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. That is why HLB International member firms work continually to ensure that multi-national audits are carried out consistently and to a high standard across the network.

Member firms provide audit services to a wide range of clients across the world. The experience of audit teams, covering many industries and service sectors, enables them to focus on key areas of risk, adequacy of internal controls and potential areas of fraud.

A globally co-ordinated 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.

Key features of the HLBI audit approach that help accomplish our objective of providing high quality services are:

  • An emphasis on obtaining a thorough understanding of the client’s business, the industry in which the client operates and the internal control environment. This helps us to identify potential areas of risk associated with the particular entity that have an impact on the audit, to communicate more effectively with management, and to develop client service objectives that enhance the benefits that the client will receive from our audit.

  • An account balance focus that enables us to identify promptly significant accounts and high-risk areas. This is done by encouraging consideration of business and environmental aspects of the client in deciding “what could go wrong” and by focusing attention on the client’s estimation/judgment processes separately from the routine and non-routine data processes.

  • The integration into our approach of the impact of information systems in recognition of their use in most businesses today.

  • A risk assessment process that is central to the audit approach and provides the basis for planning the minimum effort necessary to hold audit risk in each area to an acceptably low level. This process enables us to plan our efforts to be responsive to the likelihood of errors of audit importance, and to select audit procedures that directly relate to the client’s particular situation.

  • The recognition of the importance of engagement economics and staff utilisation by providing for judgement and flexibility in performing work at the planning stage. At the same time, however, the approach recognises that the audit effort in respect of the period between the planning stage and the year-end should commensurate with the level of risk.

HLBI is always looking to strengthen audit quality in line with the changing expectations of our clients, their investors and the regulatory authorities.  We have long pursued this objective through the continuous assessment of our audit procedures, making sure that they remain as robust as possible and that they keep pace with the latest requirements.



Zaid Mohammed

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Laura Wesley KemueliLaura Wesley-Kemueli

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Sheenal KaranSheenal Karan
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