we believe very much in developing strong working relationships with our clients at all levels of their management hierarchy while maintaining our professional independent status as statutory auditors. We will therefore ensure that such relationships exist to facilitate the smooth and timely performance of our audit responsibilities. Through closely working together with directors, management and staff, we will make sure that our audit is suitably tailored to meet your needs. Working together is also an effective means of maintaining and building on our understanding of your business. We will have regular meetings with management with a request from management to discuss issues as they arise so that we can be in a position to give our own input to management plans and proposals.
We shall hold meetings with management to familiarize ourselves with the activities of your company. This will give us the opportunity to understand your business and apply this understanding in developing our detailed audit plan. At the planning stage, we shall hold a pre-audit meeting and agree a detailed time-table with management and also identify critical and important areas on which we will need to focus attention during the audit. This planning procedure will ensure the smooth performance of our audit.
Our audit team will always be partner-led and be carefully selected. The team will be made up of technically sound, polite, independent-minded and conscientious staff. The regular presence of a partner on any assignment will ensure that all issues arising during an audit can be expeditiously resolved through discussions with senior management staff. We shall periodically review the progress of the audit with senior management and appraise management with any accounting, taxation or business issues which may arise in the course of our audit.
We will issue an audit opinion on your financial statements at the conclusion of our audit. This will be based on the quality of evidence we are able to obtain from tests of internal controls and other substantive tests and the evaluation of the strength of your internal audit function, if there is one in place. In addition, we will also issue a management report on the financial statements to the Board of Directors of the company. Issues to be addressed in the management report would be discussed with management and their comments incorporated before the report is finalized.