Audit is an integral function in any functional economy which relates to financial reporting and risk management. It gives your businesses the comfort they need to focus on growth and achievement of business objectives.
For any business to be able to make concrete decisions, you need to be sure you are acting on reliable information. You need to be aware of the risks that affects your business and how to mitigate them effectively. Audit encompasses the review of an organizations’ and individuals’ financial statements by an independent, qualified person and issuance of an opinion. Audit includes the review of the underlying systems and controls, and ascertain that they are effective and they comply with legal and regulatory requirements.
Our audit team leverages on the robust training, knowledge and experience gained across all industries to provide shareholders with independent opinions on the performance of the companies they have invested in.
Tribunal Declines Jurisdiction Over Late-Filed Tax Appeal The Appellant taxpayer, an employee of the World Health Organization (WHO), challenged an income tax assessment issued by the Kenya Revenue Authority (KRA). The assessment covered income tax for the years 2018–2020, amounting to KES 39,799,180. He objected, arguing that his salary and emoluments from WHO were tax-exempt under various international agreements,
In the world of financial auditing, the concept of audit risk is foundational. It represents the possibility that an auditor might issue an incorrect opinion on a set of financial statements, failing to identify material misstatements
International Accounting Standard Board (IASB) issued amendments concerning requirements for sale and leaseback transactions in IFRS 16. It explains how a seller-lessee accounts for a sale and leaseback after the date of the transaction
Withholding income tax is a tax deducted by a person making specific payments prior to paying the amount due and then remits the tax so deducted to the Kenya Revenue Authority within 5 working days after the deduction is made.
While it may seem paradoxical, businesses should be exploring the potential of transformation to improve their performance and capacities during difficult economic times. We provide insight to the difficulties that African Businesses within the eastern and central Africa face in establishing operational resilience.
The Kenya Revenue Authority (KRA) through its public notice issued on 31 July 2024 informed taxpayers of its ongoing exercise of migrating legacy balances for Value Added Tax (VAT) and Income Tax onto the iTax system.
The Kenya Revenue Authority (KRA) issued a technical circular on April 4, 2024, to provide clarity on their interpretation of Section 5(4)(f) of the Income Tax Act (ITA), which deals with the taxation of meal benefits for employees.
In the world of financial auditing, the concept of audit risk is foundational. It represents the possibility that an auditor might issue an incorrect opinion on a set of financial statements, failing to identify material misstatements.
