Audit and Assurance Services

Independent evaluations to ensure financial accuracy and operational efficiency

At Afribiz Consultancy, we offer Audit and Assurance Services designed to provide businesses with independent and objective evaluations of their financial records, internal controls, and operations. Our services ensure that your financial statements are accurate, compliant with regulations, and reflect the true financial health of your business. Whether you're a small business, a startup, or a large corporation, our team of professional auditors offers insightful assessments that contribute to better decision-making, enhanced operational efficiency, and greater transparency.

Our Audit and Assurance Services Include:

1). Financial Audits:

External Audits: We provide external audit services that offer an independent and thorough review of your financial statements, ensuring that they comply with the relevant accounting standards (such as IFRS or KAS) and accurately represent your financial position. Our audits add credibility to your financial reports and provide stakeholders with the assurance they need.
Internal Audits: We conduct internal audits to evaluate the effectiveness of your internal controls, risk management processes, and financial reporting systems. This helps identify weaknesses or inefficiencies and provides recommendations for improving your operations and compliance.
Audit Report Issuance: After completing the audit process, we provide detailed audit reports outlining our findings and conclusions, along with any necessary recommendations for improvements.

2). Statutory Audits:

Compliance with Local Regulations: For businesses operating in Kenya, we ensure compliance with the statutory audit requirements set by the Kenya Revenue Authority (KRA) and other relevant regulatory bodies. Statutory audits are essential for ensuring that your business remains in good standing with the law.
Shareholder and Stakeholder Assurance: We provide shareholders, investors, and stakeholders with independent assurance that your financial statements present a true and fair view of the company's financial performance.

3). Internal Control Reviews:

Control Systems Assessment: We assess the adequacy of your internal control systems, including processes for safeguarding assets, preventing fraud, and ensuring compliance with applicable laws and policies.
Risk Management Review: We review your business's risk management frameworks and help identify areas of operational and financial risk, providing recommendations to mitigate those risks and strengthen your overall internal controls.

4). Forensic Auditing:

Fraud Detection and Prevention: Our forensic auditing services are designed to detect and investigate any signs of financial fraud or misconduct within your organization. If there are concerns regarding financial mismanagement, embezzlement, or fraudulent activities, we conduct detailed investigations to uncover the truth.
Litigation Support: We assist in litigation matters by providing forensic audit services that may be required for legal proceedings. Our auditors compile evidence and provide expert testimony to support your case.

5). Tax Audits:

Tax Compliance Audits: We conduct tax audits to ensure that your business is fully compliant with all tax laws and regulations. Our team assesses your tax filings, tax payment history, and financial records to confirm that you are paying the correct amount of taxes and meeting your obligations under Kenyan tax law.
Tax Risk Management: Our tax audit services help identify potential tax risks and ensure that your tax filings are accurate and timely. We help minimize the risk of penalties and interest by ensuring that all tax-related matters are handled correctly.

6). Operational Audits:

Business Process Efficiency: We conduct operational audits to assess the efficiency and effectiveness of your business processes. This includes evaluating your supply chain, procurement processes, inventory management, and other operational aspects that contribute to the overall performance of your business.
Cost Efficiency: Our team identifies opportunities for cost reduction, waste minimization, and operational improvements that can help optimize your business's performance and profitability.

7). Agreed-Upon Procedures (AUP):

Specific Task Audits: In cases where a full audit is not required, we offer agreed-upon procedures (AUP) that involve performing specific tasks requested by the client or stakeholders. These procedures may include verifying certain transactions, evaluating particular business processes, or checking specific areas of compliance.
Custom Reports: Based on the agreed procedures, we provide customized audit reports highlighting the findings, conclusions, and recommendations relevant to your specific requirements.

8). Audit and Assurance for SMEs:

SME Audit Services: For small and medium-sized enterprises (SMEs), we offer affordable and effective audit services that help ensure financial transparency, establish trust with investors, and comply with regulatory requirements. We also provide advisory services to strengthen financial management and improve business processes.
Financial Health Evaluation: We help SMEs assess their financial health, offering insights into areas of growth and potential financial challenges, helping them make informed decisions to achieve long-term success.

9). Regulatory Compliance Audits:

Compliance with International Standards: Our audit services help businesses comply with international auditing standards, such as International Standards on Auditing (ISA) and International Financial Reporting Standards (IFRS), ensuring that your financial reports are internationally acceptable.
Industry-Specific Regulations: We offer specialized audits tailored to the unique regulatory requirements of various industries, including banking, healthcare, manufacturing, and non-profits.

Why Choose Afribiz Consultancy for Audit and Assurance Services?

Professional Expertise

Our team of certified auditors has in-depth knowledge and experience in financial auditing, taxation, and regulatory compliance. We stay updated on the latest developments in accounting standards, tax laws, and auditing techniques to provide high-quality services.

Independence and Objectivity

As independent auditors, we provide unbiased, objective assessments of your business's financial health and operations. Our focus is on delivering transparency and credibility to your financial statements and business processes.

Comprehensive Service Offerings

We offer a full range of audit and assurance services, from financial audits to internal control reviews, forensic investigations, and regulatory compliance checks. Whatever your audit needs, we have the expertise to meet them.

Customized Solutions

We understand that every business is unique. Our audit and assurance services are tailored to your specific needs, whether you're a small business, a startup, or a large corporation. We work closely with you to ensure that our services address your specific concerns and provide actionable insights.

Timely and Accurate Reporting

We prioritize efficiency and accuracy in our audits. We ensure that all audits are completed within the agreed timelines and that the findings are clearly communicated through comprehensive reports that include actionable recommendations.

Confidentiality and Integrity

We adhere to the highest standards of confidentiality and integrity. You can trust us to handle your financial data securely and professionally, ensuring that sensitive information remains protected.

Value-Added Insights

Beyond just compliance, we provide value-added insights that help improve the efficiency, profitability, and sustainability of your business. Our audits identify opportunities for improvement and help you mitigate potential risks.

Get Started with Audit and Assurance Services Today!

An effective audit is not just about compliance—it's about gaining valuable insights into the financial health of your business, improving operations, and managing risks. At Afribiz Consultancy, we provide audit and assurance services that offer clarity, transparency, and actionable insights to help you make informed decisions.

Contact us today to discuss how our audit and assurance services can help you maintain financial accuracy, enhance operational efficiency, and ensure compliance with all relevant regulations.