AUDITING AND ASSURANCE

This is the examination of business books and records, so as to determine business performance of an organization. Audits are performed to ascertain the validity and reliability of information; also to provide an assessment of a system's internal controland can also be extended to provide assurance on some component business parts of an organization as well as on statutory compliances. The goal of an audit is to express an opinion of the person / organization / system (etc.) in question, under evaluation based on work done on a test basis.

Types of Auditing services provided

1.Periodic audits.

These can be quarterly, semi annual or annual audits depending on a client’s requirements. Annual audits for entities 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.

2.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.

 

3. Information system audits

An information security audit is an audit on the level of information security in an organization. Within the broad scope of auditing information security there are multiple types of audits, multiple objectives for different audits, etc. Most commonly the controlsbeing audited can be categorized to technical, physical and administrative. Auditing information security covers topics from auditing the physical security of data centers to auditing the logical security of databases and highlights key components to look for and different methods for auditing these areas. We also provide information systems audit solutions which range from the total outsourcing of the IS function to outsourcing its supervision or setting out an independent unit for the same.

4.Forensic Audits (Investigations) and Litigation Support.

This is an examination of fraud or loss suspect areas in organizations which leads to determining the amount of monies lost and those responsible. The forensic 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.

Contact us

Abdulhamid & Company

Ramco court, Mombasa Road.

P.O BOX 23005-00100

Nairobi-Kenya.

Tel: (+254 02) 2628830

mobile:0722-737250

              0770-137133

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