HLB Ashvir provides audit and assurance services through a specialised audit department with a wide range of experience dissecting a multitude of business sectors. We adopt HLB International’s “risk-based” audit approach which requires a thorough understanding of the risks associated with an audit and focusing our audit on areas considered high risk, without ignoring other audit areas. In carrying out the audit, we attach importance to internal controls including reconciliation procedures. On global engagements, the network maintains its cohesiveness on such engagements through the GCS.

Our audit strategy is designed to ensure that all audits are conducted in accordance with International Standards on Auditing and International Standards on Quality Control. All audits are planned, controlled, recorded and reviewed with a high level of partner involvement at each critical stage of the engagement. With clear lines of responsibility and our focused client service approach, coupled with the wide experience of our engagement team, we are able to effectively manage audit transitions in a seamless manner.

Our engagement team, which is partner-led, obtains an understanding of the scope of the engagement; the nature and size of the business; the control environment; the style of management; and the economic and legal environment in which the entity operates. Based on this, we design our audit strategy and plan, in consultation with the client, thereby ensuring that the specific risks attached to the audit and the needs of our clients are taken into account during the audit process. At the end of each audit, we review the attainment of the audit objectives that we have set out for each engagement and provide a management letter giving constructive observations arising from the audit as part of added value to our clients.

We also undertake audits, reviews and mid-term and final evaluations of donor-funded programmes. Such engagements are based on the donor requirements as stipulated in the grant agreements.

HLB Ashvir keeps clients informed on new developments in the world of International Financial Reporting Standards and other local reporting requirements, thereby ensuring that they are kept fully abreast of all changes in financial reporting relevant to their businesses. In addition, we have developed sector specific audit methodologies for sectors such as financial services which are subject to specific requirements. Partners and staff involved in industry specific engagements are required to undergo training to ensure that they are conversant with the operations and the risks attached to these industries and the legislation and regulations governing these industries.

HLB Ashvir’s recognition to upholding quality is demonstrated by the firm being contracted to develop a First Initiative funded Audit Manual for the Institute of Certified Public Accountants of Kenya (ICPAK). This Manual sets out the minimum benchmark for the conduct of audits in Kenya. The firm has also been involved in developing the HLB International’s Audit Manual for use by the global network.