External Audit
Auditing is a systematic, independent examination of a company’s data, statements, records, and activities — both financial and non-financial — to gather and evaluate evidence and form a professional opinion through a report covering a defined period. As one of Qatar’s licensed audit firms, we take pride in shaping our approach to meet our clients’ audit requirements.
External audit means verifying the accuracy of a business’s financial operations and records through the services of an external auditor. Accountants and auditors who work independently of the company under review are external, independent auditors — a process essential for all companies to remain compliant with the laws of the State of Qatar and with accounting and financial standards. We are able to help identify current or imminent issues, if any, and confirm the accuracy of the organization’s financial data.
What is External Audit?
External audit is an examination carried out by an independent chartered accountant, generally intended to produce a professional opinion on the financial statements of companies, institutions, or authorities. This opinion or certification is required by official bodies, the General Tax Authority, certain investors and lenders, and all publicly-owned companies.
Bader Farhan Al-Ahmad Office for Accounting, Auditing & Consulting provides external audit services in the State of Qatar in accordance with international laws, regulations, and standards. Our year-end external review services aim to ensure that the financial and other information provided by companies is reliable and compliant with legal and international financial reporting standards.
As an auditor registered with the Ministry of Commerce and Industry, registration No. 456, and a member of the Qatar Society of Certified Public Accountants, we provide diverse, multidisciplinary technical skills and support to our clients. Our work undergoes continuous inspection, development, training, and updating through ongoing learning, education, and training, to ensure that the quality of the audit engagements we perform through our office meets recognized accounting and professional standards.
Scope of External Review
Our audit and assurance practice provides, first and foremost, verification of financial data accuracy and integrated audit services. Our goal is to improve financial reporting processes and compliance with international accounting and auditing standards.
Our tried-and-tested approach, together with our multidisciplinary, experienced team and effective procedures, delivers audit and assurance services that meet the highest standards — so we guarantee that our service is independent, unbiased, professionally objective, and technically excellent.
Our External Audit Process
- Planning: We work to understand the company’s business and potential risks, and build our audit plan to obtain reasonable assurance about whether the financial statements are free of material misstatement. This includes: signing the engagement letter, the first meeting with the client, defining the audit’s scope and objective, planning resources and timing, and reviewing internal controls and the audit program.
- Evidence Gathering and Examination: On a test basis, we examine all amounts and disclosures in the financial statements against their supporting documents. We also review accounting policies and procedures for compliance with accounting, legal, and other required standards — through control testing, transaction testing, and review and supervision.
- Data Analysis and Audit Report Preparation: We review and audit the financial statements, prepare the independent auditor’s report, and express our opinion on the financial statements. We discuss with our clients any weaknesses identified during our audit and offer suggestions to address them and improve business operations and accounting systems — through documenting audit working papers, drafting reports, discussing the draft with the client, and finally issuing the final audit report.
Why Bader Farhan Al-Ahmad Office for Accounting, Auditing & Consulting?
Sound business or management decisions require reliable information for financial reporting. We work with all types of companies, institutions, and authorities to help managers, business leaders, and stakeholders across every sector communicate a fair picture of their financial performance.
Our experienced, trusted advisors can help with a wide range of complex business issues and transactions. Thanks to our technical expertise, we can offer recommendations to improve your company’s financial function efficiency, clarify effective employee benefit programs, or extract value from large volumes of data.
Internal Audit
Internal audit engagements evaluate a company’s internal controls, including corporate governance and accounting processes. These audits ensure compliance with laws and regulations and help maintain accurate, timely financial reporting and data collection.
Bader Farhan Al-Ahmad Office for Accounting, Auditing & Consulting provides internal audit services to its clients here in the State of Qatar to assess their business risks and controls and improve work procedures and performance.
When conducting an internal audit, we provide a comprehensive review of the company’s policies and procedures, test compliance with internal requirements and external audit standards, share best-practice recommendations, cost-saving tips, risk-mitigation advice, and suggest additional revenue sources you may not currently be leveraging in your line of business.
Our Internal Audit Services
- Compliance with the organization’s policies and procedures.
- Performance and operational efficiency.
- Fraud deterrence and investigation.
- Asset protection.