AUDIT & ASSURANCE

INVENTORY & DEBTORS AUDIT Stocks and Debtors are two very important areas requiring attention because they are the essence of every business activity and they provide the true indication of strength and vitality of a business. The primary objective of verification, from any point of view, is to ascertain whether they are realizable in cash […]

PAYROLL AUDIT A payroll audit, also known as a compliance audit, is an analysis of an organization’s payroll-related processes. It identifies compliance problems concerning employment laws, verifies tax withholdings, spots human errors, and prevents payroll fraud, to name a few. Thus, it is vital to frequently do a payroll audit. A key objective of auditing […]

INTEGRATED AUDIT An integrated audit involves both the audit by an outside auditor of a client’s financial statements and its system of controls over financial reporting. An integrated audit will likely include an extensive examination of the controls associated with a firm’s transaction processing systems. The objective of an integrated audit is for the auditor […]

FINANCIAL STATEMENT AUDIT A financial statement audit is the examination of an entity’s financial statements and accompanying disclosures by an independent auditor. The result of this examination is a report by the auditor, attesting to the fairness of presentation of the financial statements and related disclosures The objective of an audit of financial statements is […]

DEPARTMENT AUDIT The purpose of auditing internally is to provide insight into an organization’s culture, policies, procedures, and aids board and management oversight by verifying internal controls such as operating effectiveness, risk mitigation controls, and compliance with any relevant laws or regulations. The departmental auditors investigate the assessee’s own (private) records to verify whether the […]

REVENUE AUDIT A Revenue audit is where your tax returns are compared to your tax records. There are generally three reasons for which we can decide to audit you: Screening tax returns – this is where we look at your returns and compliance history for any patterns or trends. This is the most common method […]

VAT AUDIT VAT Audit is the process where the National Bureau for Revenue (NBR) will assess the general compliance level of a taxable person with the VAT legislation and verify if the net amount of VAT declared and the amount paid by the taxable person is accurate. The Audit File enables the NBR to audit […]

SOX AUDIT To comply with the Sarbanes-Oxley Act of 2002 (SOX), organizations are required to conduct a yearly audit of financial statements. A SOX Compliance audit is intended to verify the financial statements of the company, and the processes involved in creating them. An independent external SOX auditor is required to review controls, policies, and […]

INFORMATION TECHNOLOGY AUDIT An information technology audit, or information systems audit, is an examination of the management controls within an Information technology (IT) infrastructure and business applications. The evaluation of evidence obtained determines if the information systems are safeguarding assets, maintaining data integrity, and operating effectively to achieve the organization’s goals or objectives. These reviews […]

OPERATIONS AUDIT Operational audit is a systematic review of effectiveness, efficiency, and economy of operation. Operational audit is a future-oriented, systematic, and independent evaluation of organizational activities. In Operational audit financial data may be used, but the primary sources of evidence are the operational policies and achievements related to organizational objectives. Operational audit is a […]