Audit & Assurance Services
We understand that high-quality audits are of immense benefit to businesses. When conducting audits, we are always on the lookout for opportunities that a business can exploit for improved performance. We offer insights that make a real difference to organizations’ operations, risk management, and internal controls.
Our transparency and competence position us among the most trusted audit firms in Kenya. We ensure that you not only get a true picture of your business but also take home suggestions and areas for improvement.
You need to know your financial position? Get your financials audited! Contact Nicholas CPA
While undertaking our audits, we consider the following:
- Independence: We are independent from the entity being audited to ensure objectivity.
- Professional standards: We adhere to professional standards and guidelines, such as those issued by the International Auditing and Assurance Standards Board (IAASB).
- Risk assessment: We identify and assess potential risks to the financial statements or operations.
- Communication: We communicate with management and stakeholders is essential throughout the audit process.
Audit Services
We are the best in what we do. With our immense audit experience, we will deliver financial, operational and compliance audits for your organization, professionally and in a cost effective way.
Financial
Audit
We assess the accuracy and fairness of your financial statements.
Operational
Audit
We evaluate the efficiency and effectiveness of your operations.
Compliance
Audit
We determine if you are complying with laws, regulations, and contracts.
Our Audit Approach
At Nicholas CPA, we take a very unique approach to auditing. Our processes have been proven to work over years and our clients can attest to it. This unique approach is what has made us be who we are today.
Planning
Understanding the entity: We gather information about your operations, financial systems, and relevant regulations.
Defining audit objectives: We determine the specific goals of the audit, such as assessing financial statements, evaluating internal controls, or verifying compliance with laws.
Developing an audit plan: We outline the scope, procedures, and resources required to achieve the audit objectives.
Fieldwork
Gathering evidence: We collect relevant documentation, interview key personnel, and perform tests to support the audit objectives.
Assessing internal controls: We evaluate the effectiveness of your internal controls to prevent errors and fraud.
Testing transactions: We examine a sample of transactions to determine if they are recorded and reported accurately.
Reporting
Drafting the audit report: We prepare a written document summarizing the audit findings, conclusions, and recommendations.
Issuing the report: We distribute the report to management, stakeholders, or regulatory bodies, as appropriate.
Follow-up
Monitoring management’s response: We review the management actions to address the audit findings and recommendations.
Conducting subsequent audits: We assess the effectiveness of corrective actions and identify areas for improvement.
Do you need to know your business financial position?
Are you ready for auditing services this year?