Audit

We understand your need for real-time financial information and the importance of using that information with confidence.

Our audits are carried out in accordance with International Auditing Standards, in order to comply with International Financial Reporting Standards (IFRS), including complying with ethical requirements relating to audit engagements and planning, and to obtain reasonable assurance against material misstatement.

We apply risk appraisal techniques to ensure that our resources and attention are focused on the areas that matter the most. We go beyond delivering independent financial statement audits to provide you with constructive feedback for improving internal controls, financial systems and procedures in your business.

With our complete independence and zero-conflict philosophy, we guarantee you a credible and high-quality auditing service. Our team has proven and unparalleled experience across a wide range of business sectors, including banking and insurance, wholesale and retail, hotels and tourism, charitable associations, project audits and non-government organisations.

Whether your audit is a statutory requirement or requested for a special purpose, our team is committed to delivering you with our high level of service and expertise.

Whether you require an audit for statutory reporting or other purposes, our team can provide you with accurate, high quality and cost-effective audit and assurance services regardless of your businesses’ size, operations or location.

Our audits are conducted in accordance with International Standards on Auditing, applicable International Financial Reporting Standards, relevant statutory requirements and other applicable professional standards so you can have confidence in our professional auditing services.

We apply risk appraisal techniques to ensure that our resources and, most importantly, our audit attention are primarily directed at the issues and areas that matter for you.

We are experienced in conducting audits for a wide range of businesses, including:

  • local companies, including financial institutions;
  • state owned enterprises;
  • non-government organisations and charitable organisations;
  • international companies, including international banks and insurers; and
  • financial dealers in securities.

We can provide an independent review of your organisation’s internal financial controls and regulatory compliance to add value and improve existing financial controls for your organisation.

Reporting to senior management, we identify and analyse inefficiencies in operational functions and processes and make best-practice recommendations to improve your procedures. We also review procedures in relation to their bearing on risk areas of the organisation as a whole.

Our internal audit report includes discussions, recommendations, management responses and follow up actions to ensure that your internal control processes are operating more efficiently.

The Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) legislation sets out the main framework and criteria that businesses and professions deemed as “reporting entities” are obliged to implement and comply with.

This includes the obligation to engage an external auditor to provide an independent review of the organisation’s AML and CTF processes, procedures, and systems with recommendations for improvement.

Law Partner’s experienced audit team can assist you with ensuring you meet your statutory obligations, including assistance with developing your Procedures Manual, which is a compulsory requirement. We also update Procedures Manuals to take into account new and emerging risks.

For domestic and international Banks our external audit services includes providing our professional opinion to the Reserve Bank of Vanuatu (RBV) on your:

  • compliance with the prudential standards and statutory requirements (imposed by the Reserve Bank); and
  • the accuracy of the statistical and financial data provided by your Bank to RBV.

Special purpose audits and review engagements are opportunities to get assurance on specific aspects of your business. Our review engagements are carried out in accordance with the International Standard on Review Engagements.

Our services include planning and performing your review to obtain assurance that your businesses’ financial statements are free of material misstatement.  A review is focused on inquiries of company personnel and analytical procedures applied to financial data, and not as comprehensive as a full scope audit which gives greater assurance.

Celebrating over 50 years of operating in Vanuatu