Auditing & Assurance

Is examination of business books and records, so as to determine business performance of an organization. Auditing is also extended to provide assurance on some component business parts of an organization as well as on statutory compliances.
Types of Auditing services provided

i.Periodic audits
These can be quarterly, semi annual or annual audits depending on a client’s requirements. Annual audits for organizations are a statutory requirement for the sake of taxation, annual returns as well as accountability to members, financiers, creditors and the general public. It is not mandatory for sole proprietorships, however, it is a statutory requirement to make tax returns, and therefore audited accounts reduce the associated tax risks, and provide information on performance which is essential for business planning and control.

ii.Internal Audits
Internal audit is an internal oversight function to an organization, which provides an independent appraisal of activities, assurance to the shareholders, board and management by reporting on the effectiveness of the internal controls; reliability of the management information systems; management and control of the organisation's assets; and compliance with applicable legislation and regulations.

It is an important management and control tools for organizations which need to keep regular monitoring of their business performances for control purposes. We provide internal audit solutions which range from the total outsourcing of the internal audit function to outsourcing its supervision or setting out an independent internal audit function.

iii.Forensic Audits (Investigations) and Litigation Support
This is an examination of fraud or loss suspect areas in organizations which lead to determining amounts lost and those responsible. Investigations findings provide evidence for apportioning blame or litigation in courts of law. We can assist in quantifying financial losses and claims arising out of business transactions and frauds, and acting as expert witnesses for clients in financial matters.

Some benefits of audits
  • Determines economic performance of an organization.
  • Helps in decision making
  • Makes limited companies to comply with statutory requirements
  • Helps in tax planning and management
  • Helps in business planning, management and control.
  • Detects errors and frauds
  • Guides investors in making investing decisions
  • Helps in raising of business finance.
  • Determines economic value of organizations.