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MNC Consulting Group > Special Purpose Audit

Special Purpose Audit

Unlike the statutory and non-statutory audit of financial statements, we perform special purpose audits, review or inspections for report users on certain areas of interest as directed.

Some of the services we offer are as follows:

Forensic Audit –  We use our auditing and investigative skills to ascertain whether or not there is fraud, misappropriation of funds, money laundering, tax evasion, insider trading, and quantification of loss in case of insurance claims, determination of the profit share of business  partners in case of a dispute and determination of claims for professional negligence relating to the accountancy profession.

  Internal Audit – The audit provides assurance over the effectiveness of internal controls, risk management, and governance. We work with our clients either as being outsourced to perform the internal audit function or by offering advisory services through training and development in terms of skills and knowledge to the clients’ employees in the internal audit department through training and seminars.

Compliance Audit – We examine your business policies, procedures and internal systems to establish whether a company is in compliance with requirements of particular laws and regulations.

 Tax Audit – We conduct tax audit by assessing the accuracy of the tax returns filed by a company that enables us to determine whether there is over or under assessment of tax liability towards the tax authorities as well as establish the tax exposure.

 Value for Money Audit – We assess the efficiency, effectiveness, and economy of an organization’s use of resources.

 Information System Audit – We conduct information system audit by assessing the controls relevant to the IT infrastructure within an organization.

 Operational Audit – We assess how an organization conducts business with the objective/aim of pointing out areas that may increase efficiency and effectiveness.

 Construction Audit – We conduct an audit of the costs incurred for a particular construction project. We analyse the contracts and sub-contracts, overhead costs, budgeting and budget analysis with an objective of establishing possible risk areas as well as if the project is economically viable.

 Payroll audits – We examine an organization’s payroll processes to ensure their accuracy.

 Management Audit – We evaluate an organization’s management team as well as their internal controls to ensure they adhere to organizational procedures, policies and objectives.

  Public Sector Audit – This is an audit of state owned organisations/ corporations to ensure that they operate in a manner which is in the best interest of the public.

  Agreed Upon Procedures Engagement – This is an engagement where we establish with the client a set of procedures to perform based on their requirements as well as intended objective.

 Social Audit – We assess whether the company is achieving its desired objectives towards social responsibility.

 Project Audit- We carry out a review of a project to establish that management standards are being adhered to as well as assess the economic feasibility for the project.

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