Financial Statement Audit Services

External Audit or Financial Statement Review: Verifying the Integrity of Accounting Data and Expressing a Professional Opinion

Financial statement audit services (external audit) and the expression of a professional opinion through the auditor’s report are among the most important services required by a company, as they add credibility to its financial statements. However, financial statement auditing (external audit) is not limited to this alone; there are also observations and recommendations that the company receives from the licensed accountant during the review and audit process, whether concerning the accounting system or the internal control system implemented within the company, as well as identifying strengths and weaknesses, which ultimately benefit the entity as a whole.

At Meras, we are committed to performing audit engagements in accordance with the approved professional standards applied in the Kingdom of Saudi Arabia (IFRS – IPSAS), while ensuring that the audit process is flexible, enabling the team to complete tasks in a timely manner and meet all client needs.

Furthermore, there are several types of external audits, and the client can select the most appropriate based on their requirements, for example:

• Annual audit following the year-end closing of accounts.
• Special purpose audit for zakat purposes (financial statements prepared for zakat).
• Continuous audit throughout the year.
• Review of financial statements and issuance of an independent auditor’s report on a quarterly basis (quarterly financial statements).
• Review of financial statements for internal management purposes.
• Review and examination of the company’s financial system and issuance of a report on strengths and weaknesses.
• Other external audit services.

Beneficiaries of Financial Statement Audit Services (Financial Statement Review):

• Current company owners/shareholders.
• New or prospective investors.
• Zakat, Tax and Customs Authority (ZATCA).
• Investment Authority.
• Banks.
• Companies requiring contractor classification.
• Companies requiring engineer classification.
• Companies needing to submit financial statements to the Ministry of Commerce (Qawa’im Platform).
• Other regulatory and investment authorities interested in understanding the entity’s financial position and income.