Accounting and Internal Auditing system of Shameem Khaled Salahuddin & Co. Chartered Accountants

Abstract

The internship report, "Accounting and Internal Auditing system of Shameem Khaled Salahuddin & Co. Chartered Accountants” explores into the world of auditing. During my internship, I focused on learning how chartered accountants conduct audits and the techniques they use to ensure that financial information is accurate and follows the rules. In the report, we explore various aspects of auditing, such as how audits are planned, the assessment of risks, testing procedures, and the reporting of findings. This systematic approach to auditing helps maintain trust and reliability in financial reporting. Additionally, we look closely at assurance practices. Assurance means making sure that financial information is correct and complete, which gives confidence to the people who rely on that information. We observed various techniques, like substantive testing and analytical review, being used to achieve this. The report also covers the process of forming an audit team. It explains how teams are put together, with different members taking on specific roles and responsibilities. Teamwork and coordination are essential for conducting effective audits. Throughout my internship, I had the opportunity to learn from experienced chartered accountants. They shared their expertise in audit techniques and compliance standards, which are crucial for maintaining the accuracy and reliability of financial statements. In conclusion, this report is a valuable resource for those interested in auditing. It provides real-world insights into how a reputable audit firm, Shameem Khaled Salahuddin & Co., conducts audits and ensures the integrity of financial information.