ECL model assumptions auditors will challenge in 2026
9 min
Practice · Audit & Assurance
Independent assurance, delivered to standard.
Statutory audit and assurance engagements are undertaken through Rafiu Olawuyi & Co. (Chartered Accountants) in accordance with applicable professional standards, ethical requirements and regulatory obligations.
ISA
International Standards on Auditing
IFRS
Reporting framework alignment
FRC
Financial Reporting Council compliance
100%
Partner-reviewed opinions
01 · What we doSub-practices.
Sub-practices.
One accountable senior consultant.
Every Outliers engagement is leadership-led. You get one named senior consultant, one accountable team and one model that travels across the full scope of the practice.
01
Statutory financial audit
Annual audit of financial statements for CAMA, FRC and lender reporting obligations.
02
IFRS assurance
Independent review of IFRS adoption, transition adjustments and disclosure completeness.
03
Regulatory assurance
CBN, SEC, NAICOM and PenCom prudential and conduct-of-business assurance engagements.
04
Group reporting packs
Audit of group consolidation, intercompany eliminations and component reporting.
05
Agreed-upon procedures
Targeted procedures over revenue, payroll, grant utilisation or covenant compliance.
06
Internal controls review
ICFR design and operating-effectiveness reviews aligned to COSO 2013.
02 · How we work
A method, not a moodboard.
01
Scope
Risk assessment, materiality, fraud risk factors and audit strategy memorandum.
02
Plan
Detailed audit programme, control walkthroughs and analytics-driven sampling.
03
Execute
Substantive testing, third-party confirmations and management representations.
04
Opine
Partner review, quality control sign-off and issuance of the auditor's report.
03 · Who we serve
Built for boards that own the number.
- Listed and regulated entities (CBN, SEC, NAICOM, PenCom)
- Growth-stage companies preparing for capital raises
- NGOs and donor-funded programmes requiring audited utilisation reports
- Subsidiaries reporting into international parent group audits
Gated download
Audit readiness checklist
A 24-point pre-audit checklist used to compress fieldwork and reduce management points.
04 · Related insights
All insights Recent thinking from the desk.
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Plan your next statutory audit with confidence.
Engagements delivered through Rafiu Olawuyi & Co. (Chartered Accountants) under our professional accountability framework.