Essentially, a Company Audit Report is a certified financial review conducted by an independent auditor to verify the accuracy of your financial records. Furthermore, it ensures your business complies with the Companies Act 1994, NBR, and RJSC regulations.
Typically, a standard audit report includes:
Auditor’s Opinion: A formal statement on financial accuracy.
Balance Sheet: A snapshot of assets and liabilities.
Profit & Loss Account: Detailed revenue and expense tracking.
Notes to Accounts: Explanations of specific financial figures.
Cash Flow Statement: Analysis of cash movement.
Accounting Policies: Disclosures regarding financial methods.
Notably, without an audit report, your company cannot file its annual return or corporate tax properly. Therefore, it is the backbone of your annual legal obligations.