BusinessFinancial Audit Services

Gateway Oman is offering the best financial audit services to ensure the integrity and transparency of the company’s financials. A financial audit is the appraisal of a company’s financial statement. The result of the financial audit is an attested and signed audit report by the professional and approved auditor, which shows that the company has presented an authentic, fair and unbiased financial statement.

Financial Statement Audit

The objective of a financial audit is to add credibility to the financial position and performance of a business. Through financial audit services, a company can be able to unlock valuable and worthy insights into the business.

A financial audit helps to identify the issues occurring in the internal management and critical deep insights that can help the company to address the present and future threats and challenges to take decisions accordingly. Gateway Oman is one of the top audit firm. Gateway Oman Auditing is providing best financial audit services in Oman

Types of Financial Statements

Gateway Oman offers financial audit services by gathering evidence and by proving a high level of assurance that the financial audit procedures are being followed by all the standards. Gateway Oman is offering four types of financial statement audit services which are:

Balance Sheet

A balance sheet is a type of financial statement which explains the financial position of a company; a balance sheet contains three major elements:

• Assets
• Liabilities
• Equities

Income Statement

An income statement is also known as a profit or loss statement which explains the company’s financial performance in terms of the net profit or net loss. The two main components of the income statement are:

• Income
• Expense

Cash Flow Statement

The movement in cash and bank balances over a period is called a cash flow statement. A cash flow statement involves three major activities which are:

• Operating activities
• Investing activities
• Financing activities

Change in Equity Statement

The statement of changes in equity presents the details of movement in the owner’s equity. It can be measured by the following components:

• Income statement
• Dividend payment
• Gains or losses

Purpose of Financial Audit

Companies produce financial statements that provide information about their financial position and performance. This information is used by a wide range of stakeholders (e.g., investors) in making economic decisions. Typically, those who own a company, the shareholders, are not those that manage it.

Therefore, the owners of these companies (as well as other stakeholders, such as banks, suppliers and customers) take comfort from independent assurance that the financial audited statements fairly present, in all material respects, the company’s financial position and performance. 

Importance of Financial Audit Services

The need for companies’ financial statements to be audited by an independent external auditor has been a cornerstone of confidence in the world’s financial systems.

The benefit of an audit is that it provides assurance that management has presented a ‘true and fair’ view of a company’s financial performance and position. An audit underpins the trust and obligation of stewardship between those who manage a company and those who own it or otherwise have a need for a ‘true and fair’ view, the stakeholders.

Gateway Oman professional approved auditors and are committed and seek challenges to dig deep and find out valuable opportunities based on a thorough understanding of the nature of business and its processes. To get quality and timely financial audit services, Contact Us!