Continuing globalization will increase the complexity of principles, regulations, and the cultures in which organizations operate. The opening of Saudi Arabia to Direct Foreign Investment increases this complexity. This complexity and ever changing environment will carry important compliance implications. Further, growing competition will increase the pressure on organizations to enhance the underlying performance.
The principal objectives of the Statutory Audit is to ensure that the financial statements i.e. the Balance Sheet, Profit & Loss, and Cash Flow Statement give a true & fair view and are free from any material misstatements.
Our methodology to Statutory Audit of the financial statements is to provide reasonable assurance that the accounts have been prepared in accordance with the Generally Accepted Accounting Principles (GAAP) and is free of any misstatements, errors, and discrepancies. Risk consideration is a key factor in our methodology, which highlights, evaluates, ranks, and quantifies relevant risks. With more risk focused methodology, BMB&Co. can be more efficient and effective in adding value from the Statutory Audit. In addition, to the traditional statutory audit, BMB&Co. also help the clients by monitoring organizational ethics, conducting effective reviews of operational and financial performance, assessing the quality, economy, and efficiency of their operations, and suggesting continuous improvement strategies.