Audit & Assurance


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We approach the audit as a service for the benefit of stakeholders. We demand audit excellence and set tough policies to achieve it. We hire talented people and invest heavily in training and tools, including systems for achieving consistency, objectivity and accountability in strict compliance with professional standards.
 
We also rely on experience. Our senior people are extensively involved in the audit process and actively communicate with your company's leadership.
 
At Alliott Hadi Shahid, we meet with clients regularly. Our auditors focus on midsized companies and serve them well.
 
Our Audit Approach

 


We offer a tailored audit approach with a strong emphasis on early planning and knowing how your business functions. This enables us to identify key audit components and tailor our procedures to the unique aspects of your business. The benefit to you is an effective, cost efficient, independent audit, performed in a timely manner by experienced professionals. Our approach involves:

 

 
 
    Risk assessment

 


We assess the risk that errors or fraud may cause a material misstatement of the financial statements.  We next decide whether the identified risks of material misstatement relate to specific relevant assertions related to significant account balances, classes of transactions, or disclosures, or whether they relate to the financial statements taken as a whole and potentially affect many relevant assertions.  We then determine which of the identified risks of material misstatement are significant risks that require special audit consideration.  Our risk assessment process at the account-balance or class-of-transactions level consists of:

 

 
 
o    An assessment of inherent risk (the susceptibility of an assertion relating to an account balance or class of transactions to a material misstatement, assuming there are no related controls); and
o    An evaluation of the design effectiveness of internal control over financial reporting and our assessment of control risk (the risk that a material misstatement could occur in an assertion and not be prevented or detected on a timely basis by the company's internal control).
 
    Communications
 
We communicate closely and regularly with your audit committee, CFO, controller and accounting staff during the audit process. From preliminary audit planning and work, through delivery of reports and communication of internal control related materials, we strive to keep you informed.
 
    Audit tools

 

 

 

We've developed tailored internal control review techniques and forms to use on our audits. We've also developed industry-specific audit programs that are tailored by your engagement team to address critical risks specific to your company. We use field audit software programs to simplify the routine aspects of audit work.

Audit Internal Control Reviews

The high-profile business scandals and failures we have witnessed in recent years are encouraging private companies to place a renewed emphasis on their internal controls. Read More...

Audit Internal Audit

We assist clients to establish an internal audit department. We guide clients in assessing, improving and implementing an internal audit function. The first step is to identify management expectations and benchmark these against leading practices and provide a gap analysis and an action plan to achieve a function that suits the clients' business requirements needs.   Read More...

Audit Financial & Compliance Audits

The firm provides audit services of the highest standards, complying with international auditing standards and maintaining strict quality control procedures. The firm employs advanced computerized methods, developed by the global network on a Microsoft platform. These methods are designed to improve the efficiency of the work routine, with minimal disturbance of the company's ongoing operations, achieving significant added value to the client in the course of the audit. The firm has gained extensive experience in audit work with information systems and has developed advanced EDP audit tools that represent an integral and significant part of the regular audit work in these organizations. The firm conducts special audits for government departments, including the supervision of bodies supported by the state. The firm also represents regulatory authorities (The General Accounting Office, Government ministries, etc.). Read More...

Audit Accounting & Financial Reporting

The firm has much expertise in the audit and assistance in the preparation of financial statements in accordance with both Israeli and international generally accepted accounting principles. Read More...

Audit Sarbanes-Oxley Compliance

We provide Sarbanes-Oxley (SOX) compliance services to companies on a global basis. Core service areas include control analysis, process narratives, risk and control assessment, testing, remediation, and SOX policies and procedures. Read More...

Audit Regulatory Compliance

This line of service offers our clients the examination of regulatory compliance as well as assistance with the implementation of various regulation demands. Services offered: Read More...

Audit Dispute Resolutions

As the pace of business intensifies and globalization grows, the possibility of disputes and other difficulties arise more frequently. And when rules are broken- unintentionally or otherwise - organizations are exposed to risks and problems that they are often not used to dealing with, from fraud and abuse to errors and differences in understanding. Whether these challenges involve dealing across borders with customers, joint venture partners, and foreign governments, or whether they are localized to your own country, they may involve different business cultures and legal systems, as well as unfamiliar regulatory and accountability requirements. Every organization is vulnerable. The risk is real and worrisome. The services we provide include:   Read More...

Audit Anti - Fraud Review/ Forensic Accounting

If you're concerned about financial discrepancies and financial fraud, you need more than an accountant. You need a certified forensic accountant (CrFA) who specializes in forensic accounting. If you want to know why your numbers don't match, call on Alliott Hadi Shahid for an in-depth financial investigation.   Read More...

Audit IFRS Reporting

Today over one hundred countries have adopted International Financial Reporting Standards (“IFRS”) either as originally issued by the International Accounting Standards Board or as endorsed by a particular jurisdiction. And SEC rulemaking suggests that within the next several years the U.S. capital markets will likely have made the transition to IFRS. Read More...

Audit Recovery Audit

Most financial systems are quite reliable, but none are flawless. As a result, payment and collection errors exist in every organization due to inefficient system controls, inconsistent processes, organizational change, and other factors. Most mature companies recognize recovery auditing as a financial best practice. AHS is likewise recognized as the recovery audit leader for their unparalleled results and proven process. Read More...


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