AUDIT IMPROVEMENT 

Modified audit opinion can seriously damage the organisation’s reputation; can also lead to investor/users and the government mistrusting the organisation’s financial reports and as a result lead to loss of funding and investors.

Our team comprises of managers who have successfully improved (turnaround) numerous audit opinions on Supply Chain Management, Movable Assets, Irregular Expenditures, Fruitless and Wasteful Expenditures, Contingent Liabilities and Accruals, and others.

The services we offer include, but not limited to the following.

1. Turnaround of Supply Chain Management Environment with specific focus on the following
   • Compliance – Performing gap analysis on the current Supply Chain Management Policy and Directives. Drafting Supply Chain Management Policy and Directives in line with the updated regulatory frameworks.
   • Efficiency – Drafting and designing Standard Operating Procedures, registers and compliance checklists in support of the Supply Chain Management Policy. Design bid (tender) and contract registers. Developing frameworks and identifying/implementing the repair immediately and short to long term mechanisms or controls. Provide audit support through designing the AGSA process that will ensure that there is compliance with AGSA’s timeframes as well as the quality of our responses.
   • Effectiveness– Transfer the skill and knowledge to staff through on job training and workshops training.
2. Aid in the identification and reporting of irregular, fruitless and wasteful expenditure.
3. Aid with the preparation of irregular, fruitless and wasteful expenditure notes to the Annual Financial Statement.
4. Assist in designing and drafting Irregular Expenditure as well as Fruitless and Wasteful Standard Operating Procedures and Compliance Checklist in line with the latest/updated Frameworks issued.
5. Implement methodology that will ensure that our client Annual Financial Statements provide reliable and fair presentation of financial information regarding assets through a complete, accurate and compliant asset register.
6. Provide assistance in effective management of assets through development of asset management policy and directives that will ensure compliance with the relevant laws and regulations. Provide guidance in terms of account treatment (recognition and measurement)
7. Review the findings raised during interim audits for any indication of material misstatements of Annual Financial Statements as well as possibility of audit qualification. Revisit the population and ensure that all weaknesses identified by the auditors are detected and addressed.