Reviewing & Auditing
Auditing and reviewing process aims to determine whether the accounting cycle was carried out correctly and fairly. Financial auditing is considered the main indicator of the accuracy and fairness of accounting data. This process takes place by monitoring and verifying the accuracy of the data before examining it carefully and verifying the credibility of the data and financial reports released by the management and reviewing the accounting procedures and declaring them as the legal accountants and external auditors review the financial statements that have been prepared, in terms of measurement, presentation and disclosure, along with the financial reporting framework withهى the generally accepted auditing standards.
The types of review and auditing are divided into (external review and auditing – internal review and auditing)
1. External Reviewing and Auditing :-
External audit is a kind of investigation conducted by an independent financial auditor. This type of audit is usually intended to come up with a neutral technical opinion on the entity’s financial statements. This opinion or certificate is presented transparently to shareholders, capital owners, or investors interested to make a decision whether or not to invest in the entity. Moreover, External audit and review services aim to ensure that the financial and other information provided by companies is reliable and aligned with the requirements of legal and international standards for preparing and presenting financial reports and statements in a fair manner and free from material errors.
2.Internal Review and Auditing :-
Internal auditing means emphasizing the accuracy of operations through different procedures: Top of them, affirming that the establishment is correctly applying the document cycle according to generally accepted accounting standards. Internal auditing also evaluates the company’s internal controls, including corporate governance and accounting processes, and internal auditing and review processes to make sure that it all the procedures complies with laws and regulations and assist filing financial reports as well as provide accurate financial data up on request whenever needed.
Auditing Services Include the Following:
1- Review and audit accounts on (monthly – quarterly – semi-annually – annually) bases.
2- Review, audit and approve financial statements.
3- Prepare a management letter that includes all audit results.
4- Ensure coordination with new tax laws and regulatory provisions.
5- Ensure that disclosure and presentation of supplementary explanations to the financial statements aligned with generally accepted accounting principles and in accordance with applicable laws and regulations.
6- Prepare the auditor’s report on the financial statements at the end of the fiscal year.
“Accurate auditing is the foundation of trust and credibility for any entity striving for transparency and sustainable growth.”
Mohamed Kholief, CEO
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