AUDIT
Chartafai provides professional services to clients in various industries with keen interest in ascertaining accuracy of the financial statement reporting. Our team ensures that they are independent, and checks on the materiality of the transactions even as they assess errors and frauds with their implications to the organization and advice accordingly.
The whole audit process is well planned from the engagement letter to the drafting of the management letter highlighting, minimizing and managing the risks in a timely manner as the clients enjoy cost effective pricing.
The audits we carry out include the following;
Statutory audit
Internal audit services
Forensic audits
Project audits
Information audits
Statutory Audits
According to the Company’s Act of Kenya all companies are mandated to carry out annual statutory audits to the financial statements to be presented to the shareholders general meeting, and for presentation in the profits tax assessment as required by the Kenya Revenue Authority.
They are meant to give a true and fair view of the financial position of the company in regards to financial performance. We give you confidence and trust at every step of your business execution after carrying out extensive review of your books of accounts.
Internal Audits
Our internal audit professionals conduct strategic reviews as to how you can we add value while minimizing costs and increasing efficiency. The bottom line of an internal audit is no longer the focus on the processes and around financial reporting but steered to strategic engagement.
This is through identifying the business wide risks, capitalizing on synergies, monitoring and providing timely warnings of potential risks the organization is likely to be subjected to.
We are here for you, look no further.
Forensic audits
Forensic audits are becoming more popular in the world of practice today due to other social and economic factors surrounding the practices.
During the process of examining the books, we will ensure that the evidence is not damaged or altered by anyone. Some of the techniques employed by us include;
Substantive techniques
Computer assisted audit techniques
Analytical procedure
Project Audits
We work closely with the project management office to verify compliance and validate performance of the execution. The team tasked with the audit of your project will ensure to evaluate quality, necessity, value, and examine root cause and reasons of failure in various projects conducted by the firm.
Review and Compilation
Reviews involve performing inquiries and employing analytical and other procedures to collect the evidence needed to provide limited assurance that an organization’s financial statements are free of material misstatements.
Compilations encompass helping the management present financial information in the standard required format.
Sustainability
Organizations are increasingly demanding for procedures focusing on specific areas of interest rather than conducting an entire audit or review of the whole organization’s financial statements. The scope of such engagements is flexible and company specific.
Our team develops and provides a summary of procedures and findings particular to the areas identified by the end user.