Indenpdate audit report

1- Independent
Auditor's Report





Sample Audit Opinion
for Business Entity


Independent
Auditors' Report





To the Board of
Directors and Shareholders


Company
____________________________


Address
_____________________________


____________________________________


We have audited the accompanying balance sheets of
____________Company as of December 31. 2010, and the related statements of
income, retained earnings, and cash flows for the years then ended. These
financial statements are the responsibility of the Company's management. Our responsibility
is to express an opinion on these financial statements based on our audits.


We conducted our audits in accordance with auditing
standards generally accepted in Sudan. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.


In our opinion, the
financial statements referred to above present fairly, in all material
respects, the financial position of____________________ Company as of December
31, 2010, and the results of its operations and its cash flows for the years then
ended in conformity with accounting principals generally accepted in Sudan.





(Signature)





___________________________________

(Date) ___________________________________

XXX


تقرير حول البيانات المالية





لقد دققنا البيانات المالية المرفقة لشركة XXX ش.م.ك (مقفلة) ("الشركة") والتي
تشمل الميزانية العمومية كما في 31 ديسمبر 2008 وبيانات الدخل والتغيرات في حقوق الملكية
والتدفقات النقدية للسنة المنتهية بذلك التاريخ وملخص السياسات المحاسبية المهمة والإيضاحات
التفصيلية الأخرى.


مسئولية الإدارة عن البيانات المالية


إن إدارة الشركة هي المسئولة عن إعداد هذه البيانات المالية وكذلك العرض
العادل لها وفقا للمعايير الدولية للتقارير المالية. تتضمن هذه المسئولية إجراء التصميم
والتطبيق وكذلك الحفاظ على الرقابة الداخلية المتعلقة بالإعداد والعرض العادل للبيانات
المالية التي تخلو من الأخطاء المادية الناتجة إما عن الاحتيال أو الخطأ وكذلك اختيار
وتطبيق السياسات المحاسبية المناسبة وإجراء التقديرات المحاسبية المعقولة وفقا للظروف.


مسئولية مراقب الحسابات


إن مسئوليتنا هي إبداء الرأي في هذه البيانات المالية بناء على تدقيقنا.
لقد قمنا بالتدقيق وفقا لمعايير التدقيق الدولية. وتتطلب تلك المعايير أن نمتثل للمتطلبات
الأخلاقية وإجراء التخطيط وأداء التدقيق للحصول على تأكيد معقول بأن البيانات المالية
خالية من الأخطاء المادية.


يتضمن التدقيق القيام بإجراءات للحصول على دليل تدقيق حول المبالغ والإفصاحات
في البيانات المالية. إن إجراءات التدقيق المختارة تعتمد على رأي مراقب الحسابات وتتضمن
تقييم وجود مخاطر الأخطاء المادية في البيانات المالية سواء كان ذلك ناتجاً عن الاحتيال
أو الخطأ. وعند إجراء ذلك التقييم للمخاطر يأخذ مراقبو الحسابات في الاعتبار الرقابة
الداخلية المتعلقة بالإعداد والعرض العادل من قبل الشركة للبيانات المالية وذلك لتصميم
إجراءات التدقيق الملائمة للظروف ولكن ليس بهدف إبداء رأي حول فعالية الرقابة الداخلية
للشركة. يتضمن التدقيق أيضا تقييم مدى ملائمة السياسات المحاسبية المستخدمة ومعقولية
التقديرات المحاسبية التي أجريت من قبل الإدارة وكذلك تقييم عرض البيانات المالية ككل.


باعتقادنا أن أدلة التدقيق التي حصلنا عليها كافية ومناسبة لتوفير أساس
معقول يمكننا من إبداء رأينا حول التدقيق.


الرأي


برأينا أن البيانات المالية تعبر بصورة عادلة، من جميع النواحي المادية،
عن المركز المالي للشركة كما في 31 ديسمبر 2008 وعن أدائها المالي وتدفقاتها النقدية
للسنة المنتهية بذلك التاريخ وفقا للمعايير الدولية للتقارير المالية.
آدم الرضي الشريف

ودالرضي للمراجعة والمحاسبة
مراجعون ومحاسبون معتمدون.

AUDIT ENGAGEMENT LETTER


To the Board
of Directors


Company name


Address


You have
requested that we audit the balance sheet of (name of company) as of (fiscal
year end), and the related statements of income, cash flows and changes in
stockholders’ equity for the year then ending.
We are pleased to confirm our acceptance and our understanding of this
engagement by means of this letter. Our
audit will be made with the objective of our expressing an opinion on the
financial statements.


We will
conduct our audit in accordance with Philippine Standards on Auditing. Those Standards require that we plan and
perform the audit and to obtain reasonable assurance that the financial
statements are free of material misstatements.
An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as
well as evaluating the overall financial statements presentation.


Because of
the test nature and other inherent limitations of an audit, together with the
inherent limitations of any accounting internal control system, there is an
unavoidable risk that even some material misstatements may remain undiscovered.


In addition
to our report on the financial statements, we expect to provide you with a
separate letter concerning any material weaknesses in accounting and internal
control systems which come to our knowledge.


We remind you
that the responsibility for the preparation of financial statements including
adequate disclosure is that of the management of the company. This includes the maintenance of adequate
accounting records and internal controls, the selection and application of
accounting policies, and the safeguarding of the assets of the company. As part of our audit process, we will request
from management written confirmation concerning representations made to us in
connection with the audit.


However, as
part of our responsibility as an accredited external auditor of the Securities
and Exchange Commission, we shall report to the Commission any of the following
cases which may have been discovered based on generally accepted auditing
standards, if the company fails to disclose the same to the Commission under
its current reports:


1. Any material findings involving fraud or
error which will reduce the consolidated total assets of the company by five
percent (5%).


2. Losses or potential losses the aggregate
of which amounts to at least ten percent (10%) of the consolidated total assets
of the company;


3. Any finding to the effect that the
consolidated assets of the company, on a going concern basis are no longer
adequate to cover the total claims of creditors.


We look
forward to full cooperation with your staff and we trust that they will make
available to us whatever records; documentation and other information are
requested in connection with our audit.
Our fees, which will be billed as work progresses, are based on the time
required by the individuals assigned to the engagement plus out-of-pocket
expenses. Individual hourly rates vary
according to the degree of responsibility involved and the experience and skill
required.


This letter
will be effective for ______ years unless it is terminated, amended or
superseded.


Please sign
and return the attached copy of this letter to indicate that it is in
accordance with your understanding of the arrangements for our audit of your financial
statements.


Name of company


Acknowledged
on behalf of the company by:


Name/Title


______________________


(Signature/Date)Name
of Auditor/Auditing Firm:


_____________________


(Signature/Date)