Audit and Assurance

This covers institutional audits and donor funded projects audits and is aimed at providing users of the financial statements comfort that financial records are maintained, and financial statements prepared in accordance with the required accounting policies. This is achieved via issuance of an audit opinion on the financial statements.

Expenditure Verification and Grant Compliance review: involves examination of supporting documentation to confirm whether expenditure reported complied with eligibility criteria and review of compliance with donor agreement terms and conditions and other regulatory requirements.

Internal control and assessments; involves assessment of entity’s internal controls to confirm compliance with own policies and procedures and best practice.

Organization risk or capacity assessment: understanding, evaluation and validation of an organisation’s systems and processes to determine whether its systems, operations and internal controls can be relied on to manage donor funds.

Procurement audit: review of organisation’s procurement processes to check they comply with organisation’s applicable policies and procedures.

Forensic audit: involves an examination, review and analysis of the financial records of an institution or person to extract facts, which can be used in a court of law.

Regulatory compliance: involves reviews of organizations compliance with laws, regulations, and guidelines set by governments and other regulatory bodies. Its important for business to comply with laws and regulations to maintain their operations and protect consumers.

Internal auditing: involves independent review of an organizations systems, processes and procedures with the objectives of providing assurance that the organization’s risk management, governance and control processes are working effectively.