2. BASICS International
BASICS International is a global professional
services firm specializing in assurance support
services, and data mining and analytics.
We are headquartered in Manila, Philippines
and our audit and project teams include experts
in assurance services, internal audit and data
analytics and mining.
Our people are university trained
accountants and are CPAs, CIAs, CFEs,
certified data analysts, IFRS-accredited and
with a background in Big 4 audit practices or
top consultancy firms.
BASICS’ distinctive approach to audit
outsourcing assures cost efficiencies and
seamless operations to your business.
Without physically visiting your site, our
highly trained and qualified audit
professionals can provide ‘remote’ offshore
audit services and data analytics.
3. BASICS International
Data Analytics
The Philippines has been recognized as the global leader in terms of voice IT-BPM services. In terms of non-voice services which include
data analytics, the Philippines is the second most preferred location in the world next to India.
In 2012, the Philippines’ Information Technology and Business Process Management (IT-BPM) industry generated $13.4 billion in revenues,
and 720,000 employees. For 2013, the industry aims to achieve $16 billion in revenues and generate direct employment of 926,000
workers.
The Department of Trade and Industry (DTI) has set target revenues of US$ 25 billion in 2016, growing at an average of 17 percent
annually.
An interesting dimension to this process is that a strict data privacy law was passed by the Philippines government in 2012. The Data
Privacy Act of 2012 stipulates that all information should be collected in a legitimate manner for specific purposes and it should be
processed in a manner that is compatible with the aims declared at the initial stage. This will make enterprises accountable for the data
they collect. The data analytics market Philippines benefits from this law since companies can entrust data or information to outsourcing
agencies under the protection of a legal clause.
At present, the private sector and the government are working together to prepare Filipino graduates for data analytics citing the
introduction of school curricula by the Commission on Higher Education (CHED) and IBM.
Audit Support Services
The country has more CPAs than any other in Asia, with approximately 7,000 accounting graduates every year. There is an abundance of
finance and accounting talent in the Philippines trained in international accounting standards and have been employed by Big 4 audit
firms.
The outsourced audit services industry is rapidly growing and we are seeing an increasing number of large audit and consulting practices
who are setting up a shared service centre in the Philippines to handle their audit services. Ernst & Young and PWC amongst others have
set-up their own shared services centres in Metro Manila to provide external audit support services to its member firms around the globe.
Outsourced Audit and Data Services Industry
4. BASICS International | Services
EXTERNAL AUDIT
SUPPORT
•Financial statements tie-out
•Preparation of draft financial statements
•Account balances confirmation – bank,
receivables and payables confirmation
•Test of details
•Quality assurance
•We handle all external audit support
services in our Manila office. Our External
Audit Support Services team is comprised
of CPAs, IFRS-accredited auditors and with
Big 4 external audit practice background.
FULL INTERNAL AUDIT
OUTSOURCING
• Our internal audit specialists can
accomplish full assignments for you.
Our risk-based approach ensures that
we carefully plan our audits, complete
fieldwork assignments on-site and
discuss and report our findings with
you. We have established a robust
quality assurance review process to
ensure that deliverables are of top
quality and will definitely meet and
exceed your expectations.
SECONDMENT OF
STAFF OR CO-
SOURCING
•We can provide you with internal audit
specialists to complement your existing
internal audit team. Seconded staff or
managers are qualified to meet your
needs.
ASSURANCE SUPPORT SERVICES
5. BASICS International | Services
AUDIT COMMITTEE
ADVISORY
•Our professionals help Audit Committees
with establishing and maintaining an
efficient and effective Internal Audit
Department. We advice on a range of
topics including:
•Corporate governance
•Risk management
•Internal audit department structure
•Sourcing needs
•Internal audit planning and priorities
SARBANES OXLEY
•We have worked with many clients to
implement Sarbanes-Oxley (SOX)
readiness activities and have helped
many global companies to reduce their
compliance program costs. Those
companies not subject to SOX
compliance requirements can still
benefit from our internal controls
assessment programs.
CONTROL SELF
ASSESSMENT (CSA)
FACILITATION
•We assist in designing and
implementing a control self-assessment
program for your company. We will
monitor results of the CSA program and
provide you comprehensive periodic
reports to track implementation of
recommendations.
ASSURANCE SUPPORT SERVICES
6. BASICS International | Services
Our analysts use ACL to perform a wide range of data mining and analytics including
data analysis, continuous auditing, continuous monitoring, sampling of large data sets,
forensic analysis and finding irregularities or patterns in transactions that could indicate
control weakness or fraud.
DATA MINING & ANALYTICS
7. BASICS International | Tools
ACL Analytics
The value of management’s decision making process relies heavily
on the timely retrieval of relevant information. This information may
be buried within enormous amount of data files, across numerous
databases and stored in diverse platforms. Management and
analysts need IT-enabled tools to access, process and interpret data
and make logical and informed judgments.
Through ACL Data Analytics, one can essentially retrieve practically any data source, perform
queries and data manipulation on files. ACL is a data extraction and analysis software used for
fraud detection, prevention and risk management. By sampling large data sets, ACL Analytics is
used to find irregularities or patterns in transactions that could indicate control weaknesses or
fraud.
ACL can analyze virtually unlimited file size and possible to analyze millions of records with
speed. It ensures data integrity as ACL only has read-only access to the data source thus not
being able to alter it.
8. BASICS International | Solutions
We provide cutting-edge end to end solutions to professional services firms, CAEs
and CFOs.
Professional
services firms
•With the combined
external audit experiences
from Big 4 audit practices
and up-to-date technical
skills of our qualified CPAs
and IFRS-accredited
auditors, we ensure we can
deliver to your
expectations – quality
service at competitive
rates. From preparation of
standard letters and forms,
to test of details and
financial statement
drafting and tie-outs, we
can definitely assist you to
ensure external audits are
carried out seamlessly.
Internal Audit
Departments
•At BASICS, we assist Chief
Audit Executives in
realizing their annual audit
plans. Our competent
CIAs and CFEs can help
you carry out audit
engagements from
anywhere around the
world.
•We can provide you a full
outsourced internal audit
function or complement
your existing internal audit
departments.
CFOs (Chief
Finance Officers)
•Our data mining and
analytics service line can
help you determine
irregularities or patterns in
transactions, produce
exception reporting, create
customized management
reporting and performing
extensive control self
assessments
9. BASICS International | Our Approach
Plan Act Report Review
We emphasize on the use of our Plan-Act-Report-Review approach in performing assurance support services and data
mining and analytics.
PLAN
We make certain that client requirements are clearly
understood and either a project plan or a risk control
matrix has been designed.
ACT
We carry out the project plan or the procedures set out in
the risk control matrix. We document our findings and
capture related supporting evidence. Our quality
assurance team ensures that execution of audit
procedures or data analysis are as per quality standards.
REPORT
We create a draft report noting relevant observations and findings. Our qualified audit managers ensure issues and
recommendations are agreed upon with the client before a final report is issued.
REVIEW
A follow-up review is subsequently performed to ensure that agreed action plans are implemented by the client.
10. BASICS International | Why BASICS?
• Total focus on assurance support services & big data
utilisation at competitive rates.
• Vast international experience in internal auditing.
• Innovative remote audit solutions guaranteeing cost efficiencies and real-time
reporting to your business.
Competitive Advantage
• Our people are university trained accountants and are CPAs, CIAs, CFEs, certified
data analysts, IFRS-accredited and with a background in Big 4 audit practices or
top consultancy firms.
11. BASICS International | Contact Us
BASICS International
11th Floor Tower 1,
The Enterprise Center
6766 Ayala cor. Paseo de Roxas
Makati City, Philippines 1226
+63 2 8461144
info@basicspecialists.com
For Marketing concerns:
Email: marketing@basicspecialists.com
