Auditing

Overview

Initially, we meet with management to obtain an understanding of the business environment affecting the industry, key business developments, risks, significant operational changes, changes in key personnel, systems and processes, changes in financial reporting and managerial systems and other pertinent matters. These discussions are followed by preliminary audit procedures designed to confirm that our understanding is correct. Customised audit procedures are then developed and the results of these procedures are reviewed by senior management and the lead engagement partner.

Our foremost responsibility is to provide shareholders and other stakeholders with the necessary audit assurance on the financial statements as well as internal controls. We use the Probe audit methodology which is integrated with Caseware Audit Software and Working Papers as a platform.

Major benefits of using Probe:

• Up-to-date with the latest auditing standards.
• Improved understanding of the client’s business through focused planning.
• Electronic documentation of audit evidence obtained during audits performed.
• Risk-based audit approach by identification of specific risk areas through focused planning.
• Automation of processes through seamless integration of Caseware working papers and the annual financial statements.
• PROBE audit methodology is designed to adhere to all and any new International Audit and Accounting Standards and is constantly researched, developed and tested with audit clients.
• PROBE audit methodology integrates with the latest Caseware annual financial statements, working papers and lead sheets to enable streamlined electronic audit processing and review.
• PROBE audit methodology is designed to assist the process of risk identification and designing of audit procedures to address the risks identified as well as the documentation of related procedures and findings to ensure the risks are addressed.
• Furthermore, Caseware working papers provide assistance to ensure comprehensive reporting to management on findings obtained during procedures performed on the annual financial statements.