3. Auditing - Statutory Audit

We carry out statutory audits as required under International Auditing Standards. During our audits we evaluate the internal control systems of a client so as to determine their effectiveness and reliability in the preparation of the final accounts. We carry out detailed sample vouching to determine if transactions are valid, accurate and complete. We carry out tests to ensure that all the transactions are correctly recorded in the books of accounts and posted to the ledger. We review the payroll to ensure its accuracy and compliance with staff contracts and all relevant statutory requirements. We review in detail the trial balance, and draft financial statements and check on compliance to binding contractual regulatory bodies requirements. Finally, we provide a management letter spelling out the weaknesses identified during our audit, their possible implication and give appropriate recommendation.