Audit & Assurance
Independent, rigorous, and objective evaluation of financial statements ensuring regulatory compliance and stakeholder confidence.
Under the Companies Act, 2063, the Nepal Standards on Auditing (NSA), and ICAN directives, independent assurance forms the cornerstone of financial integrity. Sima & Associates provides comprehensive audit services designed to deliver compliance, identify operational vulnerabilities, and strengthen internal control environments.
Detailed Scope of Engagement
1Statutory Audit
Comprehensive annual examination of financial statements for public and private limited companies in accordance with NSA, delivering an independent audit report on the true and fair view of accounts.
2Tax Audit
Specialized examination under the Income Tax Act, 2058, reconciling accounting profit with taxable income and verifying compliance with allowable deductions, depreciation schedules, and tax exemptions.
3Internal Audit & Risk Advisory
Systematic evaluation of organizational governance, risk management frameworks, and internal control systems to assist management in mitigating operational leakages.
4Investigative & Forensic Review
Targeted financial investigations conducted at the request of management or judicial stakeholders to establish factual evidence regarding financial irregularities or control overrides.
5Development Sector & Project Audits
Audits for non-governmental organizations (NGOs) and international agencies operating in Nepal, verifying compliance with project agreements, Social Welfare Council (SWC) rules, and donor covenants.
Statutory Deliverables
- Independent Auditor's Report with 18-digit ICAN UDIN
- Audited Balance Sheet, Statement of Profit or Loss, Cash Flows, and NFRS Notes
- Comprehensive Management Letter highlighting internal control observations
- Income Tax Assessment reconciliation schedule
Formal Engagement Notice
Professional audit and assurance appointments are established strictly in accordance with NSA 210 upon independence review, engagement letter signing, and resolution at the Annual General Meeting (AGM).