Special Purpose Audit

Service Description

A Special Purpose Audit is a highly focused assurance engagement designed to address a specific requirement of regulators, lenders, investors, or contractual obligations. Unlike a statutory or tax audit, which covers the entire financial reporting framework, a special purpose audit concentrates on a defined area such as utilisation of funds, compliance with loan covenants, certification of specific financial information, or verification of particular transactions. At PRS&A, we approach these assignments with precision, clarity, and a deep understanding of the underlying purpose behind the engagement. Our process begins with defining the exact scope and criteria of the audit, ensuring alignment with the expectations of the requesting authority. We then design customised audit procedures that target the relevant financial data, internal controls, and documentation. This may include verifying project expenditures, validating claims submitted to government bodies, reviewing financial ratios for lenders, examining grant utilisation, or certifying turnover or net worth for specific applications. Every procedure is evidence‑based, thoroughly documented, and performed with professional skepticism. Because these audits often involve sensitive or high‑impact information, we maintain strict independence, confidentiality, and adherence to ICAI’s Standards on Assurance Engagements. Our reports are clear, concise, and tailored to the specific format required by the authority, ensuring that the information presented is reliable, defensible, and compliant. Special purpose audits at PRS&A are designed to provide stakeholders with confidence in the accuracy and integrity of the information they rely on, while helping organisations demonstrate transparency and accountability in critical areas of their operations.