Audit is a very important undertaking for businesses and organizations as it helps to ensure the financial documents are accurate and reflect a fair and true position. Indeed audit helps points to aspects of an organization that needs improvements, areas of concern and compliance with relevant statutes ensuring the operations runs smoothly and better profitability.
Kreston KM has been in operation since 1996, and is the Kenyan member firm of Kreston Global, a global network of independent accounting firms that offers a partner-led audit and assurance services with experienced partners and team. It is on this background therefore that we wish to share some insights on, how to pick the best audit firm for your audit needs or services in Kenya.
What to check when picking an audit firm
It is of critical importance to choose the best audit firm for your audit needs. This will ensure you get satisfactory reports and to get value for your money. Below we have discussed on the things to consider when choosing a reputable audit firm in Nairobi like Kreston KM.
When choosing an audit firm for your organization you need a well experienced audit firm with established good work culture. A well experienced audit firm will bring with it great professionalism, easy understanding of the needs of your organization, great services and advices etc. This will ensure you get good value for your money.
A well-qualified audit firm can be assessed by the qualification of the team. A well-qualified audit team can be justified with the paper qualification they hold. It’s essential to do a background check on the audit firm you wish to engage. Some of the qualifications that local auditors must possess include having a certified CPA-K standing and a valid trading license from ICPAK.
Of key importance is the level of service you require and if the firm can offer that .
Reputation of a firm is a key aspect to look at when engaging a firm. Getting a firm with good reputation guarantees that you are getting good service and you will be getting value for your money. Testimonials, past work done by the firm and feedback from past clients can help you access the audit firm’s reputation.
Also, choosing a firm with a good reputation ensures you don’t associate with firms with bad records and reputation which would expose you to operational and compliance threats.
4. Value addition
Value addition are other services a firm would issue as a bonus to the audit services. A firm that offers this services in the course of auditing services gives you an extra service that are very crucial for your business. Services like tax advisory services mitigates tax assessment risks as your records are presented in a manner compliant with the tax laws.