Audit & Assurance

Under Audit & Assurance typically we serve in the following services up to an optimum level…

  • Financial Statement Audit/External Audit
  • Internal Audit
  • Information Technology Audit/CISA
  • Forensic Audit
  • Risk Management
  • Investigation Audit
  • Due Diligence Audit
  • Supply Chain Audit
  • Company Liquidation

Our assurance services are tailored to meet each client’s needs. Al Hadi Accounts & Tax Consultants is known for big-picture insights and practical approach for meeting clients current and future challenges.

We conduct a robust planning phase at the outset of our relationship. This allows us to complete the engagement efficiently and in compliance with all applicable requirements. Then we communicate throughout the entire engagement so there are no surprises when we formally present our results to your executive team. Throughout our relationship, our seasoned professionals use a practical eye to apply the latest rules and pronouncements to your situation.

External Audit:

METHODOLOGY

  • Prepare financials as per IFRS (International Financial Reporting Standards);
  • Express an opinion on financial statements as per IAS (International Accounting Standards). Those standards require that we comply with relevant ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free of material misstatement.
  • Review of the Internal accounting and operational controls in the company and issuing a Management letter advising best business practices.
  • Compliance with local laws.

OBJECTIVES

The Audit objective is to validate the following Financial assertions contained in the financial statements:

  • Completeness
  • Existence & Occurrence
  • Accuracy
  • Valuation
  • Obligations & Rights
  • Presentation & Disclosure

APPROACH

Our Audit Process is set out as a four phase audit workflow, as follows:

  • Phase 1: Audit Planning
    • Strategic Analysis
    • Process Analysis
    • Risk Assessment
  • Phase 2: Interim / Final Audit
  • Phase 3: Audit Reporting
  • Phase 4: Advising Management on best practices

 

 

Internal Audit:

Our team offers practical suggestions and recommendations for risk management and adds value to business enterprises. By viewing internal audit engagements with an industry perspective, Al Hadi Accounts & Tax Consultants assists clients in implementing internal improvements that increase their competitiveness and efficiency.

Our Internal Audit services are comprehensive and include:

  • Review of internal control environment
  • Design internal controls
  • Implementation of controls
  • Monitor their operating effectiveness
  • Identifying business risks and giving recommendations to cover up
  • Developing policies and procedures

Agreed Upon Procedures

These procedures are performed in accordance with the International Standard on Related services and report is prepared based on factual findings.
These procedures can enhance the credibility of the information provided to third parties.

 

Information Technology Audit:

IT audit deal with the identification and analysis of potential risks, their mitigation or removal, with the aim of maintaining the functioning of the information system and the organization’s overall business.

An Information Systems Audit increases transparency and traceability by providing an organisation with an overview of the current state of their information systems, which includes IT infrastructure and various IT governance elements such as applications, systems, network components, policies and procedures. The Information System components can be assessed based on industry standards and frameworks or any external regulations your organisation is obliged to meet.

We have vast experience and expertise in conducting audit of Information technology systems and security of business organisations across varied industries.

 

Forensic & Other Investigations:

Every company can be affected by fraud, bribery and corruption. Financial losses and a great damage to one’s reputation and image can follow.  Our Fraud Investigation & Forensic Audit Team offer investigations in cases of suspicion or damage and can help you to prevent damage.

We specialize in following services:

  • Fraud and financial investigations
  • Forensic special investigations
  • Forensic data analysis
  • Anti Money laundering advisory
  • Recommendations for the optimisation of your organisation
  • Implementation of preventative measure and control systems