Specialized Audit Services

BANK CHARGES AUDIT
From our experience, financial charges by banks on their customers’ accounts are usually not accurate. For this reason, it is our offering to help bank customers review these charges with a view to ascertaining the accuracy of such and where possible determine overcharged costs. These costs essentially are:

  • Interest overcharges on Loan/Overdraft Accounts
  • Non-payment of interest on deposits
  • Short-payment of interest on deposits
  • Commission on Turnover (COT)
  • Charges on other facilities like APG, Forex Activities, etc
  • Other fraudulent charges and manipulations

All these charges are normally regulated by the Central Bank of Nigeria and also by mutual agreements. Our cardinal objective in placing our services at your disposal is to assist you on the need to reduce the cost of financing your operations through a review of excessive interest charges and COT (these may be excessive without you knowing) and take steps to recover the overcharged amounts from the relevant bank(s).

PAYROLL AUDIT
Personnel Cost is one of the major components of an organisation’s operating cost. Sometimes, due to slack in internal controls, there could be opportunities for fraudulent practices. Our firm offers an all encompassing Payroll Audit to discover ghost workers as well as determine the accuracy of payouts. In addition, we are positioned to offer manpower audit to ascertain the efficiency of the workforce through evaluation and assessment and assist in proffering appropriate corrective measures.
INFORMATION SYSTEMS AUDIT
Information Systems Audit is a comprehensive examination of a targeted system which consists of an evaluation of the components which made up the system. An IT systems Audit evaluated the system’s internal control design and effectiveness. This includes but not limited to efficiency and security apparatus, system development processes and IT governance. We are positioned to offer any needing organization whether private or public all the assistance required to protect the integrity of an organisation’s information assets.
MANAGEMENT AUDIT
Management Audit is a systematic examination of decisions and actions of the management with a view to analysing the performance. Management audit involves the review of organizational objective, policies, procedures, structure, control and system in order to check the efficiency or performance of the management over the activities of the Company. Management audit examines non financial data to audit the efficiency of the management. This audit tries to ascertain how well management has been operating the business of the company. Management Audit is an assessment of methods and policies of an organization’s management in the administration and the use of resources, tactical and strategic planning, and employee and organizational improvement.
ASSET VERIFICATION AND AUDIT
An Asset is described according to IASB as a resource controlled by an enterprise as a result of past events and from which future economic benefits are expected to flow to the enterprise. Assets are of two major categories, current and non-current. The non-current assets were, before the adoption of International Financial Reporting Standards, known as Fixed Assets. Fixed Assets constitute a major component of an entity’s overall investment hence the need for adequate documentation and monitoring. Keeping track of assets can be very challenging to large and small organizations as Assets can be moved between locations or reassigned to other people or even get replaced. We offer our clients assistance in their annual physical count of all fixed assets with a view to verifying their existence and ensure the update of Fixed Asset Register. We also provide assistance in the establishment of Fixed Asset Register.
INVESTIGATION
Investigation is usually carried out by under a specified scope and terms of reference. It is therefore an inquiry into specified areas of a business entity by a professional accountant in pursuance of his appointment. Types of investigations are:

  • For Investment decisions
  • Prospectus Reporting
  • Profit Forecast
  • Purchase of Business
  • Purchase of Shares in Partnership
  • Loan Requests
  • Other Investigations
  • Fraudulent activities
  • Others

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