Assurance

A financial statement audit is the process of evaluating and examining the accuracy and reliability of the financial statements provided by an entity. We analyze the facility's financial and administrative records, and verify the accuracy of the financial statements. All of this is in accordance with international auditing standards approved by the Saudi Organization for Certified Public Accountants.

During the process of reviewing financial statements, financial elements such as assets, liabilities, and net income are examined, in addition to verifying the accuracy of the entity’s accounting processes and internal procedures.

The objective of a financial statement audit is to provide independent assurance of the accuracy and validity of the financial statements to ensure the reliability of the financial information provided to shareholders and external parties

Steps to review financial statements:

Planning: We develop a work plan for the audit, outlining the scope of the audit, potential risks, and tests to be performed.

Examination: We collect data and supporting documents, analyze them, and conduct the necessary tests to ensure the validity and accuracy of the information.

Evaluation: We evaluate the results of the tests and determine whether there are any material misstatements in the financial statements.

Issuing the report: We issue a report explaining his opinion about the validity and accuracy of the financial statements, and indicating any observations or reservations he may have.

Benefits of reviewing financial statements:

• Improving the quality of financial reports.

• Enhancing confidence in the company’s financial information.

• Identify potential financial risks.

• Improving the efficiency of the company's financial operations.

• Compliance with legal and regulatory requirements.

Beneficiaries of financial statement audit services:

• Current owners of the company.

• New or prospective investors.

• Zakat, Taxes and Customs Authority.

• Investment Authority.

• Banks.

• Other regulatory and investment bodies that are interested in knowing the financial position and income of the facility.
Our services include:
- Audit of financial statements and consolidated financial statements in accordance with local legislation.
- Audit of financial statements and consolidated financial statements in accordance with IFRS.
- Audit of extraordinary financial statements.
- Audit of resources obtained from the donation.
- Audit of consolidation package.
- Review of financial statements.
- Audit for specific purpose.
- Compilation.
- Training and implementation of international financial reporting standards -consulting services related to the implementation of IFRS.
- Report on internal control -testing of internal organizational and accounting control procedures.
- Audit closing balance -validation of specific financial indicators of a legal entity that is the subject of buying or selling.
- Audit of projected financial data -showing potential sequence of events and possible future actions.
- Internal audit out-sourcing.