Audit

All our professional staff, including juniors, are university graduates. All the partners and managers as well as most of the senior staff are professionally qualified accountants, auditors and many hold international qualifications or equivalent Egyptian ones. Most of our professional staff has gained wide and long experience, working for large international accountancy and auditing firms, as well as the local ones in different activities such as:

A. Manufacturing and industrial.
B. Commercial.
C. Contracting, construction and real estate development.
D. Hotels and tourism.
E. Telecommunication and information technology.
F. Banks and financial institutions.
G. Oil exploration and oil field services.
H. Foreign companies branches and representatives, communication, and scientific offices.
I. Social societies and charity organizations.
J. Service activities.

Our Audit Approach:

We perform our audit in accordance with the Egyptian auditing standards and in the light of the applicable Egyptian laws and regulations. Our audit is performed according to the following steps:

Audit Planning

The audit planning includes setting a comprehensive audit strategy to decrease the audit risks to its minimum possible level.

Sound planning  for the  audit process helps to ensure that due diligence has been given to the important areas of the audit process,  the potential problems have been identified and resolved in time and the audit process is run in an efficient and effective manner.

At the end of this phase, we are able to determine the significant audit areas, their nature, the timing, the suitable procedures of the auditprocess  in addition to selecting the qualified team to carry out the required duties.

Interim Audit

During this phase and through the suitable audit procedures for this phase, we obtain more details about the accounting system used, the regulations and systems regulating various company operations through examining documents and evaluating the accounting system, the internal control systems and the points which have been highlighted during the planning stage and  should be taken into consideration. We also carry out tests to determine whether the systems are functioning as described.

Based on the assessment of the internal control systems and the results of the transactions tested, we determine the extent and nature of our audit to the  year – end  to be able to audit the financial statements of the client.

At this stage, we perform most of our work at the end of the year.

Final Audit

In this stage, financial statements prepared by the client are audited. We submit inquiries, observations and perform a small number of tests in order to identify any changes that occurred in the accounting and internal control systems after the interim audit.

Then, we perform the selected audit procedures designed to provide reasonable assurance as to the validity of the financial statements and to form an opinion on such statements.

Our report on the financial statements

In the light of the information and audit results during the various audit stages, we issue our auditor report on such financial statements.

Management letters

We prepare  the top management letter at the end of the interim audit as well as at the end of the audit giving our recommendations on the weaknesses in the accounting and the internal control systems and the other matters.

This provides our client with constructive advice for improving the accounting system and the internal control systems to help the management to achieve the  client’s objectives efficiently.

Ongoing contact with client

We maintain continuous communication with the management of the client to be acquainted with any developments and to update him regularly with any changes in the industry, laws, accounting standards and on any other areas related to the client.