An annual statutory audit is a fixed milestone for companies in Saudi Arabia: audited statements feed your QAWAEM filing, support your ZATCA declarations and underpin the confidence of banks and investors. Audits go smoothly when the books arrive reconciled and the evidence is organised in advance. They stall when the finance team is still assembling schedules while answering auditor queries at the same time.
What this covers
- Audit readiness review: assessing your trial balance, accounting policies and documentation before fieldwork starts, so known issues are fixed rather than found.
- Account reconciliations: clearing bank, intercompany, supplier and customer balances, and aligning VAT and Zakat-related accounts with what has already been filed.
- Schedule preparation: building the supporting schedules and requested-documents lists your auditor expects, mapped line by line to the financial statements.
- Query management: acting as the single point of contact for auditor questions, tracking every request and closing each one with a documented answer.
- Adjustment handling: evaluating proposed audit adjustments, booking the agreed entries correctly and explaining their effect on your reported results.
- Post-audit follow-through: turning management letter points into a prioritised action list so the same findings do not reappear next year.
How Innovant delivers
Innovant works alongside your finance team, not in place of your auditor, which keeps independence intact while removing friction from the process. We plan backwards from your filing deadlines, prepare the audit file to the standard Saudi firms expect, and stay engaged until the signed statements are delivered. Your team keeps running the business while we keep the audit moving.
If last year’s audit ran late, over budget or into avoidable disagreements, prepare differently this time. Talk to an advisor and start your next audit from a fully reconciled position.