What precisely, is examined in a compliance audit will vary depending upon whether an organization is a public or private company, what kind of data it handles and if it transmits or stores sensitive financial data.
Developing/ Reviewing of financial policies and procedures manuals
Policies are important in an organization so that people working in an organization can have a framework for actions that help them get on with the job they need to do.
We develop Financial Policy and Procedure Manuals that:
Describe the overriding policies and detailed operating procedures for the finance department of organizations so that people in the department do not have to keep on discussing the same issues when they arise;
Ensure that financial information, including, management accounts and other management reports, budgets, and published results are accurate, reliable and produced in a timely manner to enable effective decision making;
Ensure compliance with Generally Accepted Accounting Practice (GAAP), and other relevant international best-practice; and
Ensure the reduction of organization risk through mandating compliance.
Ensure compliance with relevant external laws, rules and regulations.
Due Diligence Reviews
MGN Njunge & Co. also undertakes due diligence /investigations which entails:
An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to a sale.
Generally, due diligence refers to the care a reasonable person should take before entering into an agreement or a transaction with another party.
Thus this review includes reviewing all financial records plus anything else deemed material to the sale. Sellers could also perform a due diligence analysis on the buyer. Items that may be considered are the buyer's ability to purchase, as well as other items that would affect the purchased entity or the seller after the sale has been completed.
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