Preparing for a Statutory Audit in Kenya: A Practical Guide for SMEs

Statutory audits are a mandatory requirement for many companies in Kenya under the Companies Act. Preparation is critical to ensuring a smooth audit process. Businesses should begin by reconciling all bank accounts, reviewing internal controls, and preparing complete financial statements in compliance with IFRS standards. Engaging your auditors early allows identification of risk areas and reduces audit adjustments. At Mbiyu Muhia & Associates, we emphasize proactive audit readiness assessments to ensure compliance, transparency, and financial credibility.