audit services.

✅ Book a Consultation with Our Audit Team
📩 Send Us an RFP or Inquiry: Contact Us
📞 Call for a free discussion: Coming Soon

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