Special purpose audit
A special purpose audit is an audit engagement that is conducted for a specific purpose or objective other than expressing an opinion on the financial statements as a whole. The objective of a special purpose audit is usually to provide specific information or assurance about a particular aspect of an organisation's operations, financial performance, or compliance with regulatory requirements.
Some examples of special purpose audits include:
Compliance audits:
these audits are conducted to determine whether an organisation is complying with applicable laws, regulations, or contractual requirements.
Forensic audits:
these audits are conducted to investigate allegations of fraud or misconduct within an organisation.
Performance audits:
these audits are conducted to evaluate the effectiveness and efficiency of an organisation's operations or specific programmes.
Internal control audits:
these audits are conducted to evaluate the adequacy and effectiveness of an organisation's internal controls.
IT audits:
these audits are conducted to evaluate an organisation's information technology systems and controls.
The scope and procedures of a special-purpose audit will depend on the nature of the engagement/the specific objectives of the audit and these are conducted by our in house auditors/Chartered Accountants who have specialised knowledge and expertise in this specific area.