Statutory and Performance Audit Assignments »

Our firm was contracted in August 2011 by the Ministry of Public Health and Sanitation (MOPHS) to provide quarterly Independent Integrated Fiduciary Review Agent (IIFRA) consultancy services involving the financial, procurement and performance audit of HSSF facilities (level 3 and 2 health facilities and DHMTs) and relevant implementing entities at District, Provincial and National levels for a period of twenty (24) months during the implementation of the KHSS Program. The objective of the consultancy assignment is to ensure that any systemic governance problems and accountability issues with regard to the implementation of the KHSSP are noted early and on a regular basis, so that corrective measures can be taken by appropriate authorities and problems rectified as soon as possible.

Our Firm was contracted in July 2010, in association with Gath Consulting Engineers, by the East African Community (EAC) to provide bi-annual Financial and Technical audits of the ADB, JICA, GOK and GOT funded Multi-national Arusha-Namanga-Athi River Road Development Project for the financial years ending 30th June 2008 to 30th June 2012 in accordance with International Standards on Auditing (ISA) as well as the International Financial Reporting Standards (IFRS) and ADB and JICA guidelines for Financial Reporting and Auditing of Projects.

We recently carried out the external audit of CCN on behalf of the Controller and Auditor General in accordance with International Standards on Auditing (ISA) and the Public Audit Act, 2003. Actual tasks included audit planning and facts finding, risk assessment, briefing sessions and interviews with the Client, desk review of documents, review of internal control systems and procedures, performance of analytical and substantive tests and procedures, as we considered necessary under the circumstances. We prepared and issued audit opinions on the Council’s Financial Statements for 2004/05, 2005/06, 2006/07, 2007/08 and 2008/09 respectively and also management letters covering all weaknesses identified in the CCN’s operations, the accounting, internal control systems and procedures, and corporate governance. Our audit reports were to be relied on by the Controller and Auditor General other interested parties.

Our firm, in association with Gath Consulting Engineers Limited, was contracted in 2008 by the Kenya Roads Board (KRB) to provide Technical Compliance, Performance and Financial Audit services of Road Agencies in Package 7 - Western Region on account of the Road Maintenance Levy Funds (RMLF) provided to these agencies by the Kenya Roads Board (KRB), as follows: Annual audit of the expenditure for financial year 2006/07 for force account work and full historical audit for the financial year 2006/07 for contracted road works; half yearly and annual (live) audits for the financial years 2007/08 and 2008/09, i.e. covering a period of 24 months.

Our firm was contracted in July 2008 by the Lake Victoria South Water Services Board (LVSWSB) to carry out a comprehensive performance audit on the functions/ operations (quantitative and qualitative assessment) and performance targets to be met by KIWASCO as stipulated in Service Provision Agreement and as adjusted by the consultant.

Tasks performed included review of the current institutional and governance structures, the accounting and internal controls, the financial management and reporting, the planning, budgeting and budgetary control procedures, the procurement and payment system and procedures, stores control procedures, the O & M procedures, the billing and collection system and procedures, including controls on Unaccounted for Water (UfW), and also assessed the staff skills and capacity; identification of institutional, operating and systems weaknesses, the impact of the AFD funded STAP project on the performance of KIWASCO, elaborated and clarified economy, efficiency and effectiveness while paying attention to internal and external constraints in KIWASCO, and report preparation and presentation.

Our firm was contracted in March 2007 by the Mombasa Water and Sewerage Company (MOWASCO) to carry out a comprehensive review of the company’s institutional/governance structure, accounting system, internal controls, and operating systems and procedures; Tasks performed included review of the current institutional and governance structures, the accounting and internal controls, the financial management and reporting, the budgeting and budgetary control procedures, the procurement and payment system and procedures, stores control procedures, the O & M procedures, the billing and collection system and procedures, including controls on Unaccounted for Water (UfW), and also assessed the staff skills and capacity; identification of institutional, operating and systems weaknesses, report preparation and presentation.

Since year 2001, we have carried out the statutory audit for Family Finance Building Society in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS), the Building Societies Act and Central Bank’s Financial Prudence Regulations.  The audit also included an examination of the books of account, supporting documentation and review of Internal Control system and procedures and corporate governance. Ensuring that financial statements are in agreement with the books of account and preparation of an audit report and a management letter covering all weaknesses identified in the organization’s accounting and internal control structure.

Our firm has recently been contracted by NWSB to carry out independent financial and technical audit of NWSC and the DWP and FTWSC Projects in accordance with International Standards on Auditing as well as World Bank’s guidelines for Financial Reporting and Auditing of Projects on a quarterly basis. The overall objectives of the assignment are to carry out a continuous and coordinated audit of all key performance indicators reported by NWSC to NWSB as provided for in the Service Provision Agreement (SPA), with a view to expressing a professional opinion on the financial statements and performance of NWSC, the statement of the DWP and FTWSC Projects, as well as compliance with the provisions of the grant agreement, and the Bank rules and procedures in respect of project management for each financial year; and also issue quarterly and annual Management Letters commenting and giving recommendations on the company’s risk management and internal control mechanisms and managerial deficiencies.

Our Firm was recently awarded by the East African Community (EAC) a contract for provision of Technical Compliance, Performance and Financial Audits for the Feasibility Study and Detailed Engineering Design for the Multi National Arusha-Namanga – Athi Road Study for the financial years ended 2004/05 and 2005/06 in accordance with International Standards on Auditing (ISA) as well as the International Financial Reporting Standards (IFRS) and ADB guidelines for Financial Reporting and Auditing of Projects and includes such test and controls, as we consider necessary under the circumstances. The objective of the technical and financial audit is to enable us to express a professional opinion on the financial position (Balance Sheet) and on the statement of receipts and expenditures of the project covering each financial year. The audit should also enable the auditors give an opinion on the statement of the revolving fund bank account (special account), as well as compliance with the provisions of the loan agreement, and the Bank rules and procedures in respect to project management for each financial year.

Our firm, in association with Gath Consulting Engineers Limited,  were contracted in 2004 by the Kenya Roads Board (KRB) to provide Technical Compliance, Performance and Financial Audits for the financial years ended 2002/03 and 2003/04 and continuous audits for the years 2004/05 and 2005/06 for Road Agencies in Package B: Central and Eastern Regions of Kenya, in accordance with International Standard of Auditing (ISA), and in compliance with Generally Accepted Accounting Principles (GAAP), the International Financial Reporting Standards (IFRS).  Express our professional opinion of the financial accounting procedures, internal control system, financial status, the accounts and financial statements of the Road Agencies and Sub-Agencies for each of the above financial year or part of a financial year.  The Road Agencies include the Ministry of Roads and Public Works (MRP&W), Districts Roads Committees (DRCs), and through the Urban Development Department (UDD), all the designated Municipal Councils within the package.

We have carried out audit the statutory audit for the Kenya Tea Development Agency for the financial years ended 30th June 1997, 1998, 1999 and 30th June 2001 to 2007 in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the Kenyan Companies Act, Cap. 486, issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations the accounting and internal control systems.

For 15 years between 1990 and 2004, we carried out the statutory audit for the Kenya Tea Packers Limited in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the Kenyan Companies Act, Cap. 486, issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations of the accounting and internal control systems.

We carried out the statutory audit for Gateway Insurance Brokers Limited in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS), the Kenyan Companies Act, Cap. 486 and the Insurance Act Cap.487, and issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations of the accounting and internal control systems.

Our firm has carried out the statutory audit for Statutory Audit for Regional AIDs Training Network (RATN) for the financial years ended 31st March 2008 and 31st March 2009 respectively in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the donor reporting requirements, issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations of the accounting and internal control systems.

We carried out in 2007 the audit of the World Ban/GOK funded Decentralized HIV/AIDS and Reproductive Health (DARE) that was being implemented in seventy six (76) Districts throughout the country for the period 1st October 2001 to 30th June 2005 in accordance with International Standards on Auditing (ISA), issued an audit opinion on the Financial Statements and a management letter covering all weaknesses identified in the organization’s operations the accounting and internal control systems.  Our audit report was to be relied on by the Controller and Auditor General, GOK, IDA and other donors and stakeholders.

We carried out the external audits of 6 national NGOs and 48 Civil Society Organizations (CBOs/NGOs) based in South Rift region of Kenya funded by IDA under the Kenya HIV Aids Disaster Response Project (KHADREP) for the year ended 30th June 2006 in accordance with International Standards on Auditing (ISA), issued an audit opinion on the Financial Statements and a management letter covering all weaknesses identified in the organization’s operations the accounting and internal control systems.  Our audit report was to be relied on by the Controller and Auditor General, NACC, GOK and other stakeholders.

Our firm recently carried out a performance and financial audit for the DFID funded Mumias Education for Empowerment (MEFE) Accountable Grant for the period July 1998 to 31st March 2004 in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the donor reporting requirements, issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations of the accounting and internal control systems.

Our firm recently carried out a performance and financial audit for the DFID funded Woodlands (2000) Trust (W2T) and Horticultural Ethical Business Initiative (HEBI) Accountable Grants for the period 1st May 2002 to 30th April 2004 and 1st September 2003 to 30th April 2004 respectively in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the Grant Agreements, issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations of the accounting and internal control systems and also developed simple accounting financial and procedures manual for the two organisations.

Our firm recently carried out a performance and financial audit for the DFID funded Federation of Women Lawyers Kenya (FIDA) Accountable Grant for the period 1st June to 31st July 2003 in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the Grant Agreement, issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations of the accounting and internal control systems.

Our firm was contracted by DFIDEA to carry out an audit assessment and report on the overall financial probity within KICK and Ziwa Creations, i.e. the soundness of the existing management information systems, the built-in internal controls and the adequacy of the overall financial reporting structure. The TOR particularly required the consultant to review and report on whether: Proper internal control system has been put in place; the financial agreement between KICK and Ziwa and the resulting documentation have been properly executed; the existing financial reporting system of KICK/Ziwa as a whole is able to produce accurate financial information for all stakeholders; and there is sufficient separation of duties and whether the two organizations have sufficient human capacity to undertake the level of financial reporting expected of them.

Our firm has carried out the statutory audit for National Women Council of Kenya (NWCK) USAID/Kenya Grant since year 2000 in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the donor reporting requirements, issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations of the accounting and internal control systems.

Our firm has carried out the statutory audit for People Against Torture (PAT) since year 2000 in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the donor reporting requirements, issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations of the accounting and internal control systems.

Our firm recently carried out a performance and financial audit for the Save the Children - Canada in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the donor reporting requirements, issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations of the accounting and internal control systems.

We have carried out audit the statutory audit for 10 KTDA managed Tea Factory Companies for over 10 years in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the Kenyan Companies Act, Cap. 486, and issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations the accounting and internal control systems.  The Tea factory companies have included Ndima, Mununga, Kinoro, Imenti, Rukuriri, Kiegoi, Kagwe, Chebut, Tegat and Kiberigo

We have carried out audit the statutory audit for the Kenya National Chamber of Commerce & Industry (KNCCI) for the financial years 31st December 2000 to 31st December 2007 in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the relevant Kenyan legislation, and issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations the accounting and internal control systems.

We carried out the statutory financial audits for NYEWASCO for the last four years ended 30th June 2001 30th June 2007 in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the Kenyan Companies Act, Cap. 486, issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations, the accounting and internal control systems.

We carried out the statutory financial audits for MEWASS for the last two years ended 30th June 2003  to 30th June 2006 in accordance with International Standards on Auditing (ISA), and in compliance with the Trustee’s Perpetual Succession Act, Cap 162, issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations, the accounting and internal control systems.

We have carried out audit the statutory audit for Muramati Sacco Society Limited in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the Kenyan Co-operative Societies Act, Cap.490, and issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations the accounting and internal control systems.

We have carried out audit the statutory audit for Transcom Sacco Society Limited in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the Kenyan Co-operative Societies Act, Cap.490, and issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations the accounting and internal control systems.

We have carried out audit the statutory audit for Chuna Sacco Society Limited in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the Kenyan Co-operative Societies Act, Cap.490, and issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations the accounting and internal control systems.

We have carried out audit the statutory audit for Kumbu Kumbu Sacco Society Limited in accordance with International Standards on Auditing (ISA), and in compliance with the International Financial Reporting Standards (IFRS) and the Kenyan Co-operative Societies Act, Cap.490, and issued an audit opinion on the Financial Statement and a management letter covering all weaknesses identified in the organization’s operations the accounting and internal control systems.