Understand the Business

The objective of understanding the business is to produce a risk map that plots the significance and likelihood of each business risk.

The risk map serves as the platform for determining all subsequent audit work because all subsequent work is focused on addressing the key risks plotted on the map. To develop the risk map we go through the following stages.

Identify Business Risk and Issues: Our team will work with your operational and financial management to jointly assess the environment in which you operate. This provides a structured and industry-specific means of identifying key issues and areas of strategic focus for the business and will be a basis for identifying immediate and longer-term risks.

Evaluate and Prioritize Risk: Having identified the business issues and risks, we complete a comprehensive evaluation of the business risks in order to establish the scope and focus of our work. We then Prioritize the risks in order to highlight those areas where the business is most exposed. To do this we consider: Likelihood - how possible is it that adverse consequences will occur? Significance - how material is the potential adverse consequence? We then plot the balance between the level of risk (significance) and its likelihood on the risk map. Having generated the risk map, we identify the key business processes affected by the business risks. We then analyse the control that management exercise over the key business processes and, in particular, which controls manage the key business risks.

Access the Company's Risk Controls

Our objective in assessing controls is to evaluate how the company manages and controls the key business risks highlighted in our risk assessment. Strong controls in key areas such as capital expenditure (including own built capital projects), revenue recognition and credit and collection will mitigate audit risk.

As part of the audit we seek to identify opportunities for improving your controls and key business processes.

Determine and Address Residual Audit Risk

On obtaining a clear picture of the effectiveness of your controls, we design further tests to address any residual audit risk. The scope and timing of our final audit testing depends on the nature of the residual risk and the results of our control testing.


Close and regular communication between the Company's management and our audit team will ensure that we understand how your business is developing and jointly analyze the critical issues arising at any time during the year.


Our emphasis is on ensuring strong internal control systems to minimize the risk of accidental or deliberate errors and omissions. Safeguarding of assets, adequate division of authority over key control areas and compliance with internal operating policies and guidelines are other focus areas of our procedures.


Productivity and efficiency of management are key determinants of an organization's success. Our procedures aim to maximize management performance by focusing on improving processes within the organization.


Our objective is to ensure that resources of the organization are optimized to deliver maximum possible value. We focus on streamlining processes, minimizing waste and objective measurement of management and staff performance.


Despite designing and installing high quality control systems, organizations do face situations involving fraud and financial impropriety. We have assisted clients in unearthing such situations and taking remedial action.


We assist clients in conducting financial, legal and accounting reviews in case of mergers, acquisitions and investments. A sound understanding of local laws, regulations and accounting practices enables us to vet all critical issues in detail. Effective Due Diligence depends on identifying and then managing significant transaction issues, anticipating and identifying potentially important risk and negotiation issues. The objective of this is to improve all future performances of the organization by forecasting potential risk outcomes and attempting to improve the efficiency and of course the effectiveness of the existing business processes. Our basic approach is to save time, money and effort besides helping in influencing the price at the outset of the deal.


Accurately measuring and managing cost and accounting data is critical for management decision making and reporting. Our assistance in developing and installing these systems help management their decision making process.


We have the distinction of having conducted investigation audits for various institutions wherein apart from analyzing the impact of irregularities, we have devised mechanisms for prevention and detection of irregularities of whatever nature that could occur in any organization.

Our Services