Financial Auditing Services

Financial_Auditing_Services

The financial audit process aims to reveal the financial status of a company or an institution by reviewing and evaluating the financial statements, verifying the correctness of the recorded entries, expressing an opinion on the financial statements prepared by the company in general or in particular, and creating an idea about errors that may occur in the event of a mistake.

The financial audit also helps in supervising the plans developed by project owners, following up on their implementation, collecting and evaluating the results of the project's work objectively, and achieving the maximum possible production efficiency by preventing extravagance in any aspect of the project's activity. Through the financial audit, accounts books and internal control policies of an institution are examined to determine their compliance with the accounting standards set by regulatory bodies.

Al-Rustom Office provides internal and external accounting, administrative and financial consultancy in accordance with the highest international standards and practices. We have a group of independent financial auditors with expertise and high efficiency in auditing accounts at all levels. Our team is capable of assessing financial risks, solving problems and providing opportunities for developing companies and achieving their growth and stability.

 Benefits of Financial Audit

The financial audit offers several advantages that can help identify defects (if any), correct errors and push the wheel of growth and prosperity forward. The most important advantages of financial auditing can be categorized into:

Internal Advantages

  • Ensure the accuracy and validity of the accounting data existing in the project's audit books / records, and determining the extent of reliance on them.
  • Obtain a neutral technical opinion on the financial statements’ compliance with what is written in the financial books.
  • Discover any errors or fraud (if any) in financial records.
  • Reduce the chances of errors and fraud through the auditor's sudden visits to the project and strengthen the internal control systems used.
  • Assist in setting the financial and administrative policies as well as future programs of the company, and provide a suitable ground for short and long-term decision making.
  • Reassure the users of the financial statements and enable them to take appropriate decisions for their investments.
  • Facilitate the submission of various reports and filling out forms for government agencies with the help of an auditor.
  • Determine the extent to which a company can be credible.
  • Determine the revenue capacity of the company (and determining the efficiency of the activity carried out by the company).
  • Determine the optimal financing structure and planning for the company.
  • Determine the appropriate sales volume through break-even and operational analyses.
  • Determine the company's net worth as well as an indicator of the company's true financial position.
  • Determine the cost structure of the company.
  • Determine the fair value of the company's shares.
  • Evaluate the performance of senior management.

External Advantages

  • Provide external confirmation of the company's financial health and good management.
  • Determine the value of the company to the business community.
  • Improve the company's reputation and make it an ideal business partner.
  • Provide the possibility for the company to obtain loans and advances in the event that all accounts are accurate.
After all, a financial audit is a prerequisite for almost any type of business loan for corporate lenders.

Looking for an expert, neutral financial auditing service provider?

You’ve just found us! Al-Rustom Law Firm can assist you in revealing the unique financial status of your company, making an objective assessment of its performance and contributing to the improvement of its position locally and internationally through a highly qualified specialized team in various financial and accounting issues. All you have to do is talk to our expert team.

Get in touch with us today!