Assurance

Audit Services

INNOVEX provides systematic examination of financial statements of organisations to review the reasonableness of the information contained and whether they were prepared in accordance with the applicable international accounting standards. We apply appropriate audit procedures to enable issuing an opinion on whether the financial statements present fairly the financial and economic reality of the audited entity.

Financial Audit

We perform independent and objective evaluation of the organisations’ financial reports and its processes in accordance with the International Auditing Standards (IAS). We gather evidence to determine whether the statements contain material errors or other misstatements with the aim of primarily giving the regulators, investors, directors, and managers’ reasonable assurance that financial statements are accurate and complete.

Statutory Audits

 We review the financial and operational records of various entities as per the requirement of the law of the country as stipulated in the Companies Act (2002) Chapter (v). Being an independent firm, we conduct the audit to express an opinion on whether the financial statements are free of material misstatements, whether due to fraud or error.  However, for publicly traded companies, we also express an opinion on the effectiveness of internal controls over financial reporting.

Internal Audits

We provide an independent assurance that an organisation’s risk management, governance and internal control processes are operating effectively though conducting an independent, objective assurance and consulting activity designed to add value to and improve an organisation’s operations. This is to help organisations to accomplish their objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes by improving business processes as well as commitment to integrity and accountability.

Project Audit

We provide project audits to uncover issues, concerns and challenges encountered during the project lifecycle. We audit the projects to verify project’s compliance with donor requirements, regulations and standards in order to increase project success. We also conduct project close audit to develop success criteria for future projects. Here, we aim to identify elements of the project that were successfully managed as well as challenges so as to help the organisation plan accordingly

Forensic Investigations

We conduct examination of specific records and information to help determine facts related to a suspicion or allegation of fraud or any other specified matter. This involves the evaluation of the allegations of fraudulent business practices and/or misconduct involving financial or operational matters to determine if allegations are substantiated and to prevent future occurrences; checking whether there is any intentional false representation or concealment of a material fact for the purpose of inducing another to act upon it to his or her injury. Such results can be used in a court of law or legal proceeding. We have developed tools that help us carry out some analytical review of complex data sets.

Value for Money Audits

We perform independent evidence-based investigation which examines and reports on whether economy, effectiveness and efficiency principles have been achieved in the use of resources. The main purpose is to provide  the auditee with independent information and advice about how best to use resources; encourage audited bodies to improve their performance in achieving value for money and implementing policy; and identify good practice and suggest ways in which public services could be improved.