In recent years I&N has identified a need for an audit over and above the accounting audits carried out by accountants to determine the financial health of an institution. The Legal Audit has been seen as a less costly mode of litigation avoidance as it proactively identifies various potential risk areas. With a proper legal audit firms/business/state bodies can have a contingent plan on how to avoid possible litigation as well as costly fines for non-compliance with various statutory bodies especially in regulated industries such as Banking, Insurance and Telecoms just to name a few.
According to the corporate governance code developed for public institution known as “Mwongozo”, public bodies are required to carry out legal audits at least every two (2) years.
Our Audits covers various areas such as evaluation of contracts in place, statutory compliance check, employee risk management, litigation review, preparation of service level agreements, post audit recommendations and the set-up of legal internal audit processes and systems.