Internal Control & Compliance Review

A statutory audit leads to an opinion on the annual financial statements, and controls are examined only as far as they matter to that opinion. An internal control review looks at the controls themselves: how processes are designed, whether they operate as intended and where gaps exist. It can focus on specific areas such as procurement, payroll or treasury, and ends with practical findings for management and the audit committee.

In an AUP engagement under ISRS 4400, the client and intended users agree the specific procedures in advance, such as testing inventory counts, contract balances or a particular process. We perform those procedures and report the factual findings. No audit opinion or assurance conclusion is given, so users draw their own conclusions. AUPs suit situations where a board, lender or regulator needs targeted checks rather than a full audit.

SOX applies to companies registered with the U. S. Securities and Exchange Commission, not to Bangladeshi companies as such. However, Bangladeshi subsidiaries of U. S. -listed groups are often in scope for their parent's SOX 404 testing of internal control over financial reporting (ICFR). Domestic listed companies can also use ICFR frameworks to strengthen board reporting on internal control. Our work covers risk and control matrices, walkthroughs, testing and remediation support.

Financial due diligence examines the target's historical earnings, working capital, balance sheet risks and any undisclosed liabilities. It typically includes a quality of earnings analysis, normalised EBITDA and a review of debt-like items that may affect the price. The findings help buyers, investors and lenders negotiate terms, structure the transaction and plan protections such as warranties or price adjustments before signing.

An interim review is a mid-period health check of accounting and controls carried out between annual audit cycles. It verifies interim accounting treatments, reconciliations and whether key controls are working. Companies use it to identify problems early, before they become year-end audit findings, and to support reliable quarterly and half-yearly reporting, which listed companies in Bangladesh publish under BSEC requirements.

A compliance review measures how the business operates against the rules that apply to it, including local regulatory requirements, tax and VAT laws, environmental directives and internal codes of ethics. We identify gaps, rate the risks they create and agree practical steps to close them. A review can cover the whole business or focus on a high-risk area, and it gives the board a documented view of compliance status.