Financial Audit
We evaluate the reasonableness of financial information through audit procedures, with independence, technical rigor, and adherence to applicable professional standards.
Financial statement audit
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Execution of financial statement audits through formal engagements.
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Audit planning and scope definition.
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Identification and assessment of risks of material misstatement.
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Design and execution of audit procedures.
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Obtaining and evaluating sufficient and appropriate audit evidence.
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Evaluation of accounting policies, estimates, and significant judgments.
Professional standards and accounting frameworks
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Application of Generally Accepted Auditing Standards (GAAS) corresponding to the engagement.
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Evaluation of financial statements in accordance with the applicable financial reporting framework.
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Review of the application of International Financial Reporting Standards (IFRS), where applicable.
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Evaluation of accounting recognition, measurement, presentation, and disclosure criteria.
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Consideration of regulatory and professional requirements relevant to the audit.
Evaluation of relevant financial areas
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Examination of accounting balances and significant transactions.
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Evaluation of items, estimates, and higher-risk operations.
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Review of background information and supporting documentation.
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Application of substantive tests and, where applicable, tests of controls.
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Analysis of misstatements identified during the audit.
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Evaluation of subsequent events and other matters relevant to the financial statements.
Audit results and reports
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Evaluation of the results and evidence obtained.
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Analysis of identified misstatements and their effect on the financial statements.
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Communication of relevant findings to management and those charged with governance of the entity, as appropriate.
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Formulation of conclusions in accordance with applicable professional standards.
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Issuance of the audit report and the corresponding professional opinion, in accordance with the results of the engagement.
Trust backed by evidence.
A financial audit provides an independent evaluation of financial statements, helping to strengthen confidence in the information used by partners, investors, and other stakeholders.
At TIME, we carry out our engagements with independence, technical rigor, and a risk-based approach, applying procedures aimed at obtaining sufficient and appropriate evidence to support our professional conclusions.