Audit and Assurance Services
Role of Audit – The evolving nature of business requires all entities to be built on solid foundations with effective structure. In this respect external audit is becoming a dynamic management tool as an oversight function in managing risks and value.
Our audit methodology – This is primarily “Risk Based” and focuses on obtaining an understanding of the scope of the assignment, and developing an audit strategy based on the assessment of risk, to achieve the set objectives. We appreciate that each audit assignment we undertake has different aspects to consider e.g. the nature and size of the business, the style of management, the economic environment in which it operates and the legal reporting requirements, all of which require an exercise of judgment in formulating our audit approach, rather than following a rigid set of procedures.
The firm uses Mercia audit checklist and working papers and Visual Transact in carrying out assurance assignments which assist in the production of financial statements that are compliant with International Financial Reporting Standards localized for client needs in Kenya.
The firm in keeping up with continuous and dynamic changes in both the local and global environment has regular in house training sessions for its personnel. This enables us to keep abreast of latest developments in the profession as well as a continued excellence in service delivery. In addition we also staff to attend external workshops and seminars for further enhancement of knowledge and up to date developments.
Our audit Team comprises of senior and experienced staff mixed with new graduates. This mix creates a balanced audit team composition resulting in the maintenance of quality service which is cost effective.
We believe that the success of any audit we carry out is dependent upon;