The increased awareness in both the private and public sectors of the importance of good corporate governance, effective risk management and internal controls, has resulted in a rapid growth in the demand for quality Internal Audit, Corporate Governance Reviews as well as Risk and Compliance Services.

Nkonki’s internal audit department is geared to bring in the required skills, experience and capacity in co-sourcing with or outsourcing of an internal audit function. We draw on our firm’s wide specialist skills to bring a comprehensive solution to our clients. In addition to providing independent assurance on critical business processes, we strive to be strategic business advisors by focusing on continuous business improvement and assist you to achieve your business objectives. As a basic, Nkonki’s internal audit services provide assurance on Internal Financial Controls in order to assist our clients to comply with the requirements of King III.

We work with our clients’ management team and assist them by assessing the adequacy and monitoring the effectiveness of their internal controls; making recommendations on correcting deficiencies if necessary and providing an independent and valued opinion; assisting management in identifying the key strategic risks in their organisation; assessing whether they have the appropriate policies, procedures and processes in place to mitigate these risks, alerting management to areas where they are particularly at risk, and identifying opportunities to improve their levels of risk management.

In a fully outsourced internal audit function Nkonki performs all internal audit activities which include risk assessment, audit coverage plans, fieldwork, communication and reporting to management and audit committee on a recurring basis.

In co-sourced functions Nkonki increases the technical capacity of the client’s internal audit function and provides the necessary support to the Chief Audit Executive.

In some cases Nkonki can second staff full time to clients to ensure that they have adequate capacity and to augment existing internal audit functions. The clients have a choice of taking responsibility for supervision of staff and all aspects of tasks performed, or they can obtain the full benefits of outsourced internal audit with the benefit of full time seconded staff.

In some cases, and in line with the requirements of the King III report which requires evaluation of the effectiveness of the internal audit function quality assurance, Nkonki provides a comprehensive review of the overall effectiveness of an internal audit function including compliance with professional standards, effectiveness and efficiency of function activities, organisation, resource and skill capabilities, evaluation of stakeholder needs and fulfilment of those needs, and identification of strengths and improvement opportunities that strategically position the internal audit function for on-going success.

Nkonki also conducts audits of performance information as part of the internal audit function which, in the public sector, involves evaluating the performance of a government department or entity, against what it has been tasked to do and, where appropriate, includes recommendations on how its performance could be improved. While these audits are peculiar to the public sector, there is also an increasing need in the private sector for the internal audit function to conduct strategic reviews of business performance.

A formidable team of chartered accountants, certified internal auditors, certified financial services auditors and certified information systems auditors are responsible for the firm’s Internal Audit Services which include:-

  • Risk management consulting.
  • Risk assessments.
  • Developing internal audit coverage plans.
  • Control risk self assessments.
  • Quality assurance reviews.
  • Development of policy and procedure manuals.
  • Full range of co-sourcing options

Our internal audit clients are spread across diverse industries which include, financial services, medical aids, gambling, regulatory bodies, etc.

If you keen to understand more about Nkonki’s internal audit please contact This email address is being protected from spambots. You need JavaScript enabled to view it.