S/N NAMES MATRICULE

1 NKO REKIA NDAPNGO UBA20M0142

2 TIMAH BETY NDUM UBA20M0748

3 SHU GAIUS ABENWI UBA20M0159

4 DION DIONYSIUS DION UBA20M0043

5 FORTI ATANGA GHISLAIN UBA20M0992

6 BAWAK DERICK ORANK UBA20MO694

7 LUM ERISCLAIR FUH UBA20M0088

8 JASPER TEMBENG UBA21M1040

9 TSEMBOM PROSPA UBA20M0177

10 TSETOH ARNORD ZUH UBA20M0281

Introduction
Auditing means to inspect, examine, checking, investigate, scrutinize, company accounts.
Auditing is a systematic examination and verification of firms books of accounts, transactions
records, other relevant documents and physical inspection of inventory by qualified accountants
called auditors.

The term audit is derived from Latin word ‘audire’ which means to hear. Auditing is as old as
accounting. It was used in all ancient countries such as Greece, Egypt, Rome, U.K, India.
The main objective of auditing is to ascertain the accounts were true and fair and to detect and
prevent errors and frauds.
The International Accounting Standard Committee and the Accounting Standard Board of the
Institute of Chartered Accountants of India have developed standards accounting and auditing
practices to guide the accountants and auditors in the day to day work.

The History of auditing in Cameroon

The auditing profession in Cameroon is regulated by the Institute of Chartered Accountants of

Cameroon (Ordre des Experts Comptables du Cameroun - ONECCA-Cameroun). The
ONECCA-Cameroun was established in 1973 and is responsible for regulating the practice of
auditing, accounting, and related professions in Cameroon.

The ONECCA-Cameroun is governed by a council of 15 members who are elected by the

members of the institute. The council is responsible for setting standards for the profession,
enforcing ethical guidelines, and promoting the interests of the profession.

To become a member of the ONECCA-Cameroun, individuals must meet certain educational and
professional requirements. They must have a degree in accounting or a related field, complete a
period of practical training, and pass a rigorous examination.
Once individuals become members of the ONECCA-Cameroun, they are required to adhere to
strict ethical guidelines and professional standards. They must also participate in continuing
education programs to keep their skills and knowledge up-to-date. The Auditing firms in
Cameroon are typically small to medium-sized, with a few large international firms operating in
the country. These firms provide a range of services, including financial statement audits,
internal audits, and advisory services.

The auditing profession in Cameroon faces several challenges, including a shortage of qualified
professionals, limited access to technology and resources, and a lack of public trust in the
profession. However, the ONECCA-Cameroun is working to address these challenges through
initiatives such as increasing the number of qualified professionals and promoting transparency
and accountability in the profession.

In conclusion, the auditing profession in Cameroon is regulated by the ONECCA-Cameroun,

which sets standards for the profession, enforces ethical guidelines, and promotes the interests of
the profession. Auditing firms in Cameroon provide a range of services, but face challenges such
as a shortage of qualified professionals and limited access to technology and resources. The
ONECCA-Cameroun is working to address these challenges and promote transparency and
accountability in the profession.

Definition; Auditing is the verification of financial position as disclosed by the financial

statements. It is an examination of accounts to ascertain whether the financial statements give a
true and fair view of financial position and profit or loss of the business. Auditing is the
intelligent and critical test of accuracy, adequacy and dependability of accounting data and
accounting statements. Different authors have defined auditing differently, some of the definition
are:
“Auditing is an examination of accounting records undertaken with a view to establishment
whether they correctly and completely reflect the transactions to which they purport to
relate.”-L.R.Dicksee
“Auditing is concerned with the verification of accounting data determining the accuracy and
reliability of accounting statements and reports.” - R.K. Mautz
“Auditing is the systematic examination of financial statements, records and related
operations to determine adherence to generally accepted accounting principles,
management policies and stated requirement.” -R.E.Schlosser

The Organization of auditing in Cameroon

In Cameroon, auditing is primarily carried out by the Supreme Audit Institution (SAI), which is
the Supreme State Control (SSC) or the Cour des Comptes in French. The SSC is an independent
body responsible for auditing public accounts, ensuring transparency and accountability in the
management of public funds, and preventing corruption.

The SSC is responsible for auditing the accounts of the state, territorial communities, public
institutions, public companies, and all entities that receive public funds. The institution carries
out financial, compliance, and performance audits to ensure that public funds are used in
accordance with legal and regulatory provisions and for the benefit of the public.

In addition to the SSC, there are also private audit firms in Cameroon that provide auditing
services to private companies and organizations. These firms are regulated by the Ministry of
Finance and are required to comply with international auditing standards and guidelines.

Overall, the organization of auditing in Cameroon is aimed at ensuring transparency and

accountability in the management of public funds and promoting good governance practices in
the country.

Functions Of Auditing profession in Cameroon

The auditing profession in Cameroon serves several important functions which includes:

1. Ensuring compliance with laws and regulations: Auditors in Cameroon are responsible for
ensuring that organizations comply with applicable laws and regulations related to financial
reporting, taxation, and other financial matters.
2. Detecting errors and fraud: Auditors are trained to identify errors, omissions, and fraudulent
activities in financial records. They use various auditing techniques to detect these issues and
make recommendations to prevent future occurrences.

3. Providing assurance: Auditors provide assurance to stakeholders that financial statements are
reliable and accurate. This helps to build trust in financial reporting and promotes investment in
the country.

4. Evaluating internal controls: Auditors evaluate the effectiveness of internal controls in place to
prevent fraud and errors. They make recommendations for improvements that can strengthen
these controls and improve the overall financial management of an organization.

5. Improving financial management: Through their audits, auditors provide valuable insights and
recommendations for improving the financial management of organizations. These
recommendations can help organizations to operate more efficiently, reduce costs, and manage
risks effectively.

Overall, the auditing profession in Cameroon plays a crucial role in promoting transparency,
accountability, and good governance in the country.

DUTIES/ FUNCTIONS OF AN AUDITOR IN CAMEROON

An auditor is an individual who is appointed to inspect the books of accounts of the company,
the validity and accuracy of the transactions contained therein. he also forms an opinion on the
overall view of the financial statement. Weather the statement dispect a true and fair view of the
entities financial position. some general functions of an auditor Include:

1. Reviewing financial records: An auditor in Cameroon is responsible for reviewing the

financial records of an organization to ensure that they are accurate and comply with accounting
standards and regulations.

2. Evaluating internal controls: Auditors must evaluate the internal controls of an organization to
determine if they are effective in preventing fraud and errors.

3. Conducting audits: Auditors in Cameroon are responsible for conducting audits of an

organization's financial statements to ensure that they are accurate and reliable.
4. Providing recommendations: Based on their findings, auditors must provide recommendations
to management on how to improve financial reporting processes and internal controls.

5. Ensuring compliance: Auditors must ensure that organizations comply with local laws and
regulations related to financial reporting and accounting.

6. Reporting findings: Auditors must prepare reports detailing their findings and present them to
management and other stakeholders.

One of the auditor’s important duties is to make inquiries, and when he finds it
necessary. A few of the inquiries include:

-Whether loans and advances made on the basis of security are properly secured and the terms
relating to the same are fair

-Whether any personal expenses (expenses not associated with the business) are charged to the
Revenue Account

-Where loans and advances are made, they are shown as deposits. d. Whether the financial
statements comply with the relevant accounting standards. Lend assistance in case of a branch
audit

-Where the auditor is the branch auditor and not the auditor of the company, he will lend
assistance in the completion of the branch audit. He shall prepare a report based on the accounts
of the branch as examined by him and then send it across to the company auditor. The company
auditor will then incorporate this report into the main audit report of the company. In addition to
this, on request, if he wishes to, he may provide excerpts of his working papers to the company
auditor to aid in the audit

Objectives of Auditing
 The objectives of auditing are changing with the advancement of business techniques. Earlier
it was only to check the correctness of receipts and payments. The objectives of the auditing
have been classified under two heads:

1) Main objective
2) Subsidiary objectives

Main Objective

The main objective of the auditing is to find reliability of financial positionand profit and loss
statements. The objective is to ensure that the accounts reveal a true and fair view of the business
and its transactions. The objective is to verify and establish that at a given date balance sheet
presents true and fair view of financial position of the business and the profit and loss account
gives the true and fair view of profit or loss for the accounting period. It is to be established that
accounting statements satisfy certain degree of reliability. Thus the main objective of auditing is
to form an independent judgement and opinion about the reliability of accounts and truth and
fairness of financial state of affairs and working results.

Subsidiary objectives

The subsidiary objectives of the auditing are;

1. Detection and prevention of fraud: the one of the important subsidiary objective of auditing
is the detection and prevention of fraud. Fraud refers to intentional misrepresentation of
financial information. Fraud may involve:
  Manipulation, falsification or alteration of records or documents
 Misappropriation of assets.
 Suppression of effect of transactions from records or documents.
 Recording of transactions without substance.
 Misapplication of accounting policies

2. Detection and prevention of errors: is another important objective of auditing. Auditing

ensures that there is no mis-statement in the financial statements. Errors can be detected
through checking and vouching thoroughly books of accounts, ledger accounts, vouchers and
other relevant information.

Generally, some objectives of auditors in cameroon include:

 Ensuring accuracy and reliability of financial information: Auditors aim to ensure that
the financial information presented by an organization is accurate and reliable.
 Detecting fraud and errors: Auditors must identify any fraud or errors in an
organization's financial records and report them to management.
 Evaluating internal controls: Auditors evaluate an organization's internal controls to
determine if they are effective in preventing fraud and errors.
 Ensuring compliance with laws and regulations: Auditors ensure that organizations
comply with local laws and regulations related to financial reporting and accounting.
 Providing recommendations for improvement: Based on their findings, auditors provide
recommendations to management on how to improve financial reporting processes and
internal controls.
 Enhancing stakeholder confidence: Auditing helps to enhance stakeholder confidence in
an organization's financial reporting by providing an independent assessment of its
financial statements.

TYPES OF AUDITS IN CAMEROON

In Cameroon, there are several types of audits that are commonly conducted, including:
1. Financial audit: This type of audit is focused on examining an organization's financial
records and transactions to ensure that they are accurate, complete, and in compliance with
applicable laws and regulations.

2. Operational audit: This type of audit is focused on evaluating an organization's operational

processes and procedures to identify areas where improvements can be made to increase
efficiency and effectiveness.

3. Compliance audit: This type of audit is focused on ensuring that an organization is

complying with relevant laws, regulations, and internal policies and procedures.

4. Information technology (IT) audit: This type of audit is focused on evaluating an

organization's IT systems and controls to ensure that they are secure, reliable, and in compliance
with applicable laws and regulations.

5. Performance audit: This type of audit is focused on evaluating an organization's performance

in achieving its objectives and goals, and identifying ways to improve performance.

6. Environmental audit: This type of audit is focused on evaluating an organization's

environmental impact and compliance with environmental laws and regulations.

7. Supply chain audit: This type of audit is focused on evaluating an organization's supply chain
processes and procedures to identify areas where improvements can be made to increase
efficiency and effectiveness.

These are just a few examples of the types of audits that are commonly conducted in Cameroon.
The specific type of audit that is conducted will depend on the nature of the organization being
audited and the objectives of the audit.

SOME CHALLENGES FACED BY BY AUDITORS IN CAMEROON:

Auditors in Cameroon face several challenges, including:

1. Limited resources: Many audit firms in Cameroon may have limited resources in terms of
staff, technology, and funding, which can make it difficult to conduct comprehensive audits.
2. Lack of training and expertise: Some auditors in Cameroon may lack the necessary training
and expertise to effectively conduct audits, especially in specialized areas such as IT auditing.

3. Language barrier: Cameroon is a bilingual country, with French and English being the
official languages. Language barriers may pose a challenge for auditors who do not speak both
languages fluently.

4. Political instability: Political instability and insecurity in some parts of Cameroon can make
it challenging for auditors to conduct audits in those areas.

These challenges can impact the effectiveness and efficiency of audits conducted in Cameroon,
and may also impact public trust in the auditing profession.