Audit Services

Audit services

We offer audit services which include:

Statutory Audits:

Our compliance department offers statutory audits which relate to reviewing company financial statements and forming an independent opinion as to the state of affairs of the organization. Our audits are carried out in accordance with International Auditing Guidelines and the presentation of the accounts will be guided by International Financial Reporting Standards. Our audits are aimed at providing Value Added Services to our clients – i.e providing our clients with more than just a statutory audit.We ensure that we are close to our clients and that we do not only appear at the year end to perform the statutory audit.To this end we ensure that we do not charge clients for adhoc queries which they may have during the year as we believe that our support with their queries is a value addition.We mutually agree on any engagement that may stem from such queries i.e additional work to be done and the fees to be charged for the work .

Internal Audits

We are retained by clients to review their organizations internal control systems and controls in order to assess their adequacy in safeguarding the company’s assets .We also review the clients’ operational risk and advise client on ways to mitigate the risk exposure. Often the internal control procedures we propose are documented in a manual.

Compliance Audits. What is a compliance audit?

A compliance audit is a comprehensive review of an organization's adherence to regulatory guidelines. Independent accounting, security or IT consultants evaluate the strength and thoroughness of compliance preparations. We as MGN Njunge & Co, Auditors review security polices, user access controls and risk management procedures over the course of a compliance audit.


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.


"MtLongonot1" by Valerius Tygart - Own work. Licensed under CC BY-SA 3.0 via Wikimedia Commons.

 

 

 

 

 

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