Audit & Assurance
Auditing is not a static process and we recognise the need to offer our clients the best possible range of compliance and advisory services. We therefore ensure the continual development and enhancement of our range of audit services.
The SDVM audit approach is thus based upon an extensively researched common methodology that centres around:
- Obtaining an understanding of the business being audited from an internal and external point of view.
- Assessing the risk of material misstatements, and the controls in place to address those risks
- Choosing appropriate procedures to obtain evidence of the significant financial statement assertions.
- Ensuring rigorous quality control over audit performance. In a world of increasing technical requirements, SDVM is committed to keeping clients one step ahead.
SDVM call upon a number of practice aids, including model disclosure checklists and financial statements, to enable clients to prepare financial statements under International Financial Reporting Standards. SDVM has combined its global awareness with local know-how to assist clients to fully comply with International Financial Reporting Standards. We are always locally relevant.
International Financial Reporting Standards (IFRS)
IFRS News is SDVM’s regular update on what’s just arrived in the world of IFRS. On this page, you’ll find daily reporting of IFRS developments, including exposure drafts, standards and interpretations issued.
IT Audit
Our IT auditors examine and evaluate your organization’s information technology infrastructure, policies and operations. Information technology Audits determine whether IT controls protect corporate assets, ensure data integrity and are aligned with the business’s overall goals.
For whatever reason you are embarking on your next stage of your business, trust us to find a way that suits your needs.
- IT External Audit
We can assist you with the following under our core areas of business:
- Information technology general control reviews
- Application control reviews.
- Identification of relevant risks that have a bearing on the audit.
- Identification of specific procedures to address audit related risks.
- Computer Aided Audit Techniques (CAATs)
- IT Internal Audit
Our internal audit IT services includes:
- Audit planning
- Provision of skilled personnel
- Continuous monitoring
- Application Controls Review
Application controls are those controls that pertain to the scope of individual processes or application systems in use. Application systems range from very small to Enterprise Resource Planning (ERP) systems. Our IT Auditors assesses application controls which include:
- Inherent controls: The controls are delivered with the application and do not need to be added to it.
- Configurable controls: These are automated controls to be defined at the time of system/application configuration.
- Security controls: Which are generally user access, segregation of duties controls, roles and process rules.
- Reporting controls: Are those that rely on standard or ad-hoc reports from the application.
- Work flow controls which are used to notify application users that a transaction or process is awaiting their action.
- Automated computations: These are part of the source code and help preclude mathematical errors.
- Validation checks: These controls are used to help assure data accuracy by preventing typos, mis-classifications, etc.
- Segregation of Duties Audit
In cases of complex, multi-system environments, ERP systems and maintenance of access rights and user roles can be a big challenge. This increases the likelihood and occurrence of inappropriate authorization settings thereby posing risks of inappropriate access and fraud. We help you design and implement access roles that minimise the associated risks while making continuous administration and maintenance effective and reliable.
