External or Statutory Audit Service in Bahrain
External or Statutory Audits – The objective of a statutory audit is to determine whether an organization is providing a fair and accurate representation of its financial position by examining various financial and banking records.
What is External or Statutory Audit?
External or Statutory Audit is the audit of financial statements required by the Statute governing that organization as per the provisions of the same statute. A statute is a particular law or Act governing a particular organization.
Why Should You Hire An Audit Firm For External Or Statutory Audit?
The main reason to hire an audit firm for External or Statutory Audit is to know and control if a business ensures correct representation of its financial status by through scrutiny of bank balances, financial transactions & book keeping records. External or Statutory audit is also a compulsory audit.
An audit firm shall conduct an external audit. An external auditor is a member of recognized professional accountancy bodies and normally address their reports to the shareholders of a corporation or to the owners of the business entity. An external auditor is subjected to strict rules and regulations to uphold their integrity and to establish independent consulting activity.
Why Emirates Chartered Accountants for External or Statutory Audit?
Emirates Chartered Accountants is one of the leading audit firms in Bahrain providing External or Statutory Auditing and analysis for the companies in Bahrain to control cost, improve cost efficiency, enhance overall profitability and make effective management procedures.
Our team for experts who are finance and management professionals will provide the client what is utmost required for the organization and shall get the accounts audited.
We at Emirates Chartered Accountant, as one of the audit firms in Bahrain, offer a careful examination of decisions and actions of the management in order to analyze the performance in the field of accounting, auditing and tax services.
What are the primary stages of an external audit?
Planning and risk assessment to understand the business and its environment in which it operates to assess the risks that could impact the financial statements.
Internal controls testing for assessment of the effectiveness of an entity’s suite of controls, concentrating on such areas as proper authorization, the safeguarding of assets, and the segregation of duties.
Substantive procedures include a broad array of procedures.
Emirates Chartered Accountants & Its Associate Professional Firms (Emirates Chartered Accountants Group) are ISO 9001-2008 Certified International Chartered Accountants Firms and is headquartered in Dubai with its branches over the Emirate, Bahrain, UK & India. The inception of Emirates Chartered Accountants Group was marked in the year 2005, backed by a team of highly qualified professionals in the services that are provided.
Our Audit & Assurance services in the UAE comprises as mentioned below: