Audits are compulsory under statutes for a great number of undertakings, the major ones being limited liability companies.  The statutory regulations as to the appointment of auditors and their duties are regulated by the respective statutes.

  • Audits of private firms
    The audits of private firms e.g. partnerships, depends entirely on partnership deeds.  The rights of the auditors appointed under this arrangement are defined by the partners of the firm.  It therefore usually so happens that the auditor acts also in the capacity of the accountant.
  • Investigation work
    Investigation work is usually carried out on the request of a client for the purpose of obtaining more detailed information of a particular nature.  The most common assignment relates to suspected fraud in an organization involving misappropriation of funds or loss of assets through some dishonest means.  Some of the principal classes of investigation which may be required by clients are:-
    • Investigation on behalf of an individual or a firm proposing to buy a business;
    • Investigation for the purpose of preparing a report on profits for insertion in a
    • Investigation on behalf of prospective in-going partners;
    • Investigation on behalf of banks for credit purposes;
    • Investigation on behalf of a person intending to invest in a private business firm or  company;
    • Investigation in connection with tax liability.