Financial Statement Audit for Companies in Bahrain
We help companies complete their financial statement audit requirements, from defining the engagement scope and preparing the requirements to issuing the auditor's report and opinion.
- Financial statement audit and an independent auditor's report
- Clear requirements before the engagement starts
- Understanding of your activity and records
- Professional follow-up until deliverables are handed over
Contact Us
Tell us why the audit is required and which financial year it covers, and we will explain the next step.
The right service starts with understanding why the report is needed
You may need an annual audit, a specific review, or financial documents for a lender. We first look at your company and the purpose of the report, then define the right service, its scope and what is required to deliver it.
Financial Statement Audit
Auditing records, statements and supporting evidence, and issuing the auditor's report and the appropriate professional opinion in line with applicable standards and requirements.
Annual Audit
Auditing the financial year statements required for companies subject to legal or contractual requirements, with the necessary reports defined case by case.
Internal Audit
Reviewing internal controls, risks and compliance procedures and providing actionable observations within an agreed scope; this is different from an external audit.
Special Reviews and Examinations
A defined assignment for a specific financial or contractual purpose, with procedures, responsibilities and the form of results agreed before execution.
Bank and Investor Requirements
Identifying the reports or reviews required by the relevant party, then performing what falls within the agreed professional engagement.
Solvency or Good Standing Letters
Assessing whether the requested letter can be issued, whether its conditions apply and its validity, based on the requesting party's requirements and the service scope.
When does an audit report become a necessary step for your company?
The need for an audit depends on your company's legal form and the requirements of the parties involved. Here are situations where it is worth reviewing your requirements:
At Financial Year End
When your company's legal or contractual position requires audited statements for the completed year.
When Applying for Bank Financing
When the bank requires an audit report as part of the financing documents.
When an Investor or Partner Joins
When the other party needs audited financial information to make a decision.
To Meet an Official Requirement
Such as requirements linked to the company type, or filing reports through Sijilat where applicable.
For Your Company's First Audit
We define the starting point, the periods required and the documents to prepare together with you.
When Your Company Changes
Restructuring, a new partner or a change in legal form may require reviewing the related reporting requirements.
From your first inquiry to report delivery… steps you know in advance
We don't start by asking for piles of files at once. We understand your company's position, define the documents and responsibilities, then carry out the work within an agreed scope.
Understand the Request
We define the purpose of the report, the activity, the legal form and the financial year required.
Review Previous Audits
We check whether the company has been audited before and what records are available.
Define Scope and Requirements
We clarify the initial documents and responsibilities, the scope of work and the professional engagement.
Plan and Examine Evidence
We organize audit procedures, examine records and evidence, and discuss matters that need clarification.
Prepare the Auditor's Report
We complete the professional assessment and issue the report and opinion based on the findings and relevant requirements.
Deliver Report and Outputs
We deliver the report and outputs, and support filing through Sijilat if included in the agreement.
A party has requested an audited report… is your file ready?
Financial statements alone may not be enough. Send us the reason for the report and the financial period, and we will help you define the audit scope and initial requirements before the engagement starts.
What does your company receive when the audit is complete?
Deliverables are more than files the company collects. In a financial statement audit engagement, you receive documents and reports defined by the scope of work and the audit findings:
Audited Financial Statements
Statements for the relevant period after procedures are completed and management takes responsibility for them.
Auditor's Report
The professional report issued from the engagement and addressed to the relevant parties in line with applicable standards.
Auditor's Opinion
An opinion based on the evidence and findings, which may be modified where circumstances require.
List of Required Documents
The information and records needed to complete the work, and follow-up on anything still outstanding.
Professional Observations Where Applicable
Observations or recommendations provided when they are part of the agreed deliverables.
Annual Report or Filing Support
Help preparing or filing the outputs through Sijilat, only when included in the engagement scope.
We understand your business before defining the audit documents
Contracting contracts differ from retail inventory, and service revenue is not like real estate revenue. That is why we consider your sector's business cycle and records when planning the audit.
Contracting
Projects, contracts, progress claims and project costs.
Trading and Distribution
Sales, purchases and inventory.
Retail
Sales movement, points of sale and inventory.
Manufacturing
Production cost, materials and inventory.
Food and Beverage
Purchases, sales and inventory management.
Professional Services
Revenue, contracts and operating expenses.
Real Estate
Contracts, revenue and related assets.
Healthcare
Operating revenue, purchases and related claims.
We review the numbers in the context of the business behind them
The Trust Circle team combines expertise in accounting, auditing and financial advisory. We start by understanding the business, its reports and controls, then clarify the scope and requirements of the engagement before carrying out the necessary professional procedures.
Connected Financial Expertise
Experience in accounting, auditing and financial advisory to understand every engagement in its context.
Focus on Records and Operations
We don't look at numbers in isolation from the contracts, procedures and controls that produced them.
Clear Engagement Scope
We define what is required, each party's responsibilities and the deliverables before procedures begin.
Sector Understanding
We handle the different documents and financial risks of each type of business.
Organized Professional Follow-up
Clear communication on inquiries, documents and next stages.
Professional details you can verify
Before assigning the audit of your financial statements, you have the right to know the engaging firm and the auditor authorized to sign. We display registration, license and professional registration details once they are approved and verified.
An audit firm licensed by the Ministry of Industry and Commerce in the Kingdom of Bahrain
Audit engagements are carried out in line with the relevant professional standards, consistent with the license and the approved engagement scope.
Request a quote to audit your company's statements in Bahrain
Share the basic information about your company and the purpose of the audit. Our team will review your request and contact you to define the initial documents and the nature of the engagement before preparing the quote.
- You send your company details and the reason for the audit.
- Our team reviews your request and contacts you to understand the requirement.
- We define the initial documents and the engagement scope, then prepare the quote.
Request an Audit Quote
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