Audit Assurance and Expenditure Verification Services

We provide audit and assurance services using an approach and methodology that is consistent with generally accepted auditing standards world-wide and we focus on understanding our clients operations, identification of risks and developing an audit approach that specifically addresses these risks. We specifically plan to provide our clients with value added services as part of the audit. We work together with our clients to develop an audit plan to ensure that we cover all the areas that require specific attention.

  • 1. Statutory audits
    We provide statutory audit services to companies, public sector bodies and local authorities cooperative societies, non-profit making organizations, pension schemes, Partnerships and sole proprietorships, schools and learning institutions. We customize our approach to focus on the key activities and risk profiles of individual schemes.

    What will our Audit and Assurance services give you?

    Assurance on the financial performance, reporting and

    1. operations of your business or organization.
    2. Value-added recommendations on financial processes, key controls and performance indicators.
    3. Increased awareness of accounting and regulatory changes.
  • 2. Project Audits/ Special Audits

    This involves independent verification whether donor funds are applied for the intended purposes and that the use of such funds is efficient and transparent and in accordance with the laid down principles, procedures and requirements of the donor.

    This is done by:

      1. Examining the individual program’s financial statements prepared.
      2. A review of accounting procedures and the system of internal accounting controls.
      3. Performing tests of compliance with the requirements of the applicable laws and regulations.
    We as NKA believe that the success of any audit we undertake is dependent upon:
      1. Understanding the clients business, underlying risks and legislation and regulations governing the organizations.
      2. Understanding the clients organizational, procedural and information system control as well as their operating structure.
      3. Ensuring that superior expertise and resources are available to satisfactorily carry out the audit.
      4. Adhering to the firm’s quality control standards.

    All audits are carried out as per the firm’s Audit Procedures Manual which is based on International Standards on Auditing. Our reports are in accordance with the auditing standard ISA 800 “The Auditors Report on Special Purpose Engagements.’’ Our audit approach is risk based, and focuses on obtaining an understanding of the scope of the assignment and developing an audit strategy to achieve the set objectives.

  • 3. VAT Audits

    VAT is a complicated business. It’s often difficult to understand why it applies in one situation and not another. Due to the complexity of VAT it can be immensely difficult for anyone other than a specialist to have clear grasp of the detail. Our specialist Vat team has both a detailed knowledge and understanding of Vat rules and broad experience of application. We provide practical and easily understandable advice and assistance to our clients. We are regularly engaged as specialist consultants by other firms of professional advisers. We aim to ensure that our clients comply fully with VAT law and rules and help them to organize their activities in a Vat effective and efficient manner. Our services include: VAT consultancy, VAT health checks and planning & KRA visit preparation and assessment reviews.

    4. Fixed Asset Audit

    This involves verification of the asset status which includes ownership, existence, classification and valuation. We provide a team of expert who have vast experience in audit of fixed assets and would thus give value added and accurate recommendations on management of the assets.

    5. Tax Investigations

    If you have ever been subject to a tax investigation from Kenya Revenue Authority you will be acutely aware how time consuming and stressful it can be. In addition to these very real problems, the potential underlying threat to your reputation and the penalties which can be imposed can be debilitating. If you have been approached by KRA then you will need an adviser who has an expert understanding of tax legislation, compliance and of KRA procedures and processes in order to deal with the enquiry.

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