An external audit is usually conducted by a third person and thus is much more unbiased. A company can avail of many benefits while conducting an external audit availing GSPU’s services. Some of these benefits are: Provides a Comprehensive Report: An external audit provides an overview of the business process and establishes that the information …
What are the Benefits of GSPU’s External Audit Services? Read More »
Is it crucial to choose an auditor who is aware of the latest technology? The world of business is a changing phenomenon. The dynamic only gets more intense as technology develops. With traditional methods of doing things making way for new business models, the next upheaval occurs sooner. The business environment changes quickly, and stakeholders …
Need to upgrade your business audit processes to use the newest technologies? Read More »
What is a Tax Audit? Tax Audit is basically the verification of the accounts of any taxpayer to make sure that the accounts are in compliance with the tax regulations.Tax Audits in Bahrain are conducted by the National Bureau for Revenue (NBR), which is responsible for the enforcement of tax laws in Bahrain. Key factors …
An audit simply means to evaluate and comment on the items that have been confirmed. Financial auditing entails going over the books of accounts and other pertinent information. This will provide the auditor with the information he needs to determine whether the accounts have been properly maintained and whether the appropriate statutory, accounting for financial …
COMPANIES REQUIRED TO SUBMIT AUDITED FINANCIALS IN BAHRAIN Read More »
Conducting an external audit can provide a company with several advantages. The most important of these advantages is that a third-party analysis of our organization would offer a fresh viewpoint on how things operate. The process of undertaking an external audit has several advantages: Affords a different viewpoint: Many businesses have an in-house auditing team …
Detecting Money Laundering Individuals In accordance with Decree (4) of 2001 Concerning the Prohibition of and Combating Money Laundering, Any person commits any of the following acts and is required to prove that the source of the money is lawful shall be considered a perpetrator of money laundering: Conducting any process related to the Proceed …
ANALYTICAL PROCEDURES CONCERNING THE PROHIBITION OF & COMBATING MONEY LAUNDERING Read More »
Businesses that supply products or services must register for VAT as a necessary requirement. The final consumer is ultimately responsible for paying VAT, which is a consumption tax that is included in the cost of products and services at every stage of the supply chain. Businesses who register for VAT can collect and submit VAT …
VAT Registration: One of the primary challenges that businesses face is understanding the VAT registration process and meeting the requirements for registration. This includes understanding the thresholds for registration, how to obtain a Tax Registration Number (TRN), and the necessary documentation required for registration. VAT Compliance: Another challenge for businesses is ensuring that they remain …
What are the most common VAT challenges for businesses? Read More »
The advantages of undertaking a business external audit are numerous. Some common benefits are listed below: 1.External Audit is useful when it comes to understanding the business:All the information regarding the business will be provided by the auditor. The report thus prepared will be applicable at many levels by the business investors and the company …
RELEVANCE OF EXTERNAL AUDIT IN RUNNING A BUSINESS Read More »
Following the registration of a company, the company must adhere to several regulations. Conducting an audit is one of these requirements that all businesses, regardless of size or industry, must adhere to. A company audit entails checking the accuracy of its books of accounts. An audit of a company’s financial statements is intended to allow …
Getting ready for an audit?Examine the relevant documentation. Read More »
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