Our methodology is divided into four main stages

• Offer, Acceptance & Establishment of engagement objectives

  The overall purpose of this stage is to decide whether to accept the engagement. Listing of risk factors begins at this point. We; prepare tender documents/proposal, present to the potential client, accept the offer and establish an understanding of the terms of engagement (Establish Audit Objectives and Scope) and sign the engagement letter.

  We sign an engagement letter for the audit of the client.

• Planning

  We begin the audit by meeting with our client to reconfirm the terms of the engagement and co - develop the expectations for the audit. These expectations often go beyond just timely delivery of audit deliverables. We discuss with you up front exactly what's going to happen when and why, what we will need from you, and how we can achieve minimal disruption to your business throughout. Co-developing expectation is followed with detailed audit planning.

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• Gather Audit Evidence

  We gather audit evidence by performing audit procedures as per the developed audit programme using the various techniques of collecting audit evidence which include the following:

  • Analytical procedures
  • Enquiry & confirmation
  • Inspection
  • Observation
  • Re-performance / Re-computation
• Completion & reporting We consider the following:
  • Do the financial statements comply with the relevant reporting framework or are financial statements ok?
  • Does the audit evidence gathered in the course of the audit support the audit opinion?
  • Have the necessary completion procedures been carried out?

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  • Subsequent events review
  • Going concern review
  • Hold closing meeting with project management
  • Management representations obtained
  • Final analytical review
  • Consideration of the firm’s continued independence
  • Second partner review
  • Request for management correction of noted errors
  • Agree draft financial statement/fund accountability statement to audit file
  • Review project management report
  • Review other information to be issued with the financial statement
  • Provide hierarchical view of all audit work performed
  • Perform second partner review (hot review)
  • Consider audit opinion
  • Issue audit report
  • Prepare a report including management letter to those charged with governance
  • Prepare any other report

  Summary review memorandum will be prepared to summarise the key issues and the finding from the audit. We shall also finally assess our performance.