Services of financial statements

⇒ Through our office, “Ali Abd El Hafez “, legal accountants and consultants, you would be able to set or evaluate the internal control system through which you can provide protection to the assets of the corporation, and provide confidence in the accounting statements, promote the production efficiency, then verifying the extent of their compliance with the requirements of the drawn administrative policies.

⇒ Provide suitable system of internal control will provide a marvelous work environment, which will by itself contribute to minimize the rotation rate

Labor and maintenance of teamwork spirit and therefore increasing the rate of return on investment

✔ The availability of a proper system of internal control will be the cornerstone of all the scrutiny and auditing works, and this will facilitate much of the comptroller’s work and approve his issuance of a reservation-free report.

✔ The accounting system includes the following main components:

• Book group and account manual
• Documentary group and copy of the different models to be used in the different operations
• Operation cycle of the main activities in the corporation
• Internal control- and the main measures to be followed

in the field of auditing:

A) Auditing of financial statements:
The financial statements are audited according to the Egyptian and international standards of auditing and accounting, and all the legal requirements. In addition, we prepare the program of auditing measures in detail such that agree with the activity nature and flow of the corporation operations.

– The office meets the customers’ needs to conduct the periodical and final auditing through the stages of the following auditing operations:

♣ Planning of the auditing process
♣ Evaluation of the accounting and internal control systems
♣ Testing the internal control systems (control tests)
♣ Examining the transactions and balances (verification tests)
♣ Comprehensive inspection and approval of the financial statements

B) Internal Auditing:

The internal auditing works of the companies and firms shall be conducted as follows:

♣ Confirming that the company follows the bases, policies and plans set by the supreme management
♣ Identifying the deficits and how to facilitate the obstacles and present that the recommendations in that regard so that the company can achieve its objective at the maximum possible efficiency.
♣ Working to detect the problems that the supreme management may not have time to follow up, and suggesting the required recommendations to solve and manipulate them.
♣ Confirming the safety and veracity of the circulating documents in the company whether internal or external.
♣ Internal auditing shall include all the transactions and activities in all the lower and higher management levels of the company.

Accounting Supervision:

The scope of our work shall include the accounting supervision of the financial activities of the corporation and periodical follow up to confirm the veracity of the results and following up the recognized accounting rules to realize the veracity and accuracy of the results drawn from the accounting records. It shall include the following points:

♣ Auditing of the internal control system to confirm its adoption and veracity of its measures
♣ Supervising the veracity of accounting orientation
♣ Confirming that the firm follows the main system and the management decisions.
♣ Confirming the enforcement and follow up of the accounting system
♣ Supervising the holding of books, accounting registers and financial reports
♣ Conducting the required tests to achieve their duty and confirm the veracity of the results
♣ Presenting a report that includes the weaknesses that we identify through the supervision and presentation of the recommendations in this regard

Blue Modern 5 Steps To Making Financial Statements For Beginners Infographic

Our approach in managing the auditing process

Reports that we issue	General framework of the task	Auditing plan
√ Matters with important risks √ Auditing plan √ Stage matters to be identified √ Schedules and common responsibilities	Coordinating with the management to meet the officials in the financial department of planning, and agreeing on the schedule and determining the accounting objectives and problems, and any other matters that require special concern. Preparing the staged and final auditing programs that match the conditions of the group and cover the important matters to be determined during the planning meetings. This shall include the evaluation of the control measures applicable in the automated processing mechanisms	Planning the auditing works after having the engagement letter
√ Supplying the supreme management with our visions of the important matters and subjects	Executing the phased auditing and testing the control measures and auditing measures on computer, and auditing and issuing the phased management letter and meeting with you to discuss the critical matters that require solutions before the end of the financial period to save time and to complete the final auditing in time. Sending the ratifications of the balance sheets of the banks, creditors and debtors directly, and attending the fund inventory and stock sorting, and completing any other auditing measures before the year end	Works of phases auditing
√ Draft financial statements √ Note of the auditing observations √ Report of the comptroller √ Report of the management	Completing the works of final auditing and discussing the results with the senior officials, and solving the auditing reconciliations, if any, and having the representation letter, and therefore issuing our professional report and the final management report. It should be noted that we need a period from three to four weeks to issue our draft final report on the scrutinized financial statements with a list of the pending matters as of the date of receiving all the required documents and information to end the auditing works.	Works of final auditing

Organizational Structure of the Office

The office has established its organizational structure on a unique professional level based on the following main supports.

First: the main technical and professional staff of the office: they work in the headquarter of the office in Cairo, and assume the responsibilities of direct work as the analytical studies and researches.

Second: assistant technical and professional staff: who are called to attend from within Egypt and from abroad when needed to involve its members in the studies and consults that require a high degree of specialization.

Third: experience houses and research centers: That are related in work relations with the office and the office employs their experiences and potentials when needed to contribute to achieve the studies that require their involvement.