A well-conducted audit can provide business owners with valuable information and assurance that statements are fairly presented. At TAC Associates, we view the audit process as an opportunity for our clients to learn more about their businesses so that they are better equipped to communicate with banks, investors and partners, etc. We provide our clients with an objective presentation of their financial information as well as qualified advice and observations.

The prime objective of statutory audits by independent auditors is to express overall opinion on whether the financial statements present fairly the financial position of the entity audited as at the balance sheet date and the results of operations for the related accounting period and to reflect this opinion in the report of the auditors.

Tanzania Audit Corporation, the predecessor of TAC ASSOCIATES had been providing audit services in the country for over thirty five years before it was privatized. The long experience in providing audit service has enabled the firm to develop methodologies and audit procedures which are congruent with local and internationally accepted standards. Among other things, we conduct an in-depth understanding of our clients’ businesses and the industrial sectors in which their companies operate. The in-depth knowledge about our clients’ businesses enables us to develop appropriate audit strategies and plans which are both simple and cost effective.

Management Audit Reports

Apart from issuing auditors reports expressing opinion on the reliability of financial statements, we aim at reporting to the Management and Board of Directors or any other authority which has appointed our Firm as their auditors, significant anomalies which come to light in the course of the audits. We also provide considered recommendations on how to rectify the anomalies noted and suggest improvement in other areas in order for the entities involved to enhance profit levels and remain competitive in the market place. We also conduct special investigative audits on request by clients.

Information Communication Technology (ICT)

The business environment is changing fast and businesses at times have concerns with their systems which may arise from the cost of ICT implementation, the service levels that are achieved, security and relevance to expected output and support to the business. The ICT audit services will help our client in the following aspects:-

• Assess the health of installed information systems,
• Ensure that information systems effectively support business objectives,
• Ensure efficient use of people, time and money,
• Ensure that information resources are targeted for maximum returns,
• Ensure that critical processes are automated to the extent possible,
• Ensure that proper management of information security is in place.