Third Party Audit in Pakistan

When a partner, investor, bank, franchisor or donor needs an independent view of how a business is actually being run, a third-party audit gives them one. We examine records, stock, cash and controls — on their behalf or yours — and report what we find in plain terms, backed by evidence. Typical engagements include partnership disputes, stock verification, distributor compliance and fraud examination.

OUR SERVICE

What's Included in a Third Party Audit

Every engagement starts with an agreed scope: what is being checked, for whom, for which period and what the report needs to answer. That keeps the work focused and the fee predictable.

Scope & Engagement Letter

We agree the objective, period, locations and reporting format in writing before fieldwork starts.

Books & Records Review

Ledgers, bank statements, invoices and QuickBooks or Xero data tested against the source documents.

Stock & Asset Verification

Physical counts of inventory and fixed assets reconciled to the books, with every variance explained.

Internal Controls Testing

We test how cash, purchases, payroll and approvals actually work — not just how they are meant to.

Tax Compliance Check

Income tax, sales tax and withholding filings checked against the books to find exposure before FBR does.

Written Findings Report

A clear report of findings, evidence and recommendations, suitable for partners, lenders or legal proceedings.

Who Commissions a Third Party Audit

Partners & Investors

A partner who is not running the business day to day and wants an independent picture of the numbers.

Banks & Lenders

Stock and receivables verification for financing, or a review before a facility is renewed.

Franchisors & Principals

Checking that franchisees, distributors or agents report sales and stock correctly.

Owners Suspecting Leakage

Owners who suspect losses in cash, stock or purchasing and need it examined quietly and properly.

NGOs & Donor-Funded Projects

Organisations that need an independent review of how project funds were used.

What a Third Party Audit Is — and Is Not

A third-party audit answers a specific question for a specific reader. It is not the annual statutory audit of a company. Under the Companies Act 2017, the statutory audit of a company’s financial statements must be carried out by a chartered accountant firm, and we do not sign statutory audit reports. What we do is the independent work around it: reviews commissioned by partners, lenders, principals or management, where the question is narrower and the answer is needed faster. The most common engagement we see is a partnership where one partner handles the money and the other has stopped trusting the figures. The second is stock — a lender or a principal wants to know whether the inventory in the books actually exists in the godown. The third is leakage: margins are falling, the owner suspects something, but cannot prove it. In every case the value of the report depends on the evidence behind it. We tie each finding to its source record, so the report can be relied on in a negotiation, a bank file or, if it comes to that, a legal proceeding. If the review shows your books need rebuilding, our QuickBooks bookkeeping service can set them up properly going forward.

How a Third Party Audit Works

Step 1: Scope & Quote

We discuss what you need answered and send a written scope with a fixed fee.

Step 2: Document Request

We issue a list of the records needed and agree access to premises, systems and staff.

Step 3: Fieldwork

Records are tested, stock is counted and controls are walked through — on site or remotely.

Step 4: Report & Discussion

You receive a written report of findings, and we walk you through it and the next steps.

Frequently Asked Questions

Is a third party audit the same as a statutory audit?

No. The statutory audit of a company’s annual financial statements is required by the Companies Act 2017 and must be signed by a chartered accountant firm. A third-party audit is an independent review commissioned for a specific purpose, such as a partnership dispute, stock verification or a fraud concern.

How long does a third party audit take?

It depends on the scope. A stock verification at one location can take a few days; a multi-year partnership review can take several weeks. The timeline is fixed in the engagement letter.

Can the report be used in a dispute?

Each finding is linked to its source document, so the report can support a negotiation or legal proceedings. Whether it is admitted and how much weight it carries is for the forum to decide.

Will the other party know about the audit?

That depends on the engagement. Some reviews are carried out openly with full cooperation; others, such as a fraud concern, are planned more discreetly. We agree the approach with you before starting.

Do you work outside Lahore?

Yes. Records-based work can be done remotely, and we travel for stock counts and site visits where needed.

How much does a third party audit cost?

Fees depend on the scope, the period covered and the number of locations. We quote a fixed fee once the scope is agreed.

Need an Independent View of the Numbers?

Tell us what you need answered and we will propose a scope and a fixed fee before any work starts. Engagements are led by Aneel Irshad Khan, Advocate High Court and Certified Fraud Examiner.