Registration with AABE

 

TAY& Co is registered as Certified Audit Firm with the Accounting and Auditing Board of Ethiopia with effect from 22 July 2015 in accordance with the newly promulgated Ethiopian Financial Law.

 

Global Network Membership

TAY & Co became member of Kreston international effective from 1 April 2015. Kreston International is a UK based global network of independent accounting firms.

 

Quality Control

TAY conducted staff training on Quality Control for its 35 employees at Global Hotel on 13 May 2015 in order to review and enhance its quality control policy and procedures. By doing this TAY complies with the IFAC requirements and Kreston International quality policy. 

Kreston International initially assessed TAY & Co in 2015 to ensure compliance to quality policies and procedure of the network and that of IFAC as an admission procedure. Subsequently as a periodic quality control it also assessed us in 2017 to ensure continuous compliance with the quality policy of the network. 

Furthermore, TAY has been assessed in 2016 by the World Bank and passed the assessment criteria scoring 83% which makes TAY eligible to audit projects funded by the World Bank group. 

 

Use of Technology

TAY & Co successfully implemented audit software in July 2018. Implementation of the software is a big step away from the traditional paper-based audit process and it will allow TAY & Co to ensure compliance with International Standads on Auditing, to modernize risk assessment and audit planning, to document audit files electronically, and last but not least it lays ground to further deploy available technologies.