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), and the International Federation of Accountants (IFAC).
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 organisation at the date of the Balance Sheet, and of the results for the period ended on that date.
In addition to the above, we are required to ensure that the accounts comply with the applicable Statements of the Nigerian Accounting Standards (SAS), the International Financial Reporting Standards (IFRS), and other laws and guidelines affecting the preparation and presetation of financial statements within the industry concerned.
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.
In other cases, especially where we are engaged on continuous basis, our observations are brought to the knowledge of our clients early enough to ensure that appropriate steps are taken to correct the anomalies and avert any unfavourable effects.
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