The flow of new rules and regulations across regional, national and international borders continues to increase. No matter how large, small or diversified an organization is, almost every part of it is touched by a complex web of constantly developing regulations—and subject to enforcement measures and penalties. Not to mention reputational risk.
It’s no wonder that boards of directors in their meetings are more focused on managing risk than ever before.
Regulatory audit is not just about satisfying regulators. It offers an opportunity to consistently strengthen your organisation through strategic, proactive measures—such as best practices, employee training, internal controls, and benchmarking appropriate for your industry and size.
Regulatory audits are designed to assess whether the operations (financial and non-financials) of companies have been executed in compliance with the laid down rules and guidelines in the industry and the financial statements present a true and fair representation of the activities of the companies.
Regulatory audits include but are not limited to financial statements audit. A major role of the auditor is to participate in the prudential supervision exercised by the regulatory bodies. Additional involvement may also be requested to answer specific needs.
BVS has the technical skill and capacity to deliver quality, independent and transparent report. Having practiced in the Nigerian Arena for many years, we have in depth understanding of most regulatory issues as it pertains to different industries. Our staffs are trained to ensure compliance with professional standards, as well as optimise value for your organisation and your stakeholders.