Level 3, Alexander House, 35 Cybercity, Ebene, Mauritius
Tel: (230) 403 0850 - Fax: (230) 403 0851
Email: info@bakertillmu.com
 
 
 
An independent audit is the foundation for decision-making in the capital markets. However, recent events mean that audits cannot be perceived as being routine, annual exercises merely required by statute. Stakeholders require responsible judgements from independent auditors, who will provide challenge to management. A professional knowledge of principles and business, as well as of the appropriate systems, processes and controls are also critical requirements.
Moreover, auditors’ judgements must be rooted in an in-depth understanding of each client’s industry value drivers, competitive positioning and marketplace practice.
Our professional commitment with our clients is continuous throughout the year and therefore we get to know our clients much more in depth, thus enabling us to gain valuable knowledge of them, which helps us to excel in our duties. As such, we are in an outstanding position to make observations and to recommend management on how to attain business objectives, improve profitability as well as enhancing operating and administrative controls.

Our audit focuses on business issues and the matters that can impact on the financial statements, whilst also retaining the basic audit procedures that test the information contained in the financial statements. Our approach is grounded in the market dynamics of our clients ensuring that our judgements are both relevant and insightful.
At Baker Tilly Mauritius we see the Audit as an opportunity rather than an overhead. Here are some key questions to which we provide answers:

  • Does my Audit help me to understand the financial performance of my business?
  • Does the Audit team understand my business?
  • Do I see different Audit teams every year?
  • Am I asked the same boring and irrelevant Audit questions every year?
  • Do I have regular meetings with my Client Service Partner?
  • Do I get unexpected additional charges?
  • Do I get value for money?
  • Why change Auditors?

Baker Tilly Mauritius also provides tailored Audit services for smaller growing businesses.

Whether your business is large or small, if you share our view that the annual Audit should be an opportunity not an overhead and would like to discuss our approach further.

Our objective is the timely completion of the audits and, upon their completion and subject to the findings, the rendering of our reports.
We determine the quality of our audit opinion through a powerful combination of professional integrity, independence and ethical behaviour, underpinned by rigorous quality control procedures. This approach is supported by some of the leading processes, technologies and tools that assist our teams to access knowledge, focus on the issues that impact on our audit judgements and improve the efficiency of the audit. The overall result is an independent and incisive view attesting the quality of the information provided.
At Baker Tilly Mauritius we see the Audit as an opportunity rather than an overhead. Here are some key questions to which we provide answers:
 
Does my Audit help me to understand the financial performance of my business?

We believe it should.

Baker Tilly Mauritius follows a risk-based analytical approach to its Audit Work as developed by Baker Tilly International. The risk-based approach is the audit by analysing the business in its entirely, focusing on those areas where the risk of error is greatest.

This approach minimises the time spent “ticking up” historical accounting records and maximises the time spent analysing financial performance.

As well as providing Audit evidence, this analysis can be used to:

  • Identify possible cost economies.
  • Plan for tax savings; and
  • Highlight potential growth opportunities.

At Baker Tilly Mauritius, we treat your audit as an opportunity – not an overhead.

Does The Audit Team Understand Your Business?

Of course they should.

If they do not, perhaps they are trying to adapt your business to their Audit methodology. Baker Tilly Mauritius knows that each Audit must adapt to the client’s circumstances, so we use a flexible Audit process which begins with our obtaining a complete understanding of your business.

We then plan our work to ensure it is focused on those areas which are key to your business and that our Audit staff do not perform tests which are of little or no relevance to those key areas.

Baker Tilly Mauritius’s Audit teams take a flexible approach based on a thorough understanding of your business.

Do you see different audit teams every year?

You should not.

We don’t like staff changes either but, of course, staff need to progress and do move on from time to time. However, this should not happen every year, and if it happens to you, perhaps your auditor does not regard your business as a high priority case.

At Baker Tilly Mauritius, we plan our Audits to ensure the greatest possible staff continuity, and you will not be faced with new people whom the Client Service Partner has not personally introduced, having first explained why we need to make the change.

We will build a stable, long-term relationship with you to ensure a smooth audit process, year after year.

Are you asked the same boring and irrelevant Audit questions every year?

You should not be.


Dealing with such questions wastes considerable management time (and, of course, adds to the Audit fee!) We hold a preliminary planning meeting with you to discuss the key changes which have occurred since our previous meeting.

We use this data to tailor our Audit to your business, making each annual Audit different, and every year we seek to provide something new and of value to you.

Your Baker Tilly Mauritius audit is designed to provide you with something fresh each year.
Do you have regular meetings with your client service partner?

You should.

Those meetings should be more frequent than once a year at the end of the Audit. The Client Service Partner should co-ordinate and take responsibility for all the service provided by your accountants.

At Baker Tilly Mauritius, tasks may be delegated to specialists, but your Client Service Partner is responsible for the quality of service you receive. We guarantee to give you a personal partner-led service (exactly the sort that your customers or clients expect from you).

If you are not enjoying that sort of service at present, perhaps the assignment partner does not regard you as a priority client.

We will build a personalised, partner led relationship to ensure you make the most of your Audit.

Do you get unexpected additional charges?

Why do you pay them?

How would your customers react if you sent them bills out of the blue? At Baker Tilly Mauritius we set out and agree our Terms of Business in writing before starting any assignment and we stick to pre-agreed fees.

If, for any reason, we become aware that our agreed fees are likely to be exceeded, we talk to you to take further instructions.

If the cost overrun is our fault, we will not seek to recover additional fees from you.

Baker Tilly Mauritius operates a transparent pricing policy, where the fees we agree for your Audit are the fees you pay.

Do you enjoy value for money?

You must.


Because our clients matter to us, Baker Tilly Mauritius does not offer a cheap, low quality service. If you were to decide to appoint Baker Tilly Mauritius as advisers to your business, you would not only receive a wide range of benefits, you would also have access to a full range of professional solutions of the high quality and commerciality you would expect from a firm of our size and repute.

We will deliver a high quality, value for money service you can rely on.


Why change auditors?

Many companies retain the same, solid advisers for 10, 20 or 30 years – so why change?


Here are some common factors that may influence the decision:

Expertise

  • To benchmark existing services and standards provided by your existing advisers.
  • A larger firm may have a greater depth of expertise across more areas of financial advice and business growth.
  • A different firm could have more experience of your industry and the issues affecting your business.

Culture & Team

  • Not all chartered accountancy firms are the same: they operate with different processes and have different cultures. Some businesses are looking for a firm of advisers who have a similar culture.
  • Quality time spent with the Audit partner is limited.
  • The Audit manager or partner you liked has left.
  • Audit staff change often: you might be looking for stability within the Audit team.
  • The rapport and relationship may be better at a different firm.
  • Loyalty to a previous firm of advisers or person.

Financial

  • To understand how different firms calculate fees, to ensure value for money.
  • To reduce the cost of the Audit by changing to another firm.
  • Because you have outgrown your current advisers – perhaps your company is growing faster than the limitations of present advisers and you need specialist growth advice.
  • The Audit fee increases annually for no apparent reason.

Operational

  • Geographical constraints.
  • To appoint the Parent / Group company’s own auditors
  • The international company has different advisers and is looking for a global adviser to all companies within the group.
  • You want to go with the new Managing Director’s / Financial Director’s own selection.

Whatever your reasons for changing, at Baker Tilly Mauritius you will receive an audit service delivered to excellent standards from a firm with reliability and flair.

 

 

 
 
 
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