External audit services significantly decrease the managers’ risks of legal actions by shareholders or government agencies. The transparency provided by the external audit service UAE, KSA, Qatar, Bahrain, Oman, UK and USA gives clients of the company’s financial reports. As a result, a more belief that the company is performing accurately as defined in the reports. External audit services ensure accuracy.
Purpose of an External Audit
The objective of an external audit of financial statements is to determine whether, in the auditor's opinion, the statements present fairly in all material respects - that is, they show a true and fair view in all material respects of the company's financial position, results of operations, and cash flows, in conformity with national or international generally accepted accounting principles (GAAP).
Procedure of External Audit
An external audit procedure consists of the following steps:
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- Appoint an auditor – independent auditors are chosen in the general meeting
- Accepting the project – the auditor accepts the given project
- Audit program – The overall company data is assessed by the auditor
- Gathering evidence – Auditor cross-check company records and assets
- Reporting – The audit report is prepared and submitted
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Benefits of External Audit Services
The external audit is organized to see the precision of the statements and the financial position of the company. The auditor looks into the financial investments to identify any irregularities.
External auditing points on the financial standing of the business organization in this competitive market. External auditors review their work unbiasedly and present reports with high accuracy.
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- Ensuring compliance with government laws and regulation
- Enhances financial credibility
- Ensuring the accuracy of financial information
- Prevention of fraud
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How BMS Auditing can help?
Through external audit services, we devote time to fully understanding each client and the business. By this, we can identify the key areas and risks to which the businesses are exposed and hence focus our audit effort thereon. We plan our engagements based on an assessment of internal controls and resources at client organizations, which in turn helps us to provide cost-effective external auditing services.
The external audit ensures the completeness and accuracy of the accounting records within the accounting framework eradicating errors, frauds and misstatements. BMS Auditing offers seamless external audit services to help both private companies and the government to check accounting documents.
Our recommendations allow our clients to make practical business decisions leading to improvements in operations and thereby reducing inefficiencies. We are offering all kinds of audit services. For top quality external audit services in UAE, KSA, Qatar, Bahrain, Oman, UK and USA, Reach us!
Our auditing company provides exceptional and unique audit reports, and we are offering all varieties of professional audit services to satisfy diverse corporate demands, including:
