Audit & Assurance
It has never been more vital to be able to have confidence in an audit. Audit quality is of fundamental importance for maintaining trust in the financial reporting process and the integrity of financial information.
We work closely with our HLB member firms across the globe. We ensure that multi-national audits are carried out in a consistent and high quality standard.
HLB is a member of the International Federation of Accountants’ Forum of Firms. This means we are committed to the highest quality standards in financial reporting and auditing practices with all members meeting specific quality criteria both nationally and internationally.
How we help clients
We can assist companies with their audit requirements. In Fiji, public companies are required to have an audit each year. Private companies are not required to have an audit but may be required to do so by the Reserve Bank or Investment Fiji.
Our audit team undertake external and internal audits, forensic assignments and international audits.
We focus on key areas of risk, adequacy of internal controls and potential areas of fraud. The experience of our audit team covers many industries and service sectors.
We are members of HLB International, the global advisory and accounting network. A globally coordinated internal quality assurance program requires that all HLB International member firms pass a quality assurance review on a regular basis.
This approach gives clients the reassurance they need in today’s business climate.
Financial statement services are a key part of the HLB network and we have sought continued excellence in this area by adopting new technologies, implementing new methodologies and staying at the forefront of current developments, including regulatory changes and international standards.
We believe it is the powerful combination of the best people, empowered by market-leading technologies, that enables us to deliver quality and value at a whole new level. We are committed to providing a high-level technical service, backed-up by meeting deadlines, attention to detail and respecting your time and schedules. Whether you’re a large corporation that is privately held, a not-for-profit entity, a government department, or a state-owned enterprise, our audit professional aim is to deliver added value to every audit engagement.
Internal auditing in general is defined by the Institute of Internal Auditors as an ‘independent, objective assurance and consulting activity designed to add value and improve an organisation’s operations. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, internal controls, and governance processes.’
Our internal audit team is built on professionals experienced in financial and operational internal auditing, IT, fraud analytics and risk assessment, finance management, treasury and financial instruments to enhance an organisations’ existing internal audit capabilities.
Special reviews can be undertaken as a result of requests by clients from findings identified in the course of an audit or from external concerns. Applying our experience and expertise in auditing, we can help identify fundamental issues through a range of non-statutory and special purpose audits.
We can assist with developing client-specific management strategies that include engagements such as special review audits that focus on grant audits, agreed-upon procedure engagements, audits of individual components of financial statements, and corporate governance reviews.
Pursuant to the Trust Accounts Act of 1996, all law firms are required to have their trust accounts audited by an individual or firm which is the holder of a current Certificate of Public Practice issued by the Fiji Institutes of Accountants. Practitioners must carry out an audit of the trust accounts irrespective of whether any transactions or movement took place in the trust account.
With HLB’s diverse experience with auditing and knowledge of regulatory framework, our audit team will ensure the trust audit report is completed in accordance with the Trust Accounts Act, and the final audit report is filed with the respective government Ministry within the required reporting timeframe.