Russell Bedford Alexander & Associates
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Audit
Russell Bedford Alexander & Associates deals with Audit assignments. There are various assignments which include:
Statutory audits.
As per Kenyan Companies Act, every limited corporation must have their financial statements audited by an independent qualified auditor. The financial statements must be reported in accordance with either full IFRS or IFRS for SME. Accordingly, the tax returns filed with the Revenue Authorities must be accompanied by audited accounts.
Internal audits.
These are audits tailored to evaluate your internal control systems and operational models and recommend further improvements necessary to achieve much needed efficiency. These audits are not mandatory and are initiated by the company management team when need arises. The terms of engagement set up the scope. Our approach ensures that the company adds value to its processes and strengthens the control environment through highlighting of the weaknesses and making a follow up on implementation of the agreed recommendations. This will enhance efficiency in company’s processes and may lead to cost reduction in the long run.
Forensic audits.
These audits are investigatory in nature. They are initiated by the stakeholders when the management style, character and motive of certain decisions become suspicious. Again, these are not mandatory. The scope or limitation of the assignment is always set up by the appointing authority for the service and has to be within the confines of applicable laws.
