Our primary business in professional practice is to audit clients’ financial statements for an independent professional opinion. This audit is conducted in accordance with the legal requirements of the audit and in accordance with the established audit rules, and the audit procedures we carry out during our audit are carried out in accordance with the international standards. In this area, the following audit procedures are of particular importance:
- Study and evaluation of the system for internal control and accounting procedures.
- Control of actual inventory procedures.
- fully independent verification of assets and liabilities
As part of our services, we provide management with reports of significant incapacity or weakness in the internal control system, accounting procedures and any accounting violations that we observe during our audit.
With this activity, we are in accordance with the internal audit standards and in an objective and independent manner in order to add value to the client and to improve its business. We help the business achieve its objectives by following a disciplined approach to assess and improve the effectiveness of risk management, control and governance mechanisms, including information systems auditing activities (IT Audit).
And through our work, we focus on the following:
– Protecting the Facility’s finances.
– Checking and evaluating the accounting system.
– Verifying the accuracy of the information.
– We make sure policies and procedures are implemented.
– Follow-up on the implementation of the plans developed.
– Training of workers.
– Bankruptcy related procedures.
Second: Zakat and Taxation Consultancy
- Preparing and reviewing tax and zakat data for companies and individuals and studying their estimates
- Preparing and following up on tax and zakat claims and helping to respond to the inquiries of the General Authority of Zakat and tax.
- Obtaining certificates of all kinds after the General Authority of Zakat and tax has been provided with all its requirements.
- Providing accounting services in tax cases.
- Assistance to managment in cases of objection to the company’s differences with the General authority of zakat and tax in the final assessment.
- Provide adequate professional support in the event of a field check on the client
- Tax and zakat consultations in general.
Third: Bankruptcy Procedures
Our Bankruptcy Procedures services include
Our main services in the professional practice as a trustee in bankruptcy proceedings
- Make a preventive settlement to help the work of the proposal and ensure that it meets the requirements of the law and its marking.
- Financial reorganization: Assist in the work of the proposal, ensure that it meets the requirements of the law and its marking, account for claims and bankruptcy assets, supervise voting procedures and supervise the implementation of the approved plan.
- Liquidation procedure: Inventory of claims, bankruptcy assets and liquidation of assets
Fourth: Other special services
Our office provides other services in a variety of areas such as:
- Study of regulations, procedures, accounting documentation cycle, performance indicators, financial statements, the performance of employees and their practical experiences and submitting reports on them.
- Preparing or developing the financial and accounting system like the chart of accounts, cost system, financial regulations, financial reporting system, internal control rules, production control, etc.
- Study and evaluate companies and institutions for their overall internal situation to find on the weaknesses and risks, prepare the necessary reports and make recommendations and suggestions.
- Study of the information system and the extent of usage of information technology and study the systems used and the extent of the exploitation of available equipment and its ability to function as an effective information system.
- Helping institutions and companies to identify goals and objectives, identify capital elements and recruiting and training accounting and management cadres.
- Helping the companies while under construction to issue shares and Initial Public Offering and help prepare or review the financial information contained in the release statements.
- Examining special financial agreements such as production contracts, franchising rights, commissions and sales price adjustments… Etc.
We apply the unified international audit method of CPA Associates International (CPAAI) in the service of our client, which ensures effective and continuous communication of all issues and important matters related to the audit and the work of the client in addition to compliance with the regulations and requirements in the Kingdom of Saudi Arabia
CPA Associates International has a unified audit approach and procedures supported by modern technology that helps:
- Effective planning and implementation of the audit method, based on risk identification which provides an appropriate basis for expressing our opinion in the client’s financial statements.
- Identify the clients’s needs, expectations and professional needs for the task and prepare and implement an appropriate plan to serve the client
- Provide relevant advice and guidance to suit the nature of the client’s activity in light of the client’s special circumstances.
Partner guidance: Our partners direct the planning and implementation of the audit procedures based on their experience and knowledge of the nature of the client’s activity, the partner in charge of the client’s service is required to intervene effectively and continuously in the process of managing and guiding the audit process.
Risk identification: We identify risks associated with the nature of the client’s activity and the audit process at the level of the core accounts and possible errors, in addition, we help the client identify the risks of its work and determine the extent to which internal control measures are in place to reduce these risks and thus respond to these risks by planning audit procedures that focus on these risks.
Interaction: We interact with the management of the client and respond appropriately to its needs and expectations.
Flexibility: We develop the audit plan to respond to changing circumstances.