Assurance
Our assurance services are designed to provide independent confidence in financial information, systems, and controls. Whether the requirement arises from statute, donor conditions, governance needs, or operational risk, we approach each engagement with professional judgement, independence, and attention to detail. The objective is not only to meet formal requirements, but to give stakeholders clarity they can rely on and insights that support sound decision-making.
Statutory Audit
Statutory audits are a legal requirement, but they should also make sense to the people running the business. At MSM Chris & Associates, we carry out statutory audits with one clear objective: to give directors, shareholders, and other stakeholders confidence in the numbers they rely on.
We take time to understand how your organisation operates — not just what the figures say, but how they are produced. This allows us to form an independent opinion on the financial statements while also identifying weaknesses in controls, reporting processes, and financial discipline. Our approach is structured, practical, and proportionate to the size and complexity of your organisation. We do not overcomplicate the process, and we do not treat audits as a box-ticking exercise.
What you can expect from us
- An independent audit opinion issued in accordance with applicable statutory and professional standards
- Early identification of accounting and compliance issues
- Practical observations on internal controls and financial processes
- Clear communication with management and those charged with governance
We value independence, professional judgement, and clear reporting. Our audits are planned and executed with care, and our findings are discussed openly with management. The result is an audit that meets statutory requirements and adds value where it matters.
Internal Audit
Internal audit should help management see what is really working — and what is not — before problems arise. At MSM Chris & Associates, our internal audit work is focused on strengthening controls, improving processes, and supporting management in meeting their responsibilities. We approach each engagement with an understanding that no two organisations operate the same way.
We take time to understand your systems, workflows, and decision-making structures. Our work is risk-based and targeted, concentrating on areas that matter most to your operations, financial reporting, and compliance environment. Internal audit, when done properly, should be practical and constructive. Our role is not to police, but to provide independent insight and recommendations that management can realistically implement.
Our Internal Audit Services Include
- Review and evaluation of internal control systems
- Risk assessment and risk management reviews
- Process and operational audits
- Compliance reviews with internal policies and regulatory requirements
- Follow-up reviews on implementation of agreed actions
How We Add Value
- We focus on root causes, not just symptoms
- Our findings are clearly explained and prioritised
- Recommendations are practical and aligned to your organisation’s capacity
- Reports are written for management, not just for filing
We work independently, communicate openly, and engage constructively with management. Our aim is to support better control, better reporting, and better decision-making.
Forensic Audit
Forensic audits are rarely routine. They arise when there are concerns, unanswered questions, or the need for clarity around specific transactions or events. At MSM Chris & Associates, we conduct forensic audits with discretion, independence, and attention to detail. Our focus is on establishing facts, understanding what happened, and presenting our findings clearly and objectively.
We approach forensic work methodically. This includes reviewing financial records, transactions, supporting documentation, and internal controls, while remaining mindful of the legal, reputational, and operational implications involved. Our role is not to speculate or sensationalise, but to provide a professional, evidence-based assessment that management, boards, or other stakeholders can rely on.
Our Forensic Audit Services Cover
- Investigation of suspected fraud or financial irregularities
- Review of specific transactions or contracts
- Misappropriation of assets and expense abuse reviews
- Conflict of interest and related party transaction reviews
- Support in dispute, disciplinary, or regulatory matters
Our forensic reports are structured, factual, and written to withstand scrutiny. Where appropriate, we provide practical recommendations to strengthen controls and reduce the risk of recurrence. Forensic audits may be commissioned by boards, management, donors, regulators, or other stakeholders when there is a need for independent clarification or assurance.
Donor & Project Audit
Donor and project audits require a clear understanding of funding agreements, approved budgets, and reporting obligations — not just the figures in the accounts. At MSM Chris & Associates, we carry out donor and project audits with a strong focus on compliance, accountability, and proper use of funds. Our work is guided by the specific terms of the grant or project agreement, as well as applicable professional standards.
We take time to understand the project objectives, funding conditions, implementation structure, and reporting framework. This allows us to assess whether funds have been applied for their intended purposes and in line with donor requirements. Our approach is structured, independent, and practical. We work closely with project teams to obtain the necessary information while maintaining professional scepticism and objectivity throughout the engagement.
Our Donor & Project Audit Services Cover
- Audits of donor-funded projects and programmes
- Verification of project income and expenditure against approved budgets
- Review of compliance with donor agreements and reporting conditions
- Assessment of internal controls over project funds
- Identification of ineligible or unsupported expenditures, where applicable
Our reports are clear, well-structured, and aligned to donor templates or agreed reporting formats. Where required, we issue management letters highlighting control weaknesses and practical recommendations.
ICT Audit
Information systems play a central role in financial reporting, operations, and decision-making. An ICT audit provides assurance that these systems are reliable, secure, and properly controlled. At MSM Chris & Associates, our ICT audit services focus on evaluating the controls, processes, and governance around information technology. We assess whether systems support business objectives, safeguard data, and produce information that can be relied upon.
Our work is risk-based and proportionate to the size and complexity of the organisation. We focus on areas that matter — system access, data integrity, change management, backups, and system continuity — rather than producing technical reports that offer little practical value.
Our ICT Audit Services Cover
- Review of IT general controls (access, change management, backups, and security)
- Assessment of system reliability and data integrity
- Evaluation of controls over financial and operational systems
- Review of user access rights and segregation of duties
- Business continuity and disaster recovery readiness
We begin by understanding the systems in use and how they support operations and reporting. Our findings are discussed with management to ensure accuracy and context before final reporting. Recommendations are practical and prioritised, taking into account existing resources, system limitations, and operational realities. Our ICT audit reports clearly outline identified risks, control gaps, and recommended actions. The objective is to support better system control, improved data reliability, and reduced operational risk.
Inventory Audit
Inventory often represents a significant investment and a key area of operational risk. An inventory audit provides assurance over the existence, valuation, and control of stock. At MSM Chris & Associates, we conduct inventory audits with a clear focus on accuracy, control, and accountability. Our work goes beyond counting stock — we look at how inventory is recorded, safeguarded, and managed.
We take time to understand the nature of the inventory, storage locations, movement processes, and record-keeping systems. This allows us to identify discrepancies, control weaknesses, and process gaps that can lead to losses or misstatements. Our approach is practical and evidence-based, designed to support both financial reporting and day-to-day operational control.
Our Inventory Audit Services Cover
- Physical verification of inventory at warehouses, stores, or project sites
- Reconciliation of physical counts to inventory records
- Review of inventory valuation methods and costing
- Assessment of controls over inventory movement and storage
- Identification of slow-moving, obsolete, or damaged stock
Inventory audits are carefully planned to minimise disruption to operations. Counts and reviews are conducted systematically, with clear documentation and agreed procedures. Findings are discussed with management to ensure clarity and to support timely corrective action. Our reports clearly set out discrepancies identified, control observations, and practical recommendations to improve inventory management and reporting.
Greg Mwanzia, CPA(k)
Head of Assurance, MSM Chris & Associates
Tel: +254 (0) 703 125 358
Email: audit@msmchris.co.ke
