Audit Engagement

With new and increasingly complex risks existing in today’s business world, an independent audit and credible financial information are fundamental to establishing the confidence of stakeholders and access to capital. Audit brings a deep knowledge of financial reporting standards and regulatory requirements; and an understanding of complex business systems, process and controls.

Audit provides an independent examination of data, statements, records, operations and performances of an enterprise for a stated purpose. This service provides high level of assurance through examination, collection of evidence and evaluation of the financial information that leads to formulating a judgment which is communicated through auditor’s report.

The purpose is to give an opinion on the adequacy of controls (financial and otherwise) within an environment that are being audited, to evaluate and improve the effectiveness of risk management, control, and governance processes.

Review Engagement

Where an audit is not required or the shareholders have waived the appointment of an auditor, financial statements may be prepared on a review basis. Reviews provide limited assurance that the financial information confirms to generally accepted accounting principles

In performing a review the accountants must be independent from the clients and have sufficient knowledge of the industry, which the business operates. They would acquire sufficient knowledge of the client’s business to make intelligent enquiry and assessment of the information obtained, with the limited objective of determining the plausibility of the information reported on. The review should entail enquiries, analytical procedures and discussion with responsible client officials.