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What We Do
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Audit and Assurance
We leverage our strong technology to provide trust on shifting business demands and stakeholder expectations, with excellence at the center of our operation and a variety of services. We collaborate with you to create transparency across financial and non-financial reporting by taking a comprehensive picture of your organization.
Our team has the knowledge and experience in all aspects of audit and assurance. We have worked on many external audits and have been maintaining an excellent track record.
Our audit and assurance services include the following:
- Statutory audit for regulatory compliance
- Non-statutory assurance engagements
Gross Turnover Audit (GTO)
The tenancy agreement between the landlord and the tenant has a general clause requiring the tenant to provide an auditor-certified monthly sales report for the leasing of premises within the time frame specified from the tenant’s financial year end.
The licensee/tenant is required to employ an auditor to review its records and produce a certificated report to the property management in order for the certified report to authenticate the quantity of sales for the relevant time. The auditor’s certified report establishes that the financial accounts give an accurate and fair picture of the monthly gross sales turnover.
Conducting a GTO Audit has a lot of advantages:
- It gives confidence and ensures that the lease agreement is followed.
- The landlord has reasonable certainty that the gross sales figure on the financial statement is correct and full.
- By detecting any unrecorded money, a good gross revenue audit may decrease revenue leakage and hence increase the tenant’s profitability.
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Special Purpose Audit
The auditor’s reports are generated by conducting a special purpose audit based on the following financial messages:
- Prepare the financial statement on the basis of the unique foundation (e.g. tax basis, cash basis system, the report requirements of regulators)
- One or more financial statement components
- Financial statements in brevity
- Special Audit Based on Managerial Level Requirements
Technical On-Call Advisory
Our professional team can help you with following:
- Reviewing of existing contracts to identify any effect under new guidance
- Providing suggestions on accounting documents and disclosures under new standards
- Performing computations for transitional periods
- Guiding of team on new standards and how it may affect the organization
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Agreed-Upon Procedures (AUP) Reports
Agreed-upon procedures (AUP) reports let you assess the procedures and findings, and draw your own conclusions from our auditor’s work.
An agreed-upon procedures (AUP) report is useful for the following:
- Income and expenditure certification grant disbursement statements
- Lucky draw under common gaming houses (exemption) notification
L L Low & Associates | Who We Are
Whether you’re a small business startup or a multinational corporation, we are equipped to help you handle and manage your audit, assurance and financial work.
Why We Are Different
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We go the extra mile
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Tailor-made solutions
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Wide network of industry experts
Our Accreditations
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