JZA | Advisory, Tax and Accounting
JZA | Advisory, Tax and Accounting
The purpose of an audit is to enhance the degree of confidence of intended users in the financial statements. This is achieved by the expression of an opinion by the auditor on whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework.
Our auditors thoroughly investigate any prospective business decisions by gathering information about the financial, legal, and other significant factors of an entity. All to be compiled within a comprehensive report of the findings for your perusal.
Due Diligence is the process of investigating and auditing a prospective business decision by gathering information about the financial, legal, and other material (important) status of an entity and the issue of a report on findings.
An independent review provides limited assurance, compared to an audit. Our professionals conduct high-level analytical procedures for evidence that serves as the conclusion of an entity’s financial statements.
The scope of an independent review engagement is less than that of an audit, and therefore the level of assurance provided is lower.
As a combative measure when fraud and misconduct are suspected, we establish the facts and gather evidence which allows entities to make informed decisions.
White collar crime is on the increase and we assist our clients with Forensic and Special Investigation Services. We assist clients by establishing the facts and gathering evidence that allows clients to make informed decisions in the unfortunate circumstances where fraud and misconduct is suspected.
Our independent auditors objectively and comprehensively verify findings based only on factual findings and eliminate any biased opinions or conclusions in any form, this process is known as an agreed-upon procedure. This agreed-upon procedure will benefit an entity by allowing its management to devise their own opinions and conclusions in order to determine the right course of action based on the entity’s objectives.
The objective of an agreed-upon procedures engagement is for the auditor to carry out procedures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings. Auditor only provides a report of the factual findings.
Factual findings are agreed-upon procedures performed. The objective of which is to objectively verify findings and exclude opinions or conclusions in any form as well as any recommendations.
Benefits of agreed upon procedures:
Agreed-upon procedures can benefit your organisation when you desire factual findings without any predetermined opinions. It allows your management to create their own opinions and conclusions based on the factual findings. By having an independent auditor perform the procedures, you can be assured that the findings will not contain bias, therefore you can obtain the information you requested to help you to determine the right course of action.