dont worry too much and always keep in mind wirecard, enron etc etc etc have all been properly audited. 😉
How does a financial statements audit work?
- Thread starter yngmind
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The audit is indeed often a misunderstood service.
Auditors are incentivised to maintain good client relationships and boost confidence for shareholders and other users of company accounts. That's what you are actually paying for.
lol, facts: EY has warned of going concern risks for just 20% of collapsed firms (in the UK)
Source:
https://auditreformlab.group.shef.ac.uk/reward-for-failure/
Auditors are incentivised to maintain good client relationships and boost confidence for shareholders and other users of company accounts. That's what you are actually paying for.
lol, facts: EY has warned of going concern risks for just 20% of collapsed firms (in the UK)
Source:
https://auditreformlab.group.shef.ac.uk/reward-for-failure/
Audit of accounts is mandatory for Free zone companies (FZCO) and Free Zone establishments (FZE) but for some local or foreign companies, it may not be mandatory.
The commercial companies law states that the audit of accounts is mandatory for mainland companies. Every company must appoint an auditor to auditor for auditing their books of accounts authorized and licensed auditor, but many companies are not mandated to follow the requirements.
The commercial companies law states that the audit of accounts is mandatory for mainland companies. Every company must appoint an auditor to auditor for auditing their books of accounts authorized and licensed auditor, but many companies are not mandated to follow the requirements.
322. Ministerial Decision No. 82 of 2023 does not alter current obligations under the domestic legislation to prepare audited Financial Statements, but rather confirms such obligation solely for the purpose of the application of the Corporate Tax Law.
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