We share our clients’ objectives of credibility and transparency in financial reporting. Each of our professionals is committed to delivering reliable, independent audit reports.

Fulfilling this commitment to maintain high audit quality requires vigilance in making sure our audit complies with changing regulations and the professional standards. Evidence of our commitment is clear: KPMG has been an early adopter of many of the rules developed to rebuild confidence in financial reporting. The KPMG Audit Methodology (KAM) is our effective audit methodology that facilitates and enhances audit quality. It meets our goal of delivering quality, independent, rigorous audits. The Chart below shows selected key activities performed in a KPMG Audit.

• Perform risk assessment procedures and identify risks
• Determine audit strategy and identify critical accounting matters
• Determine planned audit approach

• Understand accounting and reporting activities
• Evaluate design and implementation of selected controls
• Test operating effectiveness of selected controls
• Assess control risk and risk of significant misstatement

• Plan substantive procedures
• Perform substantive procedures
• Consider if audit evidence is sufficient and appropriate
• Conclude on critical accounting matters

• Perform completion procedures
• Perform overall evaluation of the financial statement and disclosures
• Form an audit opinion

For further information contact:
Tola Adeyemi
e-Mail address:tola.adeyemi@ng.kpmg.com