Having your business audited is a legal requirement, and we have a responsibility to conduct it ethically and independently. But it needn’t be just a formality, when undertaken by the right people; an audit has value that stretches well beyond keeping your stakeholders happy.

Our approach to audit is constructive and businesslike. The process gives us an opportunity to understand exactly how your business and its financial systems have been performing, and to identify how that performance could be improved. You can also be assured that our audit work is organized in such a way as to minimize interruptions to your operations.

Our audit and assurance services include:

  • Audit of financial statements
  • Internal audit and risk consulting
  • Due diligence reviews
  • Agreed-upon procedures
  • Forensic and other investigations
  • Internal Control Reviews (ICR)
  • AML & CTF reviews
  • FATCA and CRS compliance reviews

 

Our client base in Kuwait includes major companies listed in Kuwait stock exchange. We are proud of the trust we have earned from shareholders and the top management of our clients over the years.

  1. External Audits

1.1. Regular Annual Audits

1.2. Special Purpose Audits

If you are interested to examine the financial statements and accounting records in order to express opmion on the fair presentation of the financial statements and their compliance with International Financial Reporting Standards (IFRS) and other regulatory rules and requirements such as State of Kuwait’s Companies Law No. (1) of 2016 and its Executive Regulations, the relevant ministerial resolutions and instructions, and the resolutions and instructions issued by the regulators in the State of Kuwait (e.g. Central Bank of Kuwait, Capital Markets Authority and Ministry of Commerce & Industry) as applicable in this regard, PKF can deliver Review Reports.

Modem internal auditing is designed to help an organization accomplish its objectives and to bring a systematic and disciplined approach to evaluating and improving the effectiveness of risk management, control and governance processes. Our global internal audit professionals have the unique ability to identify potentials of improvements and add value. We can provide internal audit resources on either a co-sourced or out-sourced basis.

 

Our services include:

 

2.1. Co-Sourced Internal Audit

2.2. Internal Control Reviews

As per the various circulars issued by Central Bank of Kuwait (CBK) from time to time, banking and investment companies are mandated to comply with ICR regulations. The ICR auditors are to provide their opinions and remarks on whether the regulations and internal control systems are sufficient enough in quality and quantity to manage the risks that the company faces in its day-to-day business.

 

2.3. Corporate Governance Reviews

  • Corporate Governance Design
  • Corporate Governance Compliance
  • Board Effectiveness Reviews

 

2.4. AML and other Compliance Reviews

2.5. Risk Advisory Services

 

Our Risk Advisory teams help navigate through the challenges surrounding governance, risk and compliance. Our team is comprised of highly trained professionals with extensive business and industry expertise, technical acumen, and the ability to identify and apply best practices. We combine process and system benchmarking experience with organizational knowledge. We have Risk Advisory Specialists throughout the world who can deliver services that help your enterprise to mitigate your economic, regulatory and compliance risk

If you are interested to review specific financial information in accordance with agreed upon procedures and provide a factual findings report, PKF can deliver AUP Report. The independent auditor should comply with the requirements of International Standard on Related Services (ISRS) 4400 “Engagements to Perform Agreed-Upon Procedures Regarding Financial Information.”

Forensic specialists are frequently called upon in the following engagements:

  • Appraisal of fmanciallosses resulting from fraud
  • Appraisal of damage resulting from prejudicial acts
  • Preparation of expert opinions and second opinions
  • Assisting solicitors in the financial aspects of cases
  • Intervention as arbitrators or mediators in dispute resolution

We’re your trusted advisor, your expert witness, your investigator, and your representative in mediation and arbitration.

PKF have experts who are highly experienced in providing testimony in court, drawing on accounting, auditing, tax and financial expertise as well as their specific knowledge of court procedures.