Audit Services

Home Audit Services

  • Audit Assurance

We are committed to delivering high quality audit services designed to deliver real value and meet investor’s expectation which begins with completeness, accuracy and fair presentation of information in your financial statements and disclosures.
We approach your audit with a deep and broad understanding of your business, the industry in which you operate, and the latest regulatory standards.Because we work as a team on-site and off-site we share views and ideas, this has helped in building a formidable team of experts with wide range of experience able to proffer solutions to the most complex audit issues. Our clients are happy with our prompt and professional advices and responses to issues arising during audit.

The quality of our audit services is supported with our technology tool which has aided our personnel in working smarter resulting in quality audit time being saved. Our audit process is automated, with our tool producing audit documentations as required by International Standards on Audit. Our workflows are customized to specific industry allowing us to focus on industry specific requirements related to our client’s business.
Our audit documentations and files are prepared with practice review consciousness, this has been made possible with our advanced and secure technology tools. We take conscious steps to ensure that conflict of interest are well managed. Our client-Audit feedback process allows us to solicit feedback from our client on the overall quality of our audit services.

Click here to read about Our Audit Methodology

  • Financial reporting review

The objective of our review engagement is to enable us to state whether, on the basis of procedures which do not provide all the evidence that would be required in an audit, anything has come to our attention that causes us to believe that the financial statements are not prepared, in all material respects, in accordance with an applicable financial reporting framework. 

  • Agreed upon procedures

Our procedures, unlike others we believe not a single cap can fit all heads.That is why we employ variety of mean to different ends. Our procedures are design to suit different industrial needs. Since our clients are going to be from various sector of the economy, we design our procedures with different module for different client.
Our client engage us to carry out those procedures of an audit nature to which we and the entity and any appropriate third parties have agreed and to report on factual findings. The recipients of the report form their own conclusions from the report by the auditor.  
The report is restricted to those parties that have agreed to the procedures to be performed since others, unaware of the reasons for the procedures may misinterpret the results.

Audit Services

Enhancing the Reliability of Financial Reporting

Internal Control over Financial Reporting (ICFR) is a fundamental component of sound corporate governance for Public Interest Entities (PIEs). It provides reasonable assurance that financial transactions are accurately recorded, authorized, and reported in accordance with applicable accounting standards and regulatory requirements. By embedding effective preventive and detective controls throughout financial processes, ICFR strengthens the integrity, completeness, and accuracy of financial statements, thereby reducing the risk of material misstatements arising from error or fraud.

Driving Investor Confidence and Stakeholder Trust

Reliable financial reporting is critical to maintaining the confidence of investors, regulators, creditors, and other stakeholders. An effective ICFR framework demonstrates management's commitment to transparency, accountability, and financial discipline. This enhances the credibility of published financial information, supports informed decision-making by capital market participants, and reinforces the reputation of PIEs as responsible stewards of public and shareholder resources

Mitigating Regulatory and Compliance Risk

Given the heightened regulatory oversight applicable to Public Interest Entities, robust ICFR plays a vital role in ensuring compliance with financial reporting obligations and governance requirements. Well-designed and effectively operating controls enable organizations to identify and address deficiencies proactively, reduce the likelihood of regulatory breaches, financial penalties, and reputational damage, and support timely remediation where control weaknesses are identified. Ultimately, a strong ICFR framework promotes operational resilience, strengthens governance, and contributes to the long-term sustainability of the organization.

Navigating Nigeria's ICFR Requirements

The Financial Reporting Council (FRC) of Nigeria issued the Guidance on Management Report on Internal Control over Financial Reporting (ICFR) in November 2022, pursuant to Section 7(2)(f) of the Financial Reporting Council of Nigeria Act, 2011 (as amended). The Guidance introduced mandatory annual management assessment and reporting on the effectiveness of Internal Control over Financial Reporting for Public Interest Entities (PIEs), with independent auditor attestation.

CategoryMandatory ICFR Reporting Timeline
Public CompaniesEffective for annual reports beginning 31 December 2023
Other Public Interest Entities (Private PIEs)Effective for annual reports ending on or after 31 December 2024
Government/Public Sector AgenciesOriginally effective for 31 December 2024, with a one-year waiver granted by the FRC. Mandatory submission now applies to 2025 audited financial statements filed in 2026.

How PML Professional Services Supports Your Organization

PML Professional Services provides end-to-end ICFR advisory, implementation, and review services designed to help Public Interest Entities achieve sustainable compliance while strengthening financial governance. Leveraging deep expertise in governance, risk management, internal controls, and financial reporting, our team works collaboratively with management to build an efficient and risk-based ICFR framework aligned with regulatory expectations and internationally recognized leading practices.

Our ICFR service offerings include:

At PML Professional Services, we recognize that ICFR compliance extends beyond meeting regulatory requirements, it is an opportunity to strengthen governance, enhance operational discipline, improve investor confidence, and establish a resilient financial reporting environment capable of supporting long-term organizational growth.

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