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Our Audit Methodology
For us in FCK, a vital part of the plan is spent on selecting the right team to serve the client. Our team is selected on the basis of people who:
-Have experience in providing audit and consulting services;
-Are familiar with the issues faced by companies or organizations in the industry;
-Possess the range of skills and expertise necessary to deliver value to you;
-Have multidisciplinary experience in auditing business processes, IT systems;
- Are familiar with current developments in International Standards on Auditing and Internal Audit and Risk Management practices; -Are friendly, constructive and bring a problem solving approach to issues;

Our approach is based on using a 'core team’ principle to ensure continuity of staff on client assignments. What this approach offers is a team that: -Quickly develops an understanding of client’s business and operations;
-Is able to compare and share best practices;
-Follows consistent, transparent working practices that make the audit process easier for all involved;
-Can focus quickly on the issues important to client.

Pay As You Earn (PAYE)

Please find below a summary of the important payroll tax issued. PAYE tax deducted is paid to the Commissioner Domestic Direct Taxes 15 days after the end of the month to which the deductions relates. Employment income means any income derived by an employee from any employment and includes the following amounts, whether of revenue or capital nature; any wages, salary; leave pay, payment in lieu of leave, overtime pay, fees, commission, gratuity, onus or the amount of any traveling, entertainment, utilities, cost of living, disturbance allowance or any other allowance.

The value of any benefits in kind granted to an employee also construes a taxable benefit and    these     include but not exclusively the following:-

Housing allowance
The full amount of housing allowance is taxable on the recipient. If an employer provides to an employee accommodation or housing other than house allowances, the taxable benefit on the employee is the lesser of:-

the market rent of the accommodation or housing reduced by any payment made by the employee for the benefit; or fifteen per cent (15%) of the employment income, including the amount referred to in (a) above paid by the employer to the employee for the period in which the accommodation or housing was provided.

Please note that costs incurred by employers to house their employees are now tax deductible in the tax computation of the employer company.

Taxable benefits
Housekeeper, chauffeur, or other domestic assistants

The value of the benefit is the total employment income paid to the domestic assistants in respect of the services rendered to the employee, reduced by any payment made by the employee for the benefit.

Provision of utilities in respect of the employee’s residenceThe value of the benefit is the cost to the employer of providing the utilities reduced by any consideration paid by the employee for the utilities.

Quality control standards
Audit Procedures Manual
Comprehensive audit procedures manuals are used in FCK. The use of standardised audit procedures ensures that work is carried out in accordance with the outlined standards
Continuing Professional Education
FCK & Associates quality control standards stipulate that all staff under the supervision of the technical and training partner, a pertinent CPE programme. In addition to meeting the CPE standards of the firm, the programme is required to comply with the requirements of professional bodies. CPE is provided to all staff by participation in regional conferences and seminars. In addition, strict supervision of staff at the field level ensures that adequate, on the field training, is provided to staff on a continuous basis.

Staff involved in industry specific audits is required to undergo rigorous training to ensure that they are proficient with the operations, risks, legislation and regulations governing these industries. In addition to the audit manual, we have developed comprehensive audit and procedures manuals for industry specific audits in high risk sectors such as banking and insurance.
Peer Review
FCK & Associates technical and quality control team conducts reviews internally on a quarterly basis. The review includes formal reporting on the system of quality control in operation, and a detailed analysis on the results of the review including any emerging best practices that may be replicated.
Skills Transfer Programme
FCK & Associates encourages staff training programs, skills workshops and seminars internally, both on a formal and informal basis to help maintain international standards of work.