Audit

Financial Statement Auditing Services

Financial statement auditing involves evaluating and verifying the accuracy and reliability of financial data provided by the entity. We analyze the entity’s financial and administrative records and verify financial data according to international auditing standards approved by SOCPA.

During auditing, the financial elements examined include:

  • Assets
  • Liabilities
  • Net income

Additionally, the accuracy of accounting processes and internal procedures is verified.

Objective of Financial Statement Auditing:

Providing independent assurance on the accuracy and reliability of financial information for shareholders and external parties.

Steps of Financial Statement Auditing:

  1. Planning: Developing an audit plan defining the scope, potential risks, and tests to be conducted.
  2. Examination: Collecting and analyzing supporting data and documents, conducting necessary tests for accuracy.
  3. Valuation: Assessing results to determine if material errors exist.
  4. Reporting: Issuing a report expressing an opinion on the accuracy of financial statements, noting any observations or reservations.

Benefits of Financial Statement Auditing:

  • Improving the quality of financial reporting.
  • Enhancing confidence in the company’s financial information.
  • Identifying potential financial risks.
  • Improving efficiency of financial operations.
  • Ensuring compliance with legal and regulatory requirements.

Beneficiaries of Financial Statement Audit Services:

  • Current company owners
  • Prospective or new investors
  • Zakat, Tax, and Customs Authority
  • Investment Authority
  • Banks
  • Other regulatory and investment bodies interested in the entity’s financial position and income

Our Services Include:

  • Auditing financial statements and consolidated financial statements according to local legislation
  • Auditing financial statements and consolidated financial statements according to IFRS
  • Auditing non-routine financial statements
  • Reviewing donated resources
  • Auditing consolidation packages
  • Reviewing financial statements
  • Auditing for a specific purpose
  • Programming conversion
  • Compilation
  • Training and applying IFRS
  • Consulting services related to IFRS application
  • Internal control reporting: testing regulatory and internal accounting procedures
  • Reviewing closing balances: verifying specific financial indicators for entities subject to purchase or sale
  • Reviewing projected financial statements: illustrating potential future events and procedures
  • Outsourcing internal auditing