Audit Services in Kenya
An audit isn’t just about checking numbers—it’s about identifying risks, improving efficiency, and ensuring financial security. In Kenya’s dynamic business environment, many companies in Kenya face challenges such as:
- High risk of financial fraud due to weak controls.
- Regulatory non-compliance, leading to KRA audits and penalties.
- Operational inefficiencies affecting profitability and growth.
An effective audit can prevent financial losses and ensure smooth business operations.
The Consequences of Weak Audits
Without proper audits, businesses expose themselves to serious risks.
- Increased Fraud & Financial Losses – Weak controls allow fraudulent activities to go unnoticed.
- Regulatory Non-Compliance – Poor financial management can lead to KRA penalties and legal issues.
- Operational Inefficiencies – Without an audit, businesses may lose money due to poor processes.
- Reputation Damage – A single financial scandal can harm customer and investor confidence.
The best way to avoid these risks? Regular audits.
How Audits Help Prevent KRA Tax Audits
Did you know that poor audits can increase the risk of a KRA audit?
Here are some common triggers for KRA audits and how audits help businesses stay compliant:
- Ensuring tax returns and financial statements are accurate and align with KRA requirements.
- Identifying potential risk areas before they attract regulatory scrutiny.
- Strengthening financial controls to prevent errors, fraud, and non-compliance.
How Frankbridge Advisory Limited Can Help Strengthen Your Controls
At Frankbridge Advisory Limited, we help businesses in Kenya enhance financial integrity, minimize risks, and ensure full compliance with regulatory requirements. Our audit services go beyond routine checks—we conduct in-depth evaluations to improve financial processes and safeguard businesses from costly errors or fraud.
Here’s how we help:
- Business process audits – Analyzing operational workflows, financial transactions, and controls to identify inefficiencies and areas for improvement.
- Regulatory compliance audits – Ensuring alignment with KRA tax laws, IFRS reporting standards, and other local financial regulations.
- Fraud detection & risk assessments – Investigating financial records and transactions to detect irregularities and mitigate potential fraud risks.
- Internal controls evaluation – Assessing approval processes, segregation of duties, and system access controls to enhance financial security.
An In-Depth Look at Our Audit Services
Business Process and Financial Reviews
We conduct comprehensive audits of financial statements, controls, and operational processes to help businesses:
- Analyze financial statements by reviewing balance sheets, income statements, and cash flow records for accuracy and reliability.
- Identify control weaknesses that may lead to misstatements, inefficiencies, or financial risks.
- Enhance reporting accuracy to ensure compliance with IFRS and other industry-specific financial reporting standards.
- Optimize business processes by streamlining operations to reduce unnecessary costs and enhance efficiency.
Compliance and Regulatory Audits
Kenyan businesses must adhere to strict financial regulations set by KRA, ICPAK, and other governing bodies. Our audits ensure:
- Proper tax filings by verifying VAT, PAYE, corporate tax, and other statutory obligations to prevent penalties.
- Regulatory adherence by reviewing financial reporting and record-keeping practices to ensure full compliance with Kenyan tax and business laws.
- Risk mitigation by identifying areas of non-compliance before they attract regulatory scrutiny.
- Audit preparedness by helping businesses organize records to avoid issues in case of a KRA tax audit.
Fraud Risk and Prevention Audits
Fraud can cause serious financial losses and reputational damage. Our fraud risk assessments help businesses:
- Detect irregular transactions by identifying fraudulent activity, unauthorized payments, and suspicious accounting practices.
- Strengthen financial controls by implementing checks such as segregation of duties, approval hierarchies, and transaction monitoring.
- Reduce exposure to financial fraud by developing proactive strategies to safeguard business assets and prevent mismanagement.
- Enhance staff fraud awareness by training employees on fraud detection and ethical financial practices.
Why Choose Frankbridge Advisory Limited?
At Frankbridge Advisory Limited, we don’t just identify problems—we help businesses take actionable steps to strengthen financial controls, improve efficiency, and stay fully compliant. We will help your business build a secure financial future with:
- Deep understanding of Kenyan regulations
- Proactive risk management
- Tailored audit solutions
The Frankbridge Advisory Limited Audit Process
- Audit planning
- Financial review
- Internal controls testing
- Regulatory compliance checks
- Fraud and risk assessment
- Audit report and recommendations
- Implementation support
Note: The duration and cost of an audit depend on factors such as business size, industry, financial complexity, and the scope of the audit. Contact Frankbridge Advisory Limited for a tailored consultation.
Get in Touch with Us Now for Your Audit Needs!
By partnering with us for regular audits, you will:
- Maintain accurate financial records, ensuring transparency and compliance.
- Avoid KRA audits and penalties by staying ahead of regulatory requirements.
- Detect and prevent fraud early, protecting your business from financial losses.
- Improve investor confidence and strengthen your business credibility.
- Enhance operational efficiency with stronger internal controls.
Let’s help you safeguard your business with expert audit services. Contact us today!
Frequently Asked Questions on Audits in Kenya
What is the difference between an audit and an internal audit, and which one does my business need?
How often should my business conduct an audit?
Is an audit mandatory for all businesses in Kenya?
How does an audit help prevent a KRA tax audit?
What is the cost of an audit in Kenya?
The cost of an audit depends on factors such as business size, industry, and the complexity of financial transactions. Contact Frankbridge Advisory Limited for a customized quote based on your specific needs.
How long does an audit take?
What documents are required for an audit in Kenya?
How can Frankbridge Advisory Limited help with my audit needs?
Get in Touch with Us Now for Your Audit Needs!
