Our working method

Our audit method is based on the assessment of possible risks. We consider environmental factors, control risks and important decisions in the financial statements. Sensitive assessments from the combination of these factors are the basis of the audit strategy and detailed by the audit program.

The expansion of audit procedures will depend on a thorough understanding of the Company's operations and cycles. At the same time, we help your Company in minimizing and managing business risks by offering the weaknesses recorded in the audit process that the Board of Management should consider.

The audit method of CPA HCM is based on risk assessment, so it focuses on the main issues that need attention. We note the importance and note when assessing the general environment as well as the risks associated with special items of the financial statements. Our way of always putting efficiency first and finding ways to not increase the cost for your Company related to unnecessary work.

In a simpler way, the CPA HCM audit method focuses on reviewing compliance with principles and processes (if necessary) and assessing the management of your Company's business operations.

The central part of our audit method is to develop an audit plan in conjunction with the support of the Company's Board of Directors. This directs the audit effort into areas of business risk. During the audit process, critical issues and risks will be identified and thereby determine the audit procedures necessary to review the review in order to secure the data of the financial statements are prepared.

Concretizing our audit method to achieve the set objectives, our audit method is divided into the following stages:

Stage 1: Planning and auditing strategies

  • Perform auditing before the fiscal year to learn about the business environment and operation system of the Company;
  • Evaluate business risks, possible errors;
  • Initial assessment of the internal control system
  • Proposing audit methods and preparing audit programs including specific steps to perform audit procedures.

Stage 2: Perform audit procedures to collect audit evidence

  • Re-evaluate the internal control system
  • Reconfirm auditing methods and specific audit programs
  • Carry out audit procedures to collect audit evidence;
  • Evaluate the collected audit evidence.

Stage 3: Review and report

  • Collect feedback from the Board of Directors of the Company, select and combine comments if necessary and revise the Draft Audit Report. On that basis, prepare an official audit report;
  • Auditor Partner together with the auditing director together review the audit evidence collected and give the final audit opinion for the financial statement
  • Prepare management letter including the Board's feedback on the issues raised.

Stage 4: End auditing and meeting to withdraw experience

  • Organizing a final meeting with the Board of Directors of the Company to discuss the main issues arising from the audit;
  • In this meeting we will collect feedback from the parties to ensure that the requirements have been met and especially the Board of Directors feel satisfied with the results of the audit. Issues to improve are also mentioned to ensure that the audit for the following years will be conducted more effectively and better.
  • Talk to the Board of Directors about changes if any about the scope of work for the next audit.