Audit and assurance

Contractual audit, internal audit and agreed upon procedures

When a bank, a parent company, a buyer or your own board needs assurance beyond the legal minimum.

Chartered accounting Statutory audit Contractual and internal audit Donor project audits Tax and payroll Advisory

Not every audit is imposed by law. A lender may require audited statements, a group may want its Djibouti subsidiary reviewed before consolidation, an investor may need due diligence before a transaction, or a board may simply want to know whether its procedures work. AXIAL Advisory and Audit designs each engagement around the question you need answered and the level of assurance your stakeholders expect.

Our engagements follow the International Standards on Auditing for audits, ISRE for reviews and ISRS 4400 for agreed upon procedures, so that the report is understood and accepted by banks, donors and group auditors abroad.

Engagements we carry out

Contractual audit and limited review

Audit or review of annual or interim financial statements for banks, shareholders, parent companies and buyers, with an opinion or a conclusion in the agreed format.

Internal audit and internal control

Risk mapping, review of purchasing, treasury, payroll and stock procedures, testing of controls and an action plan prioritised with management.

Agreed upon procedures and inventories

Physical inventories of fixed assets and stocks, verification of receivables or interest calculations, factual findings reports under ISRS 4400.

How we work

Typical situations

A bank conditions a loan on audited statements. A parent company wants assurance on the figures reported by its Djibouti entity. A buyer wants a financial due diligence before signing. A public body needs a physical inventory of its assets with evidential value. A board wants an independent view on internal control after a change of management.

Framing

We clarify the users of the report, the questions to answer and the standard that applies, then set them out in an engagement letter.

Fieldwork

Work is carried out on site or remotely by a team led by a partner, with a document request list sent in advance.

Findings

Each finding is discussed with the persons concerned before being written, to avoid misunderstandings and to obtain their responses.

Report

A clear report, in French or English, with an executive summary readable by a non specialist and detailed annexes for the technical teams.

Frequently asked questions

Answers to the questions we are most often asked before an engagement.

An audit provides reasonable assurance and an opinion, based on extensive testing. A review provides limited assurance based mainly on analytical procedures and enquiries, at a lower cost. We help you choose according to what your stakeholders require.

Yes. Our reports follow international standards and can be issued in English, which is what group auditors and foreign lenders generally expect.

Yes. Our partners have carried out tagging, counting and valuation of assets for several public bodies in Djibouti, with reconciliation to the fixed asset register.

Usually within two to three weeks of signing the engagement letter, and faster for urgent transactions when the documentation is ready.

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