» Auditing Service

Financial Auditing is a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events to ascertain the degree of correspondence between those assertions and established criteria and communicating the results to interested users. The objective of an audit is to provide a reasonable basis for expressing an opinion regarding the financial statements taken as a whole and that the accounts presented to the public or shareholders are accurate and justified. The results of the financial auditing procedure can be presented to shareholders, banks and anyone else with an interest in the company. One of the main reasons for a financial audit is to ensure that the trading company is not practicing any deception. This is the reason that the financial auditing body is an independent third party.

Rexon conducts audit in accordance with auditing standards established by the Indonesian Institute of Certified Public Accountants (IAPI). Accordingly, our auditor will examine, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assess the accounting principles used and significant estimates made by management, as well as evaluate the overall financial statement presentation in accordance with the requirements of the Statements of Financial Accounting Standards (PSAK) issued by the IAPI. Through the audit exercise, the auditor will give an independent audit opinion of the accounts prepared. Accordingly, our opinion on such financial statements depends on the results of the audit procedures which we will conduct.

Our methodology is a particular set of processes or procedures used to assess a company's financial statements and business risks. Our audits generally test financial information for accuracy and validity. Some of audit procedures focus on non-financial aspects, however. For example, business risk audits test partner compliance with agreement, standard operating procedures, guidelines, or contact. Significant variances found during the audit will be reported in the management letter.

Our audit methodologies typically consist of four parts, including a preliminary risk assessment, a planning stage, a testing phase, and an exit meeting. A preliminary risk assessment normally begins with an interview of company management. This meeting usually determines the depth and breadth of the audit methodology because company management generally will disclose their business's highest risk areas. After the meeting, our auditors usually compile their notes and write up a formal agreement outlining the scope of the audit. Changes to the audit methodology may require a separate addendum to the original written agreement. Once the preliminary risk assessment phase is complete, we will typically begin the planning stage. The planning stage of audit methodology introduces our auditors to each business area they will be auditing. Walk-throughs will be needed during this stage of the audit to familiarize our auditors with company employees and their specific responsibilities. Additional weaknesses discovered by auditors will be noted. The testing phase is the meat of the audit methodology process. We will actively review financial information or business processes to determine any violations of the financial accounting Standards or internal operational standards. A sample is usually taken from large groups of information and tested independently by our auditors. If too many failures occur in the first test sample, the audit methodology may require our auditors to test an additional group of information or simply write up the initial sample as a failure or violation of company standards. Once the testing phase is complete, we will typically have an exit meeting with company management. The exit meeting represents the wrap-up phase of the audit methodology. This meeting allows us and the management to review the audit results and discuss any major violations or failures discovered during the testing phase. Formal audit opinions are usually filed within a week of the audit exit meeting. Companies may also choose to dispute audit findings during the exit meeting if the violations are minor or insignificant compared to the company's aggregate operations. Audit methodologies may require companies to have a second audit if too many violations were discovered during the first audit.

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