OUR SERVICES
At CMK, our greatest strength is understanding our clients’ strategic needs, which leads us to be the top accounting firms in Tanzania. With an unwavering commitment to excellence, we offer high-quality auditing and accounting services in Tanzania.
Verifying Expenditure
- Examine the supporting documents for the reported expenditure, including evidence of receipt of goods and services;
- Confirm that expenditure are in line with approved budget /work plan; and
- Review to ensure expenditure have been authorized by responsible officials.
Completeness and Accuracy of reported Fund balance at period end
- Obtain direct confirmation from banks and verify cash on hand; and
- Review monthly bank reconciliation statements and check for approval by responsible official.
Compliance with the laws and regulations (i.e. Income Tax Act, NSSF/PPF Act, VAT Act) and applicable procurement rules and regulation stipulated in the funding agreement.
- Verify whether statutory deductions (i.e. PAYE tax, NSSF/PPF contribution) have been calculated in accordance with the requirements of Income tax Act and have been timely remitted to the respective authorities;
- Verify that the organization has complied with the respective provisions of Income Tax Act applicable to Non-Governmental Organizations; and
- Crosscheck the accounting entries for statutory deduction including accrued payments in the books of accounts
Reasonability of costs
- Verify reasonability of costs by comparing the cost with the acceptable benchmark and other collaborative evidence.
- Quantifying the costs in relation to budget lines and approved expenditures
- Reviewing the cashbooks and bank reconciliation statements
- Reviewing and verifying the posting procedures in respective ledger
Financial Reporting
- Reviewing the preparation of the trial balance during the period
- Checking the balances in respective ledgers at the end of the period
- Producing the draft financial statements in accordance to the generally accepted accounting principles
- Completion of the accounting reports ready for presentation to auditors