Quality drives excellence
Providing the highest quality services to our clients helps them achieve business excellence. Quality is a total commitment to making sound judgments and adding deeper and more genuine value for stakeholders. Through ensuring that all the right steps are applied consistently during the execution of our assignments, we foster clients’ trust in the quality services we provide, becoming their first choice of professional services providers and advisory partners. At Hajar & Co., quality is recognized as a never-ending pursuit to perform better and to deliver more efficient and effective engagements; we seek to continually raise the standards of quality in our services and timeliness of deliverables. There has been a rapid demand for action around the profession, prompting auditors, regulators, and company management to take a deeper look at their roles in building a trusted financial system and transforming to meet the requirements and challenges of an evolving world. At Hajar & Co., we take great pride in our role and strive to set the standard of leading client excellence and approach each assignment with a commitment to providing an uncompromisingly high level of professional and technical quality. Delivering high quality services to our clients is our top priority; accordingly, we continue to make significant investments in our people, tools and methods. Quality is vital to establishing confidence and trust in our work, and consistently delivering efficient and insightful services to our clients.
Quality Control & Quality Assurance
We recognize that the quality service and advice we deliver enables clients to make sound decisions and protects their businesses and reputations. The cornerstone of quality at Hajar & Co. is the caliber of our people and the consultative environment in which we work. We identify three distinct phases in our quality assurance and control program: Planning, Assurance and Control. The Quality Control Plan illustrated above is designed to manage the quality of work throughout the duration of our engagement. Hajar & Co. partners and professionals base the Quality Control Plan on a Quality Control framework established and refined through years of implementation, and is successfully used at large and private sector engagements. This includes developing specifications to the needs of our clients with the ultimate goal of producing uniform, clear, concise, deliverables and work products of the highest possible quality throughout our length of service.
Our partners drive the planning and performance of our services based on their experience and detailed knowledge of the client’s business. We require significant input from the lead-client service partner and other engagement management.
Our services processes are rooted in a close and sound understanding of each client, the business, its risks and environment. After a thorough assessment of business essentials, we identify risks associated with client business, the engagement, significant business areas and potential errors. We help clients identify their business risks and the extent to which they have controls in place mitigating these risks. We respond by designing appropriate engagement procedures that focus on these risks to extinguish or mitigate. We determine the need for specialized skills, including IT specialists and technical support, throughout planning, performing, evaluating and concluding stages of our assignments.
Managing Future Conflicts of Interest
Our policy requires us to seek to identify any entity whose interests may be adversely affected when either (i) accepting a prospective engagement or (ii) entering into certain business or financial relationships with another entity. This is achieved by considering three categories of potential conflict:
- Conflicts related to independence;
- Professional and legal / regulatory conflicts; and
- Business or commercial conflicts.
In the independence section below, we have outlined further information on managing conflicts specifically related to independence. In the wider context, we have a process for checking with all partners within our firm for conflicts when accepting clients, new engagements or entering business or market place relationships.
We have policies which are defined based on the requirements of Section 8 of the International Federation of Accountants (IFAC) Code of Ethics for Professional Accountants (the “Code”) supplemented by other relevant local and global requirements. We have also implemented policies to ensure compliance with any additional local independence rules that are derived from the profession Ethical Code and relevant laws. These policies address all aspects of independence including consulting and the scope of services, which can be delivered to clients. The policies address “audit”, “assurance”, “advisory” and “other” client relationships. Our procedures require the Partners to be aware of all engagements and relationships between the client and Hajar & Co., to avoid any independence impairing situations with respect to our services. This relates to the provision of all non-audit services. We established a policy in place that requires obtaining a signed confirmation from each partner and member of staff annually in respect of their compliance with independence rules and regulations and perform an independence inspection process annually, testing a sample of individuals’ compliance with the policy. Therefore, while the application of our independence processes will ensure compliance with the required independence rules in a rigorous and robust manner, we will also apply a forward-looking lens to our discussions with clients’ management and assess any conflicts from providing any of our proposed services.
Confidentiality of Information
We have a multi-tiered approach to safeguarding the integrity of clients’ data and to prevent unauthorized access to the information it maintains. Hajar & Co. has significant policies and procedures designed to protect our people, our property, our data and our clients’ data. Information security measures such as authentication, monitoring and encryption are in place and are intended to prevent corruption of data and to prohibit unknown or unauthorized access.
Communication and Reporting
Frequent and thoughtful communication is the essence of building a strong working relationship. We place a real emphasis on less formal approaches as well. Our formal procedures for communication with Senior Management involve well-planned meetings to discuss issues arising out of our services and any other areas where we can add value our clients and their businesses. In serving clients, we remain current on all significant internal developments, to ensure that, as potential problems or challenges arise, these are identified, discussed and resolved timely. Hajar & Co. will meet with client senior management to review our findings and reports. During these meetings, Hajar & Co. will be prepared to answer questions concerning the services provided and associated deliverables, or any other matters that client might seek to address. Hajar & Co. will be available for advice, consultations as client requires, and on an ongoing basis, Hajar & Co. will brief the management on the latest accounting and related developments and new positions being addressed internationally in the industry.
Dynamic and Evolving
We tailor our service plan to respond to changing circumstances and keep it updated as changes evolve.
We interact with client’s management on an ongoing basis and respond appropriately and timely to their needs and expectations.
We greatly value our clients as highly prestigious organizations. We also understand and respect their desires to pay no more or less than needed for the services to be provided and we will strive to exceed your expectations in this regard.
We are leaders in efficient application of automation tools that are utilized throughout our services, through using tools such as Microsoft Power BI, ACL and our unique automation of audit and paperless audit software.