A special purpose audit implies a focused audit aimed at certain areas of accounting/financial statements.
During such an audit, we examine certain sectors of accounting/activities, such as:
• Prescribed use of funds
• Examinationof the statutory fund formation
• Correctness of accounts receivable and/or payable
• Correctness of interest accrual on loan agreements
• Examination of compliance with contract conditions
• Providing an assurance relative to specific expenses
• Correctness of inventory items accounting
Direction, timeframe and volume of a special purpose audit are always agreed with the client.