Audit & Financial Statements

Four professional engagements, four different reports: the audit (reasonable assurance and an opinion), the review (limited assurance and a negative-form conclusion), the compilation (no assurance) and agreed-upon procedures (factual findings). Who accepts which in Saudi Arabia — the Ministry of Commerce, contractor classification, local content, the banks — and how to choose in two minutes. ... Read more

The four types of auditor opinion and the decision matrix between them, the difference between an adverse opinion and a disclaimer, what does not modify the opinion, and common causes of qualification. ... Read more

The six-month deadline for filing financial statements on Qawaem and the timeline that precedes it, responsibility by company type, required documents and common filing errors. ... Read more

Audit exemption thresholds for micro and small enterprises under the Saudi Companies Law, the declaration required for the exemption, and who loses it despite being small. ... Read more