Assurance& Auditing Services
NG has a team of highly qualified and experienced external auditors who have served across the Egypt with various clients from different industries, and they know how to customize their audit methodologies depending upon the external audit services requirements and client environment, We are objective and independent in our approach, and
we provide significant value to our audit and assurance clients, We have committed to delivering the best assurance services in Egypt.
Our teams can provide you with Premium assurance services in:
- External Audit Process
- Appointment
It’s the stakeholders of the company who propose to appoint us as external auditors.
We confirm the external audit engagement if we are fine with the scope of work, and we feel that our independence will not be compromised if we accept the engagement.
Our auditors ask the client to provide the necessary information concerning the company to gain a preliminary
understanding. Information such as company profile, key employees, memorandum of association, and articles of
association, past audit reports, internal audit reports, policies, and procedures is studied at length. The company is also
asked to keep books of accounts up to date and verified and make sure that supportive evidence is readily available.
Our external auditors prepare an audit plan after undertaking risk assessment and deciding about the analytical
procedures they want to apply. They also understand the regulatory requirements applicable to the entity and decide
about the nature, timing, and extent of audit procedures to perform.
In this stage, the actual audit work starts. Based on the audit execution plan, risks and controls are evaluated. The
external auditor satisfies himself as to whether the internal controls are operating as intended or not. The external
auditor also looks for evidence supporting the transactions under audit and checks overall compliance of the
accounting records with accounting standards and statutory requirements.
Based on the information gathered and auditors’ findings, the draft audit report is prepared. The external audit report
is then checked in all respects, finalized, and issued to the client.
Audit Follow-up
Finally, we follow up with the client as to the specific recommendations made in the audit report and verify the corrective measures taken.
Our External Audit Methodology:
– Understanding of the client audit environment
– Understanding of business cycles and processes
– Identification and study of internal controls
– Controls risk assessment
– Detection risk assessment
– Application of analytical audit procedures
– Documentation and issuance of the draft audit report
– Management representation
– Finalization of the draft audit report
– Issuance of the external audit report
Benefits of External Audit
– Fulfillment of statutory requirements
– Comparable financial statements
– Ease in getting funding for business expansion
– Validation of Internal control framework
– Strengthening of the internal audit department
– Higher Operational Efficiencies
– Earn Credibility
– Rectification of errors
– Get an Uninfluenced Opinion
– Reduce the Chances of Fraud
Issuance of External Audit Report
Based on the information gathered and auditors’ findings, the draft audit report is prepared. The external audit report is then checked in all respects, finalized, and issued to the client.