Tag Archives: audit

After the Crisis: Enhancing Our Audit Approach to Build Trust

We have a crisis of confidence in audits in Ghana. That audits matter hit home when some banks failed, and the Bank of Ghana stepped in to rescue the weak banks. The public asked, “where were the auditors”? “Can we trust our auditors”? We are acting to make sure you can count on our audits. […]

How Much Will the Audit Cost?

“How much will the audit cost? It is a fair question, but our response will be, “to give you a quote we need to know a bit about your business.” So, what factors go into deciding how much the audit will cost? The auditor’s constraints Audit and accounting standards control the auditor’s work. Whichever approach […]

Dreading your annual audit? Don’t!

There’s no denying, an audit can be a hassle. But it doesn’t have to be. And yes, it can throw up the odd unpleasant surprise – but in reality, it shouldn’t. So, how can you take the surprises and the hassle out of your annual audit? It’s simple: Be prepared. Want to learn how? Read […]

What is the main objective of a financial statement audit?

Did the auditors sleep on the job? Did they collude with the management? Can we even trust auditors? Ghanaians have been asking such questions ever since the Bank of Ghana withdrew the licenses of five banks. So, to better judge the work of an auditor, you must: Understand the objectives the auditor seeks to achieve. […]

Surviving A Ghana Revenue Authority (GRA) Tax Audit

Every so often, the Ghana Revenue Authority (GRA) may conduct an audit of a taxpayer. And the typical reaction when a taxpayer gets a notice of an audit is anxiety, and sometimes fear. That is perfectly understandable. However, the best way to combat this is preparation. Start by arranging your affairs on an ongoing basis, […]