COMPANY PROFILE

BACKGROUND

Martin Onyenmuru and Co is a Chartered Accountants firm registered with the Corporate Affairs Commission under the Business Name Registration with Registration No. 931216, the firm was registered on the 11th October, 1995 to do the business of Chartered Accountants as Auditors, Tax Advisers, Management, Industrial and Financial Consultants, Executors and Arbitrators. The corporate head office is at No. 69 Ogui road, Enugu.

Martin Onyenmuru & Co (Chartered Accountants) established in 1995 has experienced tremendous growth in terms of clientele, partnership, staff development and general office infrastructures. The firm is currently a member of the Public Practice Section of the Institute of Chartered Accountants of Nigeria. The partners have a wide range of auditing experience which include auditing of tertiary institutions, World Back Assisted projects and State Government Parastatals and institutions, Community Banks, Insurance Companies and various reputable medium sized Private Limited Liability Companies.

OUR MISSION

Our mission is to develop a well positioned audit firm capable of joining the big time audit firms affiliated to foreign international audit firms through “Clients’ Satisfaction with high level of professional integrity and skill development,” enhanced partnership engagements, staff development and the use of modern Computer Assisted Audit software.

OUR EXPERIENCE

We offer comprehensive management support and business advisory services, which are entirely independent, impartial and are based on a high level of technical skill and experiences. Our staff are carefully selected and specially trained to be dedicated, technically sound, polite, independent-minded and conscientious. It is our policy to keep confidential, all information we obtain for each and every assignment we perform.

OUR AUDIT PHILOSOPHY, APPROACH AND METHODOLOGY

At the most basic, the relationship a client has with us will enable us provide an opinion on the financial statements. We go further as we see a direct link between our appointment and the role we play in adding value to the client’s business. We believe that an effective audit is based on a sound understanding of client’s operations and the way in which the client wish to develop. This understanding enables us to design an audit approach that addresses the real risks in business. It also ensures that we provide constructive feedback and industry oriented recommendations.

A HIGH QUALITY AUDIT:
We are committed to being our client’s business partners and our foremost responsibility is to ensure a high quality and efficient audit. We ensure that:

We have a partner led team approach and deliver professional service by using trained and experienced chartered accountants.
We offer timely and reliable service, planning our work in conjunction with client’s deadline requirements.
We act with independence and objectively in providing feedback regarding the financial status of our clients’ establishment.

EFFICIENCY AND FOCUS:
Our audit approach focuses on major risk areas, taking management’s needs into account. We achieve this by:

Ensuring minimum disruption of work.
Focusing on up-front planning, we tailor our approach by obtaining our in-depth knowledge of our client’s business through meetings with key officer before commencement.
We work closely with executive and operational management to determine key areas, which could result in material error occurring in the annual financial statements.
Prior to commencement of fieldwork, we also, in conjunction with clients’ top management, identify the critical audit risk areas and other management concerns. These will then be documented, for incorporation into the audit plan.
Adapting our audit to address the risks facing the client, for example the risk of inaccuracies.

RISK-BASED AUDIT METHODOLOGY

We tailor all our audits to meet the specific needs of each client, an approach which demands a thorough understanding of our clients’ operation and a detailed analysis of the significant audit areas. Our lead client service partner therefore keeps in close touch with top management of our client to identify issues and plan our services. This will ensure that we take full account of any changes in our clients’ requirement and priorities. Risk assessment takes place at the initial planning state and is discussed and verified with our client before our planning stage and is discussed and verified with our client before our work commences. We correlate the level of detailed testing directly to the relative risk of each audit area. This results in a more focused and more efficient audit. To perform the precise level of testing required, we make use of the most advanced auditing techniques and technology.