Companies in Saudi Arabia are generally required to have their annual financial statements audited by a licensed audit firm, and those audited statements feed regulatory, banking and tax processes. How an audit goes is largely decided before the auditors arrive, by the state of the reconciliations, schedules and documentation waiting for them. Audit support closes that gap so fieldwork examines your numbers instead of reconstructing them.
What this covers
- Readiness review: assessing the books against the auditor’s likely requirements and fixing weak areas before fieldwork begins, not during it.
- PBC preparation: building the schedules, reconciliations and supporting documents on the prepared-by-client list, indexed so the audit team finds what it needs first time.
- Financial statement drafting: preparing IFRS financial statements and disclosures for the auditors to examine, rather than leaving drafting to happen inside the audit itself.
- Query management: acting as the day-to-day contact for auditor questions, sample selections and evidence requests, so your team is not pulled from operations.
- Adjustments and findings: evaluating proposed audit adjustments, booking agreed entries and documenting the reasoning where you take a different position.
- Timeline coordination: keeping management, the audit firm and any group auditors working to one agreed schedule through to signature.
How Innovant delivers
Innovant starts well before fieldwork with a readiness pass over the books, then manages the audit as a project with an owner, a file and a deadline. Because our accountants know what auditors in the Saudi market ask for, requests are anticipated rather than reacted to. Your finance team keeps running the business while we keep the audit moving.
If your next audit deadline is approaching or your last one was painful, Talk to an advisor about audit preparation for your entity.