In offering this service, we examine the financial statements presented to us by our audit clients. This examination would be conducted in accordance with the auditing standards and practices as laid down by Institute of Chartered Accountants of Nigeria (ICAN), Association of National Accountants of Nigeria (ANAN) and International Financial Reporting Standards (IFRS) as adopted in Nigeria effective from 1 January 2012.

The objectives of this examination are to ensure compliance with the relevant statutes, e.g. Companies and Allied Matters Decree 1990, the various laws, rules and regulations affecting the organisation and to report whether or not:

We have obtained all information and explanations, which we required for the purpose of the audit. In our opinion, proper books of accounts have been kept and the financial statements are in agreement therewith.

The financial statements so presented give a true and fair view of the state of affairs of the organization at the date of the Balance Sheet, and of the results for the period ended on that date. Our audit report may contain reservations, exceptions or disclaimers, if in any material respect we were unable to satisfy ourselves that the client has complied with the expected requirements.

The financial statements so presented give a true and fair view of the state of affairs of the organization at the date of the Balance Sheet, and of the results for the period ended on that date. Our audit report may contain reservations, exceptions or disclaimers, if in any material respect we were unable to satisfy ourselves that the client has complied with the expected requirements.

The Companies & Allied Matters Act, 1990 (“CAMA“). By section 360 of the CAMA, the primary functions of an Auditor of a company are to audit the financial statements of the company and form an opinion as to whether:

proper accounting records have been kept by the company and, the company’s balance sheet and profit and loss account are in agreement with the accounting records and returns.

The auditor is also required to consider whether the information given in the director’s report for the year for which the accounts are prepared is consistent with those accounts and state so accordingly. Other functions of an Auditor include:

making a report to the company and its shareholders and qualifying its report where necessary; investigation of and request for supply of information omitted from the company’s financial statement supplied to the Auditor for the audit by the company to ensuring that the audit is carried out in due compliance with regulations.

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Fundamentally, statutory audit and financial management services to International Organizations, Government Corporations and Parastatals, and Commerce remain the bedrock of our activities. Our approach in this area is basically to relate your needs (statutory wise and policy guidelines of the instrument that governs the existence of your organization or company) to the operation of these organizations.

In order to enable us carry out the above effectively, we also make use of computer assisted techniques and software especially, where such organizations have computerized their operations. This method assist us to interrogate all your Accounting software so as to form an opinion on their (the accounting software) ability to achieve the set objectives and also on the operation of the organization.

It is usual to report on the financial statements so audited by us to the over all controlling organ of your organization. Apart from our opinion, we also write a letter to the management mentioning issues bordering on efficiency and effectiveness of the internal control procedures in use and make suggestions as to improving the existing ones.