SMC offers a broad range of audit and assurance services which meet the demands of our clients and users of financial information. We also have a considerable range of expertise in not-for-profit organizations and niche business sectors. 

Cost effective auditing depends upon the auditors understanding of a client’s operations and organization. An audit assignment would usually commence with an initial business review to help our members develop this understanding. They ensure, by such reviews and other methods, that the financial statements properly reflect the client’s activities during the period under review.

Many clients appreciate the audit approach being extended to identify opportunities for improvements to reporting and financial control systems and to identify factors that will enhance business performance and those which currently inhibit that performance.

Audits

Audits are undertaken in accordance with the laws of the territory and the standards recognised by the appropriate regulatory authorities. Entities audited include:

• Main subsidiaries of listed companies
• Private companies
• Not for profit and charitable organizations
• Owner-managed businesses where audits are required by legislation or financial institutions

• Government authorities and agencies

Assurance Services

These are often required by regulatory authorities, particularly in connection with public interest organisations. In today’s fast moving business environment, particularly in the fully developed and rapidly emerging economies, many users of financial information are also demanding assurance about non-financial matters. Assurance Services include a broad range of services that go beyond just looking at the numbers. These also address the quality of information decision-makers use in formulating solutions to problems and in assessing financial performance.



Forecasts and projections

As businesses expand so does their need for additional finance and their need to keep informed those institutions that have already provided financial support. Such third parties often require evidence of an independent review of an organization. In many of our firms the Audit and Assurance Services practice is supported by specialist corporate finance experts who are able to assist in this important assurance service.


Assessment of internal audit procedures

Increasingly large organizations are supplementing the effectiveness of their own internal control systems by employing outside experts to review the operation of their controls on a regular basis. Many of our members are able to assist businesses with such reviews particularly in relation to the use and development of information technology systems.
 

For more information you may contact our audit personnel via phone or email to us at audit@smc76.com