Assurance

Assurance

Statutory Private & Public Sector Audits:

We provide audit services that are compliant to South African Audit Standards and International Audit Standards. 

Our audit approach and strategy:

The Batima audit approach is a risk based approach which will include a detailed risk assessment with the objective of identifying high risk areas.  These high risk areas identified will thereafter direct the audit strategy. This will result in a cost effective and efficient audit. 

Features of our approach:

  • Developing an understanding of the organisation’s activities, processes and the environment in which it operates
  • Performing a thorough risk assessment as part of the planning
  • Customising audit plans to the specific client
  • Critically reviewing the control environment and reporting on weaknesses, where improvements can be made and best practice
  • Communicating at each stage of the audit process with all relevant parties involved

Performance Audits

An independent audit of the management measures instituted to ensure the economical procurement and efficient and effective utilization of resources.

Our reporting is based on factual findings and does not include an audit opinion.

Audit criteria are:

  • Economy
  • Efficiency
  • Effectiveness 

 

Audit of Predetermined Objectives:

This is a mandatory audit for the public sector in terms of section 20 (2) (c) of the PAA.

This audit can be defined as an annual audit of actual performance reported against predetermined objectives. This is executed as an integral part of the annual regulatory audit.

 

Corporate Governance and Internal Audit Services:

The increased awareness in both the private and public sectors of the importance of good corporate governance, effective risk management and internal controls, has resulted in a rapid growth in the demand for quality internal audit, corporate governance reviews, risk and compliance services.

Batima’s internal audit department is geared to bring in the required skills, experience and capacity in co-sourcing with or outsourcing of an internal audit function. We draw on our wide specialist skills to bring a comprehensive solution to our clients. In addition to providing independent assurance on critical business processes, we strive to be strategic business advisors by focusing on continuous business improvement and assist you to achieve your business objectives. As a basic, Batima’s internal audit services provide assurance on internal financial controls in order to assist our clients to comply with the requirements of King III.

We work with our clients’ management team and assist them by assessing the adequacy and monitoring the effectiveness of their internal controls, making recommendations on correcting deficiencies if necessary and providing an independent and valued opinion, assisting management in identifying the key strategic risks in their organisation, assessing whether they have the appropriate policies, procedures and processes in place to mitigate these risks, alerting management to areas where they are particularly at risk and identifying opportunities to improve their levels of risk management.

In a fully outsourced internal audit function Batima performs all internal audit activities which include risk assessment, audit coverage plans, fieldwork, communication and reporting to management and audit committee on a recurring basis.

In co-sourced functions Batima increases the technical capacity of the client’s internal audit function and provides the necessary support to the Chief Audit Executive.

In some cases Batima can second staff full time to clients to ensure that they have adequate capacity and to augment existing internal audit functions. The clients have a choice of taking responsibility for supervision of staff and all aspects of tasks performed, or they can obtain the full benefits of outsourced internal audit with the benefit of full time seconded staff.

In other cases, and in line with the requirements of the King III report which requires evaluation of the effectiveness of the internal audit function quality assurance, Batima provides a comprehensive review of the overall effectiveness of an internal audit function including compliance to professional standards, effectiveness and efficiency of function activities, organization, resource and skill capabilities, evaluation of stakeholder needs and fulfillment of those needs, and identification of strengths and improvement opportunities that strategically position the internal audit function for on-going success.

Batima also conducts audits of performance information as part of the internal audit function which, in the public sector, involves evaluating the performance of a government department, or entity, against what it has been tasked to do and, where appropriate, includes recommendations on how its performance could be improved. While these audits are peculiar to the public sector, there is also an increasing need in the private sector for the internal audit function to conduct strategic reviews of business performance.

A formidable team of Chartered Accountants and Certified Internal Auditors are responsible for the firm’s Internal Audit Services which include:

  • Risk management consulting
  • Risk assessments
  • Developing internal audit coverage plans
  • Control risk self assessments
  • Quality assurance reviews
  • Development of policy and procedure manuals
  • Full range of co-sourcing options

 

Information Technology Audit:

The IT audit division provides advisory and assurance services within the information systems environment. These services ensure that the controls in the general computer and information systems environment and controls over applications used to process financial and operational information are adequate to enable financial audit to place reliance on the information generated by the systems.

IT Audit Services include:

  • General Controls Review – audit designed to address risks which are pervasive across the IS environment.
  • Application Controls Review – audit designed to address application specific risks during input, processing and output.
  • Computer Assisted Audit Techniques (CAATS) – audit designed to use computer procedures to process data of audit significance (data analysis) from an organisations accounting, personnel and other computer systems.
  • Network Reviews – designed to establish the integrity of the networks supporting communication.
  • Security Reviews – audit designed to establish information security management in an organisation.
  • Disaster Recovery Review – audit is designed to review and the test the process, policies and procedures related to preparing for recovery of IT infrastructure critical to an organisation.
  • IT Project Review – audit designed to establish whether IT projects have followed a formalized process and aligned to business requirements.
  • Post Implementation Reviews – audit is designed to establish amongst others whether the intended objectives of implementing an IT solution are aligned to business objectives, to evaluate the adequacy of procedures and controls over input, processing and output and to identify potential risks and weakness in controls.
  • SAP Basis and Authorisations Audit – audit designed to test basis module and segregation of duties amongst users.
  • IT Due diligence – System reviews on a mergers and acquisition transaction.
  • IT Tender Process / Procurement – Evaluate tender compliance review process.
  • Process Assurance– Analysis to identify deviations to a best practice process or even benchmarked processes.
  • IT Audit training – Training to an internal audit department
  • IT Audit Dept Evaluation – as part of IIA Quality Assessment Review process.
  • IT Policy and Procedure Review – Evaluation and Compilation of standard IT policies.
  • IT System Selection – facilitate a Request for Proposal (RFP) process for an organisation.

Forensic Audit and Investigations:

Batima forensic services will take a revolutionary approach to white-collar crime, expanding the scope of forensic accounting to include investigations into theft, fraud, corruption, money-laundering and fraud risk.
Batima takes a pro-active, thorough and holistic approach to the business of forensic investigation and offers forensic accounting and investigations, fraud risk management and forensic computer technology solutions.

Forensic accounting and investigative assignments involve probing financial and accounting issues, often in a legal or regulatory context. Each investigation is different and requires specialist skills for a speedy and reliable outcome. We tailor-make our assignments to suit individual client needs and circumstances.
We will produce comprehensive reports addressing all areas of concern in accordance with an agreed mandate. These investigations often require using in-depth industry knowledge and investigative experience.

Our extensive experience will also enable us to assist with various investigations that the modern organization may need to minimise risks or protect its reputation. Examples include screening of new employees, background checks on suppliers, and non-financial due diligence investigations and reputation checks on prospective business partners. We also conduct internal investigations into the conduct of company officials.

Batima also assists clients with the development and implementation of innovative fraud prevention plans. The benefits of implementing such plans are not only financial but also reduce demand on management time and improve corporate image and morale. Batima can also assist companies to develop customised code of conduct and assist in the development and roll out of the fraud prevention plans.

The consultants in Batima’s trailblazing forensic division are sourced from a variety of backgrounds and are skilled in the diverse disciplines required to supply clients with a world class, professional holistic forensic offering.

Other services provided by our forensic team of experts include:

  • Civil litigation issues, including shareholder disputes
  • Employee disciplinary hearings.
  • Probity investigations
  • Forensic due diligence
  • Tender application investigations
  • Insurance disputes
  • Services to regulatory bodies, including license application investigations
  • Asset tracing and valuation during marital disputes.
  • Money laundering investigations.
  • Forensic Accounting and Investigations
  • Fraud Risk Management
  • Accounting Litigation Support
  • Forensic Computer Technology Solutions

 

Internal Audits – View MFHCA.co.za