Audit and assurance

Helping you navigate regulatory complexity and strengthen trust and transparency

PwC Guyana provides a full range of audit and assurance services to clients operating within the public and private sectors and includes a majority of the publicly quoted companies on the local stock exchange. We apply to all assignments, be it a statutory audit or a complex consulting engagement, a uniform approach based upon a philosophy of aligning our objectives with those of our clients.

A "business" approach which addresses the needs and concerns of management and users of reports, building on a thorough understanding of the business being audited.

Emphasis on professional judgement which must be applied consistently in assessing the reasonableness of management decisions and estimates. Sound professional judgement also ensures that the trivial matters are set aside and effort is directed to that which is genuinely of significance.

A risk based approach which focuses attention on those elements of the business under review which are susceptible to errors or misstatement.

Our audit will be performed in accordance with International Standards on Auditing. Our approach will comprise three essential phases:

  • Planning
  • Execution
  • Review and Report

This approach ensures that all requirements are met effectively and efficiently and a high quality output is delivered.

Based on our understanding of your needs, we determine our approach and the methodologies which will best ensure successful delivery in the most cost-effective manner and specifically meet all requirements of the legal and reporting environment. We identify the particular technical skills and expertise needed on every assignment and mobilized the most appropriate team. We determine exactly how we will plan and execute every assignment.

Three essential phases


Planning is the backbone of our efficiency and effectiveness.  Therefore, the starting point of any assignment is gaining an understanding of the business with the objective of identifying key issues, potential risk areas and materiality levels.

By meticulous attention to planning, we determine precisely what steps must be taken to meet assignment objectives.  Furthermore, we discuss with management our assignment plans before commencement of fieldwork to ensure their concurrence with planned approaches.  In this way, firm timetables can be set, meetings scheduled, and most importantly, fee estimates can be converted into fee commitments.

This phase includes:

  • Meeting with representatives of The Companies to gain an understanding of its business.
  • Review of all applicable documents considered necessary to perform the audit - agreements, sub-agreements, contracts, all relevant Acts.
  • Review and assessment of the accounting systems and control environment, specifically those established to record the utilization and disbursement of funds.
  • Development of work programmes based on the assessment of the accounting systems and control environment.
  • Approval of audit plan and work programs by engagement partner, and quality assurance partner ensuring that your requirements have been satisfied.


The execution phase puts the plan into action and comprises the actual fieldwork.  

This comprises of the following:

  • Executing the work plan developed in the planning phase, identifying and resolving critical issues.
  • Ensuring that appropriate support procedures, methods and tools are used on the assignment.
  • Identifying and addressing scope changes to effect alternative solutions.
  • Preparing and delivering, as appropriate, interim reports on the work performed.

Review and report

The completion of the audit assignment entails not only our internal review of the work performed and the findings, but also the dialogue between senior PricewaterhouseCoopers personnel and your management team.  Problems encountered and weaknesses noted are discussed fully before any report is issued.  Matters of disclosure, accounting treatment or non-compliance with statutory are similarly examined at this time and the final draft prepared.  In  addition, general management and organizational points, which we feel, should be brought to your attention will be raised and any other issues impacting on the business will be discussed in our "wrap-up" of the assignment.

Because of the PricewaterhouseCoopers methodology and our business approach to the audit exercise, we are afforded the opportunity to make recommendations in a number of areas.  Consequently, our exercise would provide you with the following additional benefits:

  • Comments upon weaknesses in internal accounting controls and recommendations for improved efficiency.
  • Identification of and advice upon potential accounting and organizational problems.
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Saeed Rahaman

Saeed Rahaman

Assurance Partner, Country Manager, PwC Guyana

Tel: +592 614 4966