In just a few easy steps you can keep track of your operations and manage all your accounting activities with Majed Al Shamsi Auditing, boasting reliable and bespoke accounting solutions.
What it is an External Audit?
An External Audit or Statutory Audit is conducted by third-party auditors for legal and statutory reasons and involves a thorough audit of an organization’s financial records.
The importance of an External Audit is in the fact that it is conducted by an independent and neutral agency which gauges the veracity of an organization’s financial statements and whether the accounting is being done in keeping with the protocols set by the organization or in accordance with a recognized General Accepted Accounting Framework (GAAP) such as the IFRS.
How does it affect your business?
An External Audit conducted by a reliable firm ensures your organization has a gold standard in credibility. This objective appraisal is critical for investor, shareholder and creditor confidence and bolsters their relationship with your organization when they are presented with an accurate audit report that matches their actual financial position and outputs of your organization.
An External Audit enables you to enjoy the following benefits:
- Ensures detection and prevention of material fraud and error
- Compliance with banking and accounting protocols
- Boosts credibility and trust in you organization
- Helps facilitate sale and acquisition of businesses
- Helps facilitate payments towards fees, taxes and other legally required payments and avoid the penalties that come with failure to do so.
Why Majed Al Shamsi Auditing?
We at Majed Al Shams Auditing have striven tirelessly to garner our reputation for accuracy, ensuring the veracity of your financial statements and business practices. The expert external auditors here at Majed Al Shams Auditing will go above and beyond the sources within your organization to obtain the necessary information, even establishing channels of communication with:
- Vendors conducting business with your organization to check outstanding payments
- Banks connected with your organization to cross-reference statements of credit and debits
- Customers that deal with your organization to verify outstanding payments
- Legal teams and lawyers in the case of audits linked with legal matters
To further our dedication to providing a robust service to our clients we also:
- Inspect and observe your methods of keeping inventory and implement test counts.
- Maintain keen records on your organization’s operating cycle with sales records, expenses, receipts, cash disbursements and payrolls.
- Maintain a detailed work program to record the inspections and tests conducted.
Our firm is one of the leading firms in the area. By combining our expertise, experience and the energy of our staff, each client receives close personal and professional attention. Our high standards, service and specialized staff spell the difference between our outstanding performance and other firms. We make sure that every client is served by the expertise of our whole firm.
Our firm is responsive. Companies who choose our firm to rely on competent advice and fast, accurate personnel. We provide total financial services to individuals, large and small businesses and other agencies. To see a listing of our services, please take a moment and look at our services page. Because we get new business from the people who know us best, client referrals have fueled our growth in the recent years.
An accounting firm is known for the quality of its service. Our firm’s reputation reflects the high standards we demand of ourselves. Our primary goal as a trusted advisor is to be available and to provide insightful advice to enable our clients to make informed financial decisions. We do not accept anything less from ourselves and this is what we deliver to you. Our high service quality and “raving fan” clients are the result of our commitment to excellence.