The audit approach of Duncan Dovico is systems based and its objective is to form an opinion on the financial statements. This is achieved by assessing the key risk areas and tailoring the appropriate audit procedures accordingly.
The reasons why a business has an audit performed are many. They range from requirements placed upon the business by financiers through to giving credibility to the financial statements of the business, while for others it is a statutory requirement. Duncan Dovico has a stated policy that while still meeting these prime objectives, every effort is made to ensure that clients gain maximum benefit for their audit dollar.
Our approach therefore, entails:
- Obtaining a thorough understanding of our clients' mode of operation, their infrastructure and the local, national markets in which they operate or plan to operate.
- Having audit programs that are designed not only to test the control systems but to also analyse the systems for efficiency and effectiveness.
- Briefing our team so they appreciate our appointment as one where we are in "partnership" with our clients and thus share common objectives and goals.
- Staff at all levels (including Partners) being readily accessible by our clients.
- Staffing all engagements with experienced and competent staff.
- Ensuring the continuity of staff assigned to each client.
- Using and making available the services of other teams within our firm.
- Being realistic and results oriented.
- Performing our testing on a progressive basis throughout the year.
- At all times being cost effective, timely and innovative in our approach.
To meet these objectives Duncan Dovico has an energetic Assurance and Risk Management Team, which is staffed by experienced and competent personnel. Within our Assurance and Risk Management Team, we also have specialists who deal specifically with servicing the internal audit requirements of our clients.