Auditing and financial reporting is critical to ensuring adequate financial governance. To this end, the role of an auditor is under increasing scrutiny. We understand that having confidence in financial information and ensuring statutory compliance is critical, as such we provide sound statutory audit of financial statements.
For us the audit engagement goes much further than ensuring legislative compliance it is also about anticipating and harnessing areas of opportunity or concern observed during the audit process. Our commitment to quality is unwavering, allowing us to provide the highest standards of services and director-led audit engagements. This empowers our clients to reduce risks as well as take advantage of the opportunities highlighted.
We strive to create long-term business partnerships with clients. Through gaining an understanding of their business operations and long-term ambitions we are able to tailor the auditing service to the size and nature of each individual business.
Over the years, our assurance team experts have dealt with clients of varying size and complexity from a range of business sectors, drawing on vast experience to provide sound competitive advice.
As a firm of professional and independent external auditors, we strive to express an independent opinion on financial statements providing clients with an appropriate level of assurance that their financial statements correctly reflect the results of their operations and their financial position.
Financial Statements Audit
The purpose of a financial statement audit is to add credibility to the reported financial position and performance of companies.
Our audit engagement teams include experts with years of experience reporting under both International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Practice (GAAP) and are uniquely placed to deliver high quality audits.
IFRS Technical Reviews
The globalisation of business and finance has created the need for a common set of accounting standards to be used by all countries as a way to increase the efficiency of cross-border transaction handling and accountability.
International Financial Reporting Standards (IFRS) form the basis of financial reporting. The adoption of IFRS requires businesses to take a proactive role to achieve compliance. We have a well-established technical division, with in-depth knowledge and experience and expertise of IFRS requirements across a wide range of industries. The technical division provides technical support on IFRS, Corporate Governance, Integrated Reporting, Companies Act and GRAP financial reporting to the audit team.
Integrated and Sustainability Reporting
Striking the balance between regulation and market-led integrated reporting is something that we believe has supported South Africa’s uptake of integrated reporting. In South Africa listed companies are required to submit an integrated report on a compliance or explanation basis.
Our team of experts work with management of listed companies on an advisory basis, providing the best advise on how to achieve a fair report that reflects the company`s strategy on integrated reporting.
Agreed Upon Procedures
Our experienced audit teams perform agreed-upon procedure engagements in accordance with the highest standards governing our profession. Performed under International Standards on Related Services, during an agreed-upon procedure engagement our qualified auditors offer insightful counsel and collaborate with clients to agree upon the set of procedures that will need to be followed based on the client’s needs.
This could relate to a financial statement component or another written assertion for example, a procurement audit that evaluates whether specified procurement procedures have been carried out in a satisfactory manner for a specified period.
These procedures cover an agreed upon aspect of the client’s business information, rather than their whole financial statements. Our auditors perform the procedures and report the results on a factual basis and do not express an opinion or negative assurance. Instead, the report is in the form of procedures and findings.
Agreed-upon procedures are a recommended business practice in circumstances such as:
- Evaluating mergers or acquisition;
- Litigation preparation;
- Determining internal controls in particular areas to evaluate whether they are operating as prescribed; and
- Compliance reviews against prescribed laws and regulations.