Audit & Assurance
The audit & assurance is the process of evaluating the accounting process present in the company. The audit checks the accuracy of financial reports. It ensures that the financial statements are presented ethically, fair, true, and accurate. Assurance is reviewing and assessing the companies’ processes, operations, procedures, etc. It verifies that the financial reports are prepared and presented as per accounting standard and principle.
Statutory / External Audit
An independent assessment of the financial accounts of a company or
institution. As an Auditor we report on whether the financial statements issued
by an organization are ‘true and fair’ and meet all relevant guidelines or legal
requirements. This is conducted as per the legal requirement.
Tax Audit
A tax audit is the process of verification and inspection of the accounts of a
taxpayer to confirm their adherence to the provisions of the Income Tax law.
Internal / Management Audit
An internal audit evaluates the effectiveness of a company’s internal controls,
corporate governance, and accounting processes. It is an independent,
objective assurance and consulting activity designed to add value and improve
an organization’s operations. The management of the entity appoints the
internal auditors to evaluate and report to them directly.
Financial Review
A Financial Review is a limited assurance engagement of verifying all the
financial transactions making sure the financial objectives and process are
followed properly. It ensures that the spending is no more than necessary.
Limiting the analysis to analytical procedures and assessment of
management, it evaluates the business records.
Fraud Investigation
A fraud investigation is aimed at examining evidence to determine if
a fraud occurred, how it happened, who was involved, and how much money
was lost.
Financial Due Diligence
The due diligence involves an investigative analysis of a business. It is an
investigation, audit, or review performed to confirm the facts of a matter under
consideration by
• assessing the key issues facing the business
• the drivers behind profits and cash flows,
• identifying the key financial risks
Performance Audit
It is a management audit evaluating the performance of the entity. It is
designed for the partners of the entity to know the results of their business.
Compliance Audit
A compliance audit is an independent evaluation to ensure that an
organization is following external laws, rules, and regulations or internal
guidelines, such as corporate bylaws, controls, policies and procedures.
CbCR Reporting
CbCR submission is mandatory for Ultimate Parent Entities (“UPE”), that are a
tax resident in Qatar, which has reported consolidated revenues equal to or
more than QAR 3 billion (approx. EUR 700 million or USD 824 million) in the
previous financial year, The CbCR submission will need to include all qualifying
constituent entities. If the Ultimate Parent Entity is resident outside Qatar,
CbCR reporting, or notification obligations does not apply to a tax resident in
Qatar.