Establish Your Auditing
with One IBC
Build a reliable and transparent auditing system with support from One IBC’s experienced team. We ensure compliance, clarity, and accuracy at every stage of your financial process.
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Why Use One IBC for Auditing
Why Use One IBC for Auditing
Legal Compliance
We ensure all practices meet local and international standards, reducing risk and ensuring transparency.
Efficiency & Precision
Our team delivers fast, accurate solutions to support smooth business operations.
Global Standards
We apply trusted accounting frameworks for full international compliance.
How to Set Up Auditing
Define Audit Scope
Set audit objectives, timeline, and the areas to be reviewed.
Prepare Financial Records
Provide complete financial statements and relevant documentation.
Risk Assessment
Identify key risk areas and tailor audit procedures accordingly.
Perform Audit Testing
Check transactions, verify balances, test controls, and assess compliance.
Summarize Findings
Highlight discrepancies, issues, and key insights from the audit process.
Issue Audit Report
Deliver a formal opinion on the accuracy and fairness of the financial statements.
Why Choose Us
As a global management consulting firm, we drive competitive success by delivering measurable results. We help clients boost performance and innovation through sustainable, efficient execution.
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Professional
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Frequently Asked Questions
If you have formed a HK company, you’ll receive your first Profit Tax Return (PTR) in 18 months after the date of incorporation. Thus you’ll need to well prepare your accounting records and submit your first audit report together with the completed tax return to the IRD.
XBRL is an acronym for eXtensible Business Reporting Language. Financial information is converted to XBRL format then, sent to and fro between business entities. Singapore government has mandated it for each Singapore company to file its financial statements only in XBRL format. The analysis of the data, thus, accumulated gives accurate information about the trends in finance.
In the UK, it is generally discouraged for external auditors to also perform internal audit functions due to independence and conflict of interest concerns:
External Auditors provide an independent opinion on financial statements, which requires them to remain completely independent from the organization they audit.
Internal Auditors assess and enhance internal controls and governance within the organization, often working closely with it, which could compromise the independence required of an external auditor.
Mixing these roles can lead to conflicts of interest and may impair the external auditor's ability to provide an unbiased opinion. UK professional standards, upheld by bodies like the Institute of Chartered Accountants in England and Wales (ICAEW) and the Association of Chartered Certified Accountants (ACCA), emphasize the importance of maintaining strict auditor independence, thereby generally advising against an external auditor undertaking internal audit duties.