Audit Services

Audit Services

We strongly believe that the audit, although a statutory requirement, can add value to client organizations and assist management in their decision-making process. Our approach to audit is to ensure that each project is well planned and produces no surprises.
We are committed to providing the highest standards of service based on long-term, director-led client relationships. We strive to provide imaginative yet pragmatic advice and solutions, derived from a thorough understanding of our clients' needs. This is made possible by the quality of our people and our depth of expertise at all levels.
At the heart of our multidisciplinary service offerings is our audit services. Our auditors conduct statutory or voluntary audits of financial statements and / or consolidated financial statements in compliance with national and international best practises. In order to live up to our responsibility in relation to the businesses and their shareholders but also in relation to business partners and the general public, our audit approach is both risk-oriented and process-oriented.
As an integral part of the financial statements it includes, if required, audits, audits of risk management systems and sustainability reporting, to name just a few. In supplementing, we offer additional assurance services in support of the stake-holders, for example for individual parts of the financial statements or for financial statements prepared for a specific purpose. As a matter of objective, we also conduct reviews of our client’s financial statements, both in accordance with national and international standards.
As there are hardly any fields of business that are not based on efficient IT systems, our IT specialists offer services such as IT system audits, migration audits and data analyses in close co-operation with our auditors.
Legislation requires registered public and private companies to have audits performed by an independent registered auditor. OCTAQ Consulting Services offers this service in accordance with International Auditing Standards.
In view of the comprehensive legal requirements that the management and supervisory bodies have to adhere to, we support our clients in their monitoring obligations.
In this connection, we conduct statutory audits (company formation audits, audits for contributions in kind, special audits under stock corporation law, merger audits etc.) as well as system oriented audits such as compliance audits. We adhere to the highest standards of conduct and moral behaviour, and maintain the highest level of ethics in all our audits.

  • WHAT YOUR BUSINESS NEEDS!

    STATUTORY AUDIT Our Audit and Assurance section provides complete range of statutory audit, financial management and accounting services to international organizations, Government corporations, agencies, parastatals and broad range of other clients.
    Our approach in this area is basically to relate your needs (statutory wise and policy guidelines of the instrument that governs the existence of your organization or company) to the operation of these organizations. Our Audits are conducted in accordance with national and international accepted auditing standards. In order to enable us carry out the above service effectively, we also make use of computer assisted techniques and software especially, where such organizations have computerized their operations. This method assists us to interrogate all your accounting software so as to form an opinion on their abilities to achieve the set objectives and also on the operation of the organization.
    It is usual to report on the financial statements audited by us to the overall controlling organ of your organization. Apart from our opinion, we also write a letter to the management mentioning issues bordering on efficiency and effectiveness of the internal control procedures in use and make suggestions as to improving the existing ones. We also assist our clients in identifying where weak business controls could be strengthened while maintaining a strong-line communications with clients.
    We carry out accounting duties such as:


    Our tax services unit are split into the following (but not limited to) four major areas:

    1)Design and Installation of Internal Control systems

    2)Training and Re-training of Accounting Staff for greater efficiency and productivity

    INTERNAL AUDIT & INVESTIGATION SERVICES Apart from our activity as statutory auditors, we may be engaged to carry out such services as internal auditing for your organization.
    In which case, we prepare report at the end of the period on which we are reporting.
    The main objective of this is to ensure that all other internal control procedures are fool proof and suggestions for improvements are made as need be. At times of doubt, investigations on specific matters may be necessary. We offer our services at your disposal for riddance of such doubts.
    If properly put in place together with proper accounting records, it will go a long way to reduce errors in the book keeping system, and others, such costs of external auditor’s remuneration, fines payables due to ignorantly flouting of the Companies and Allied Matters Decree of 1990.
    We also provide information for management such as pro-forma income statements (forecasts) and budgets and executing investigations with a view to detecting potential fraud with recommendations for control measures.
    We also assist organizations in corporate finance and recovery services etc.


    We are driven by the following principles:

    1)Integrity

    2)Objectivity

    3)Independence

    4)Professional Competence & Due Care

    5)Professional Behaviour

    6)Technical Standards

    Our audits go beyond the statutory requirement as our experts add value to our clients in the form of valuable recommendations for improvements in internal controls, procedures and profitability.
    Our professionals are trained to gather information during our auditing process to understand fully the client’s business, internal controls and risk spectrum, then they make the audit decisions, and our financial advisory experts deliver perfect diagnostic tests.