INDEPENDENT AUDIT · RISK-BASED APPROACH · TANZANIAdar@jaiwawaasssociates.co.tz   |   +255 734 293 606
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Audit Services

Three audit disciplines.
One risk-based mindset.

Jaiwawa Associates undertakes risk-based auditing. Engagements are designed around the objectives, criteria, operating environment and risks relevant to the organisation and agreed scope.

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Three audit disciplines. One risk-based mindset.

Are the risks that matter receiving the right audit attention?

Discuss how our audit approach can support your organisation.

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Core services

Choose the audit that answers the right question.

We begin by understanding what the engagement must establish, what requirements apply and where the most significant risks may sit. Contact us to discuss the right scope for your organisation.

Financial Audit

Financial audit involves collecting audit evidence to assess whether an entity’s financial information is presented in accordance with the applicable financial reporting and regulatory framework. The audit objective is to enhance intended users’ confidence by identifying material misstatements, whether arising from fraud or error, and expressing an opinion based on the evidence obtained.

What the work may address

  • Financial statement balances, disclosures and material transaction classes.
  • Revenue, expenditure, cash and bank, inventory, assets, liabilities and related-party transactions, as relevant.
  • Understanding and evaluation of internal controls and the risk of material misstatement.
  • Materiality, sampling, substantive procedures and tests of controls where appropriate.
  • Audit findings and reporting under the applicable engagement framework.

The client outcome

A clearly scoped independent audit designed to support reliable reporting and informed decisions. The auditor’s report depends on the engagement terms, findings and applicable standards.

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Compliance Audit

A compliance audit focuses on whether activities, transactions or processes comply with the requirements and criteria relevant to the engagement. The criteria and scope should be agreed and clearly defined before work begins.

What the work may address

  • Compliance with selected legal and regulatory requirements.
  • Adherence to contractual terms, donor conditions, policies and internal procedures, where included in scope.
  • Authorisation, documentation and evidence supporting key transactions.
  • Control design and implementation relevant to the agreed compliance objectives.
  • Documented findings and communication of exceptions within the agreed reporting arrangements.

The client outcome

Greater visibility of compliance gaps, control weaknesses and areas requiring management attention—within the agreed criteria and audit scope.

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Performance Audit

Performance audit examines selected activities, programmes or operations against defined objectives and criteria. The engagement scope determines which aspects of economy, efficiency and effectiveness are considered and what evidence can support the conclusions.

What the work may address

  • Use of resources and relevant operating costs.
  • Processes, controls and delivery against defined plans or objectives.
  • Performance information, measures and supporting records.
  • Causes of observed gaps, where evidence and scope support assessment.
  • Findings and recommendations aligned to the agreed objectives and reporting terms.

The client outcome

Evidence-based insight into selected performance questions to help responsible stakeholders understand findings and consider practical improvements.

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Choose the audit that answers the right question.

Looking for clear findings and practical recommendations?

Let us help you plan an audit that adds confidence.

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How risk-based audit works

Work is directed by assessed risk.

Our risk-based approach directs the nature, timing and extent of audit procedures towards the risks that matter most to each engagement.

Understand the entity

Consider the operating environment, governance, reporting framework, policies and controls.

Identify & rate risks

Consider inherent, control and fraud risks, including likelihood and possible magnitude.

Design responses

Choose appropriate tests, sampling, timing, resources and supervision for identified risks.

Evaluate & report

Gather and review evidence, address significant matters and support conclusions.

Audit procedures are not identical for every organisation. Scope, criteria, timetable, responsibilities, fees and reporting are agreed before the engagement begins.

Work is directed by assessed risk.

Does your organisation have the independent assurance it needs?

Talk to our audit team about a risk-based engagement.

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Industries

Sector understanding supports better risk assessment.

We bring sector-aware thinking to each engagement. Audit procedures are tailored to the entity, its assessed risks and the agreed engagement objectives.

Banking & MicrofinanceLoan portfolios, interest and controls
Insurance & PensionsReporting balances and regulatory context
Real EstateProperty assets, rental income and costs
Government & RevenueAccountability and compliance
Tourism & HospitalityBookings, deposits and seasonal revenue
Horticulture & AgricultureHarvest, inventory and export records
Mining & ConstructionEquipment, projects and capital costs
EducationFees, payroll and expenditure
NGOs & HealthcareFunding, project and operating records
TransportFleet, fuel and trip revenue
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