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Audit and assurance

An audit of the financial statements is a reasonable assurance engagement.

We conduct our audits in accordance with International Standards on Auditing. Those standards require that we plan and perform our audit to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. These audits include examining on a test basis, evidence supporting the amounts and disclosures in the financial statements, as required by the relevant financial reporting framework and the requirements of the Companies Act of South Africa. We have extensive experience in the private sector and when working with our clients we pride ourselves on getting an in-depth understanding of their business operations. We conduct our audit procedures effectively to deliver insightful advice, a quality audit and a report that complies with all applicable rules, laws and regulations. In terms of the Companies Act all public sector and state-owned companies as well as companies that meet the requirement test as per the Regulations of the Companies Act need a financial audit to be carried out annually. Companies that do not meet this requirement may elect to have a voluntary audit performed. The auditing procedures and audit process we follow should determine if your financial statements are in accordance with applicable accounting standards, laws and regulations. We comply with the auditing standards when performing financial audits.
External Audit External Audit

External audit

We provide independent external audit services, delivering assurance that strengthens the credibility and reliability of your financial statements.

Forensic audit Forensic audit

Forensic audit

We provide access to experienced forensic accounting specialists who assist clients in investigating suspected fraud, financial misconduct and other irregularities.

Independent review Independent review

Independent review

Our independent review services provide businesses with limited assurance over their financial statements through an efficient review process.

External audit

We plan and perform our audits efficiently with a focus on minimising disruption to your business during the external audit process. Our vast expertise and experience as external auditors in the private sector means we efficiently follow audit procedures which are in line with auditing and accounting standards when performing your statutory or voluntary audit.

We understand that the purpose of engaging an external audit firm should be more than just working with a firm that performs an audit that complies with auditing standards. We believe it is about adding value to clients by offering expert advice on the sustainability and future success of your business.

As a registered audit firm, Baker Tilly Tuffias is registered with the Independent Regulatory Board for Auditors (IRBA) and operates in accordance with applicable professional, ethical and quality management standards.

Forensic audit

Although Baker Tilly Tuffias does not conduct forensic audits, we are able to introduce clients to expert external forensic audit specialists. Unfortunately, our industry does encounter organisations or individuals who are involved in fraud and embezzlement and as a result, we engage with top forensic accounting firms who are able to provide excellent forensic audit reports based on their extensive forensic and investigative accounting skills.

Independent review

An independent review provides limited assurance over your financial statements and, where appropriate, can be an efficient alternative to a statutory audit.

We conduct Independent reviews in accordance with the International Standard on Review Engagements, Engagements to Review Historical Financial Statements (ISRE 2400 (Revised)).

The independent reviewer performs procedures consisting primarily of making inquiries of management and others within the entity, applying analytical procedures, and evaluating the evidence obtained.