External Audit in Qatar
External audit is an independent examination of a company's financial statements, carried out by an auditor with no connection to the company being audited. The result is a formal opinion on whether the statements give a true and fair view and are prepared in accordance with the applicable accounting standards, usually IFRS in Qatar.
Who relies on an external audit
- Shareholders and board members, for oversight of management.
- Banks and lenders, before extending or renewing finance.
- A parent company abroad, for group consolidation.
- Government bodies and regulators, where an audit is a filing requirement.
- Potential investors or buyers, during due diligence.
How the engagement runs
We plan the audit around your business and its risks, not a generic template. Fieldwork tests transactions, balances and disclosures against supporting evidence, and reviews the design and operation of your key controls. We agree any proposed adjustments with you before finalising the statements, then issue the audit opinion and management letter.
First-year audits
If this is your first audit, or your first with us, we usually need more time to understand the business, the accounting policies used to date and the opening balances. We flag this at the proposal stage so the timeline and fee reflect it honestly, rather than quoting a repeat-year price for first-year work.
How it works
Engagement & scoping
We agree the scope, timeline and fee for your audit engagement.
Fieldwork & testing
Our team reviews controls, transactions and financial records on-site or remotely.
Findings & reporting
We report findings, adjustments and recommendations clearly.
Sign-off & follow-up
We finalise the audit opinion and remain on hand for any follow-up.
Frequently asked questions
An audit gives the highest level of assurance, based on testing evidence. A review gives limited assurance based mainly on inquiry and analysis. A compilation gives no assurance and simply presents the figures you provide. We can advise which one your bank or investor actually requires.
A straightforward company can complete fieldwork and reporting within a few weeks. Complexity, group structures and how audit-ready your records are can extend this.
Trial balance, bank statements and reconciliations, supporting schedules for major balances, and prior year statements if this is not our first audit of you. We send a specific list once the engagement is agreed.
Yes, including where the parent company is outside Qatar and needs the local accounts audited for group consolidation.
Yes, through a management letter alongside the opinion, covering control weaknesses and other observations worth fixing.