Assurance Service

The mission of Magic audit team is providing high quality auditing services in fair and independent approach. While performing the audit, not only do we give opinion on financial statement, but also provide service with sense of client’s business culture, business domain, market situation and traditional risk.

All the branches of Magic follow the same method and apply same mode of operation. This auditing experience allow us to define the risk that client could encounter with.

Hence auditing partner, manager, auditor and accounting professionals are specifically prepared for checking if the financial statements are prepared in adequate method, an opportunity to avoid audit risk can be found. 

Our priority is to evaluate how every changes in common principles and IAS may affect the client’s operation and give the most specific opinion. We help our clients following the local law and regulations.

What is the benefit of an audit?

  • Opportunity to find accounting misstatements and identify risks
  • Opportunity to correct material misstatements of financial reports.

Our auditing approach

  • We conduct auditing in accordance with International Standards on Auditing (ISA) issued by International Auditing and Assurance Standards Board (IAASB). Auditor conducts audit under following work plan.

  • Obtain understanding of the entity
  • Identify company risks
  • Obtain understanding of an internal control
  • Do research on changes of accounting reports and income statements
  • Determine materiality
  • Identify risks of balance and income statement accounts

  • Perform calculation and comprehensive test on each account where risks wre identified
  • Perform counting process
  • Perform confirmation process

  • Prepare recommendations on necessary adjustments and misstatements
  • Deliver an auditing report
  • Management letter
  • Perform audit quality review
  • Auditing report is presentation for the management