External audit services represent the most important professional service that we provide to our clients. It can be defined as examining the entity’s financial statements and reporting to the management whether these financial statements represent fairly the financial position of the entity at the end of the period subject to audit. We are providing audit services based on analyzing risk elements and finding the effective solution through deep understanding for the client’s activities and environment. One of the most important results of this method is to detect weaknesses and apply the right method to re-enhance them, as well as identifying techniques to improve the future vision of clients’ activities, which leads to more ideas to improve profits and minimize costs. The audit and examination work are executed in accordance with the international auditing standards approved by the Saudi Organization for Chartered Professional Accountants.
Our auditing service does not stop at expressing our opinion on the financial statements only, it also includes assessing the internal control system of the facility. In accordance, we issue a recommendation report explaining the effectiveness of the internal control within the facility. Furthermore, our report will aim to reduce the conflict of duties, the administrative structure weaknesses, and its appropriateness to the entity as well as the compatibility of tasks and authorities with jobs.
Our audit procedure can be affected by several factors. The most important factor is how successful the internal audit in those facilities, the level of technology used, the nature and size of operations and financial transactions and the client’ commercial environment.
The audit tasks can be summarized as follows:
- Quarterly auditing and preparation of financial reports for regular periodic periods.
- Final audit of the financial statements at the end of each fiscal year.
- Preparation of reports resulting from audits and submit them to management.
- Examination and evaluation of the internal control system in order to reduce the cost of the audit on the client in the event of an effective internal control system, while presenting the recommendations proposed by us to strengthen the control procedures and improve their effectiveness.
- Applying scientific and technical methods and rules when selecting audit samples.
- Implementing analytical audit procedures for business items results, profitability reports and comparing the results of the years and financial periods.
- Providing accounting, financial and regulatory advisory services to the establishments we are auditing.
- Enhancing strengths & opportunities, detecting weaknesses & threats, and working to prevent weaknesses.
- Apply various types of audits according to business needs.
- Using computerized audit program to perform the audit in a professional and easy approach.