ASSIGNMENT:
Annual Financial audit for the financial year ended June 2014
| ADDRESS:Iganga | DURATION:Approx. One and half months |
| COUNTRY: Uganda | LOCATION: Jinja District Namasagali Road |
| STAFFING:
– Tusimiire Gad Z – Joseph Mukasa Kiseka – Magara Ezra – Mwebesa Silver – Serwada John |
START DATE: COMPLETION DATE:
July 2014 August –Sep 2014
NAME OF SENIOR STAFF INVOLVED:
Tusiimire Gad Z (Engagement Partner), Kisekka Joseph Mukasa (Audit Manager), Ezra Magara (Audit Senior)
NARRATIVE DESCRIPTION OF PROJECT/CLIENT:
International institute of health sciences was founded by a group of doctors Headed by Prof Kezala Wiliston in 1995
It is a medical school teaching Comprehensive nursing and Midwifery. It has also started a diploma and degree programme
It was licenced by Min of Education and sports and National Council for higher Education. It has approx. 1230students.
DESCRIPTION OF SERVICES PROVIDED:
Audit of financial statements for the year ended 30 June 2014 and mainly carried out the following tasks:
Reviewed the financial statements, budgets, revenues and expenditure reports; Assessed compliance with the applicable regulatory framework; organisations’ internal control structure and capability to properly identify and account for relevant Revenue, Expenditure and other assets in accordance with the Financial and Accounting Regulations; Reviewed other relevant laws and regulations, which if not observed could have material effect on the financial statements; Confirmed whether revenue and expenditure were handled as required; Ascertained whether the Assets were safeguarded and records properly maintained in accordance with Financial and Accounting Regulations, and other applicable standards / guidelines; Carried out audit tests / procedures to provide reasonable assurance in detection of errors, irregularities and illegal / non-compliance acts that could have a material direct or indirect effect on financial statement amounts; Checked if goods and services were procured in accordance with the’ Public Procurement and Disposal of Public Assets Regulations / guidelines, work plans and budgets; Reviewed records and other information relating to revenue and expenditure and determine whether allowable, collectable, allocated, reasonable, valid and accurate; Checked if Grants were received and used in accordance with agreed terms and conditions, and for the purposes for which the funds were provided; Established the existence of all appropriate documents for revenue and expenses and whether the transactions and records were in accordance with the Relevant laws and other applicable laws, regulations and guidelines.