Tanna Sreekumar & Co. Certified Public Accountants

Profil

Profile of Tanna Sreekumar & Co.

We would like to introduce ourselves as Tanna Sreekumar & Co., Certified Public Accountants in Practice (CPP) and would like to give our brief profile as follows:

 -Tanna Sreekumar & Co, (previously known as Tanna Somaiya & Co) was       established in Tanzania in 1945.

 -We are spearheaded by two partners, Mr. B. K. Tanna as the Senior Partner and Mr. B. S. Sree Kumar as the Managing Partner.

 -With a cumulative audit experience of more than half a century, our expertise in the field of auditing and the quality of the services has been ever increasing. This can be gauged from the following facts:

 

• We have got more than 400 clients
•  We audit the financial statements for organizations from the  following segments of businesses:

                 - Manufacturing

                 -  Trading

                 -   Service Industry

                 -  Advertisement

                 -  Infrastructure-

                 -  Construction

                 -  Aviation

                 -  Transportation

                 -  Hotel and Hospitality

                  -  Banking Services

                  -  Diamond Mining

                  -  Agriculture and harvesting

                  -  World bank funded projects

                  -  Shipping lines

                  -  NGOs and Charitable Organizations

                  -  Fresh water and sewerage service provider

                  -  Earth moving equipments and service providers

 Our various achievements and mile stones are as

 follows:

   1945 – Established as a Certified Public Accountant in Public Practice.

   1981 to 1998 – The correspondent firm of Price Waterhouse (as then known) for a period of 17 years.

   2003 – Got the accreditation from the Central Bank of Tanzania known as  Bank Of Tanzania (BOT) to perform the attest function of auditing the     financial statements of Banking and Financial Institutions established in the United Republic of Tanzania.

   2004 – Became an Independent Member of Morrison International (MI)  

   2004 – Took over Patel, Shah and Joshi, Certified Public Accountants in Public Practice, one of the oldest audit firms in the whole of East Africa with a clientele of more than 200.

 -  The partners have got the accreditation from the Tanzania Revenue    Authorities (TRA) and are certified to do all kinds of tax audits and tax consultancy.

 -  2007 – Registered by the World Bank as the World Bank Group Vendor which entitles us to bid for any of the project of the World Bank

 -  2007 – Selected and enrolled by the Controller and Auditor General (CAG) of Tanzania as an authorized Auditor for auditing the financial statements of various Governmental and parastatal organizations.

 -  The partners are very well known in the business market as well as the professional circle due to the contribution that they have been making in raising the standard of the Accountancy profession in the country.

 -  Mr. Tanna, an FCA (England and Wales), FCPA and Finst D., was till recently the Vice-Chairman of National Board of Accountants and Auditors (NBAA), the apex body governing the Auditing Profession in Tanzania.

 -  He was also a member of the Executive Committee of NBAA and the past Chairman of the Tanzania Association of Accountants (TAA).

 -  Mr. B.S. Sree Kumar, a Fellow Member of the Institute of Chartered Accountants of India, and holds a bachelor of Commerce Degree from the University of Kerala apart from being registered as a Certified Public Accountant in Public Practice with the National Board of Accountant and Auditors, Tanzania.

   Mr. B.S. Sree Kumar is a Member of the Education and Publication Committee of the National Board of Accountants and Auditors.

   He is also the Executive Director of M/s Unique Financial Services Ltd., a leading Management Consultancy company in Tanzania.

 He is a  Visiting professor at the faculty of law, University of Dar es Salaam.

We have got affiliations with the various leading service providers such as:

Morison International  - UK

M/s Unique Financial Services Ltd. – a leading Management Consultancy company;

Law Associates – a firm of Advocates, Notaries Public and Commissioners for Oaths based in Dar es Salaam;

NeST Technologies - an international company providing high-end software solutions in engineering and business domains;

Ushus Technologies Private Ltd. – an Information Technology Solutions company offering software solutions and consultancy services to Fortune 500 companies worldwide;

Unique Academy Ltd.  – leading IT education service provider.

AUDIT APPROACH 

The modus operandi that we take in completing the attest function of auditing and reporting can be best described as a “Top-down Approach” wherein:

 - We avoid rigid or standardized methodology in favour of a more flexible audit approach.

- The audit does not begin with the vouching but with a clear understanding of the organization, as to how they are organized, how the transactions are controlled directly and indirectly, how the transactions are recorded, how they conform with the laws and regulations governing the operation, the reporting pattern, the Internal Controls, co-ordination both horizontal and vertical, etc.

- We have divided the financial statements into suitable components and for each component, the underlying assertions, inherent and control risks and possible controls are considered.

- The appropriate audit procedures are selected to enable us to obtain sufficient evidence regarding the validity of the assertions in the most efficient manner possible.

- Before the commencement of the audit a comprehensive audit plan is drawn with a schedule. 

- This plan is discussed with the client, enabling free flow of ideas and to know, as to whether the clients feel the need for checking any additional areas. 

- The plan is then refined incorporating the changes mutually agreed and is strictly adhered to.

- We prepare and submit a Management Letter highlighting the comments on book keeping, the controls, the reports generated, etc. along with the audited financial statements, thereby drawing the attention of the management towards areas which may be skipped by them.

Conclusion:

It must be said that we have grown into the present status through a thorough professional approach and the list of our satisfied clientele is growing every day.  We ensure real value for client’s money.  Needless to add, the information received during the course of the assignment is kept strictly confidential.

The Audit related queries can be sent to:-

Mr B S Sreekumar (Managing Partner) at sree@uniquetz.com, +255 784 32 33 34

Mr Kapil Garg       (Audit Manager)     at audit@uniquetz.com +255 785 07 90 51