AUDIT AND ASSURANCE SERVICE
This is the examination of financial statement by independent auditors in order to express an independent opinion as to whether the accounts present a True and Fair View. In doing this, Section 360 of the Companies and Allied Matters Act, CAP C20 LFN 2004 requires the auditors to express his opinion as to whether:
Proper accounting records have been kept by the company and proper returns adequate for the audit have been received from branches not visited by them.
Company’s balance sheet and its profit and loss accounts are in agreement with the account records and returns.
The scope of this audit is determined by the Act that is why it is called a statutory audit.
Audit is key to sustaining confidence in both your company and the financial system at large. It must keep pace with a fast-evolving corporate reporting environment.We approach your audit with a deep and broad understanding of your business, the industry in which you operate, and the latest regulatory standards. We consider the risks your company faces, the way management controls these risks and the transparency of your company's reporting to stakeholders.
A help assure compliance with applicable reporting standards; there are important by-products of the audit process such as the identification of internal management issues and important insights that can help you address both present and future challenges.
INTERNAL AUDIT SERVICE
The globalization, fast-changing technology and complexity or modern environment makes it difficult for organisations to achieve their goal without internal control environment. The current trend is for organisation to outsource internal audit to complement with the in-house control department.
Our Internal Audit Services can help you and your board do just that—with a comprehensive, disciplined approach that yields practical solutions, not hefty reports. Our specialists and services are focused on creating value—bringing you the insight and foresight across your business as a whole, to tackle the future head on. Internal Audit is handled by our consulting arm called MEO PROFESSIONAL SERVICES.
Internal Audit is more than an enterprise-wide engine of assurance, as critical as that is. Done right, it’s also a catalyst for creating value for your business.
A strong, strategic Internal Audit framework integrates compliance, controls and sophisticated risk management with your mission, vision, and stakeholder expectations. As such, it can help you shape a new governance and risk paradigm—anticipating issues, increasing your effectiveness, eliminating duplication, and identifying areas of potential performance improvement.
The flow of new rules and regulations across regional, national and international borders continues to intensify. No matter how large, small or diversified your organisation, almost every part of it is touched by a complex web of constantly evolving regulations—and subject to enforcement actions and fines. Not to mention reputational risk. Our Internal audit service will help you deal with compliance issues.