• Audits

We render our service for audit which is an evaluation of a person, organization, system, process, enterprise, project or product. Audits are performed to ascertain the validity and reliability of information; also to provide an assessment of a system’s internal control. The goal of an audit is to express an opinion on the person / organization/system (etc) in question, under evaluation based on work done on a test basis. Due to practical constraints, an audit seeks to provide only reasonable assurance that the statements are free from material error. Hence, statistical sampling is often adopted in audits. In the case of financial audits, a set of financial statements are said to be true and fair when they are free of material misstatements – a concept influenced by both quantitative and qualitative factors.

These audits can include any of the following:

Internal Audit

It is a profession and activity involved in helping organizations achieve their stated objectives. It does this by using a systematic methodology for analyzing business processes, procedures and activities with the goal of highlighting organizational problems and recommending solutions. Professionals called internal auditors are employed by organizations to perform the internal auditing activity.

•   System audit: A quality audit conducted on a QMS would be called a system audit. It can be described as a documented activity performed to verify, by examination and evaluation of objective evidence, that applicable elements of the QMS are appropriate and effective.

•   Adequacy audit: Is a review to verify the sufficiency of documentation for defining work and of records as evidence of satisfactory work completion.

•   Product audit: Is an examination of a particular product (i.e. hardware, processed material, software or service) to evaluate whether it conforms to requirements (i.e. specifications, performance standards).

•   Process audit: Is performed to verify that processes are working established limits. A process quality audit examines an activity to verify that the inputs, actions, and outputs are in accordance with defined requirements.

•   Compliance audit: Is an audit to ensure you’re in compliance with relevant specifications, contract, or regulation.

Monitoring Audit

It takes place to make sure if all the activities that were supposed to happen are happening and that to in a way they were supposed to be carried out. It is basically an audit just to check whether the implementation has taken place.

Due Diligence Audit

It is an intense examination of a target business for a merger or acquisition by a prospective buyer and it can be described as a fact-finding device to assist in determining whether to buy the business at all, how much to pay for the business and how to structure the acquisition. The principal purpose of Due Diligence is to verify assertions made by the Seller and to identify caveats that may not have been disclosed to the Buyer. It is a reasonable investigation about the state of affairs of the business to be acquired, focussing on matters which may have an effect on the future of the business. In short, the Buyer determines through Due Diligence that the business he / she is buying contains all the assets and liabilities that have been paid for.