About Us
Overview
Sanish & Associates, a sole proprietorship firm. Its focus is to render an effective and value-added service to our client. We have experience in diverse fields like accounting, auditing, financial, management, tax and corporate related legal consulting and advisory services. It has an expertise team capable of supporting management, tax and company related needs of the clients under an umbrella. We provide external audit/internal auditors, accounting & financial statements preparation, Management & financial consultancies, systemizations & mobilizations, company formations & project feasibility, financial & tax experts, liquidation & reformation, trademark & patent registrations, feasibility studies services.
The firm specializes in serving in Co-operatives, International and Non-Government Organization (I/NGOs), Manufacturing, Trading, Infrastructure development, Educational Institution, and many more.
.Our clients expect us to help them navigate through constantly changing accounting rules in turbulent business environment, however, we understand the value of our relationship as a trusted advisor comes through the time, we invest to understand the specific requirements of organization.
At Sanish & Associates, leadership is at the core of our corporate responsibility strategy. Our programs are guided by one common commitment to do what is right for our clients, our people, our communities, and the environment. We deliver our services as a trusted business advisor by developing our people to be responsible leaders who demonstrate our leadership as good corporate citizens.
Our Vision, Mission & Quality Policy Statement
Vision
Our vision is to turn our expertise into value for the benefit of our clients, people, and our capital markets.
Mission
The firm adopts latest tools in Audit and Financial & Company related legal Consulting Services around the world. Every time, it keeps exploring new ideas, concepts and different avenues for ultimate quality services which will never be paused. At Sanish & Associates, leadership is at the core of our corporate responsibility strategy. Our programs are guided by one common commitment: to do what is right for our clients, our people, our communities, and the environment. The firm delivers services as a trusted business advisor.
Quality Policy Statement
Commitment to deliver Audit, Tax & related financial and company related legal Consulting Services at right time, in right way and for right price targeting to exceed clients’ satisfaction by investing our teams’ expertise with a result of latest methodology, enhanced personnel training, and continuous improvement programs.
OBJECTIVES & SCOPE OF WORK
Objective of Work
The main objective of the audit is to enable the auditor to express an independent professional opinion on:
⦁ Review the internal control and accounting system of the organization.
⦁ To assess whether the accounting system and procedures adopted by the organization are maintained as per the Nepal financial reporting standards (NFRS) and generally acceptable accounting principles and following legal provisions of the corporate and Taxation Laws of Nepal.
⦁ Evaluate the performance of the organization in terms of its financial operations, budget, and related financial management.
⦁ Assess the efficiency and effectiveness of the organization procurement functions.
⦁ Any other matter having a significant impact.
⦁ Books of account maintained by the organization and operations of the organization.
⦁ Financial and Company related legal Consulting Services.
Scope of Work
The Financial and Consulting Services shall confirm:
⦁ Plan for the engagement will be performed effectively.
⦁ Planning to establish the overall strategy for the engagement and developing an plan, to reduce audit and financial risk to an acceptably low level. Planning should involve the engagement of sub-recipients (if applicable) and other key members of the engagement team to benefit from their experience and insight and to enhance the effectiveness and efficiency of the planning process.
⦁ Experts maintains the necessary independence and ability to perform the engagement.
⦁ The Experts should conduct an audit of the accounting system to ensure that the financial statement presents a true and fair view of the organization accounting system and free from material mis- representation of the financial statement.
⦁ Check, evaluate and ensure the compliance of organization Policies and Procedures.
⦁ Evaluate the adequacy of an internal control system and compliance thereon.
⦁ Ensure compliance with the Income Tax Act and VAT and other Tax laws requirements of Nepal and all applicable laws governing cooperative organization.
⦁ Check the Procurements and ensure adequacy and compliance with the procurement policy of the
organization.
⦁ Experts will maintain necessary confidentiality of the organization policies, procedures, and audit findings.
⦁ Cover the period as per TOR.
FINANCIAL, CONSULTING SERVICES APPROACH & METHODOLOGY
We always make effort to strengthen our quality in line with the expectations of our clients, their investors, and the regulatory authorities. We have long pursued this objective through the continuous assessment of our procedures, making sure that they remain as robust as possible and that they keep pace with the latest requirements.
Engagement Letter
We document and confirm our acceptance of appointment through engagement letter along with welcome letter preferably before the commencement of the engagement to avoid the misunderstanding.
Our Audit Approach
The audit methodology and the audit techniques to be used are those which accord with international auditing standards by inspection of original supporting documents.
Overall procedures are governed by Nepal Standard on Auditing (NSA) issued by the Institute of Chartered Accountants of Nepal (ICAN).
The brief procedures of our approach to audit engagement have been presented below in three stages.