Subject AD HOC REVIEW OF KENYA RE'S CONTRACTS – CONSULTANTS.

1. INTRODUCTION
Following a request by the Managing Director to conduct a review of Kenya Re
consultants and contracts. (Risk and Compliance) and Internal Audit departments
were tasked to undertake the review and give a report expeditiously. The full
consultant’s list from all the departments has been obtained and a request for the
necessary documentations has been made both to the Procurement and Legal
departments and assurance has been given that the documents will be made availed.

2. BACKGROUND
According to corporate experts, there are reasons why corporations hire consultants.
This is done to; get specific expertise, identify internal problems, supplement the
corporations’ internal staff and for training purposes.

However, consultancy has budget impacts since consultants come with a high price
tag for a variety of reasons: experience, skills, and short-term availability. Project
budget can be blown if the assignment is extended past the budgeted amount.

Therefore, Internal consultants review and auditing programs are critical for the
surveillance and assurance of the proper protection of corporation’s assets against
threats. Additionally, they verify the alignment of business processes with
documented policies and procedures, avoiding duplicity of tasks and ensuring cost
effectiveness.

3. OBJECTIVES
i. To provide a detailed review of consultants and determine whether there is
duplicity of duties.
ii. To improve efficiency of operations and evaluate potential risks and how they
impact the corporation.
iii. To assess the corporations’ controls and ensure legal compliance.
4. CONCLUSION
By objectively reviewing the contracts, policies, and procedures, through a systematic
risk assessment we will mitigate the corporations’ unique risks. The requirements will
consist of a list of documents which, if prepared beforehand, will result in the quick
and early ending of the review process.

5. DOCUMENT REQUEST LIST:

i. Reports on the Payroll
ii. List and Evidence of all the Transactions.
iii. Copies of all legal documents.
iv. Documentation of the above contracts
v. Progress reports.
vi. Certificates of work done (where applicable).
vii. Relevant correspondence from consultants.
viii. Final certificate of work (if any).
ix. User acceptance testing /UAT (if any).

HMN

Page 2 of 2