Independent assurance that adds business value.
Audit and assurance services designed to provide transparency, confidence and practical insight for commercial, government and non-profit entities.
External audit adds value to commercial and non-commercial entities by providing an independent view on financial statements, internal controls and compliance. Madan conducts audit work in accordance with International Standards on Auditing and relevant ethical requirements.
The service supports businesses, government entities and non-profit organizations requiring independent examination of financial position, results and statutory compliance.
Our services include:- Audit of Financial Statements with Opinion on Internal Controls
- Audit of Financial Statements without Opinion on Internal Controls
- Audit of Final Accounts for Government entities
Internal audit provides an objective and unbiased view on governance, risk management, internal control and operations. It helps entities identify gaps, improve systems, strengthen controls and reduce business risks.
This is especially useful for entities experiencing growth, restructuring, ERP implementation, acquisitions, mergers or operational changes.
Our services include:- Comprehensive Internal Audit
- Specific-scope Internal Audit
- Financial Reporting Process Review
- Internal Controls on Stock
- Procurement Efficiency & Effectiveness Review
- Cost Cutting Process Review
- Organization Structure Design Review
- Documentation Process Review
Entities may need to review, examine and verify internal matters or report specific information to external parties such as banks, suppliers, vendors, lessors, government bodies or customers.
Our services include:- Report on Compliance with Bahrain Corporate Governance Code
- Report on Related Party Transactions
- Independent Verification of Figures
- Sales Verification for lease or franchise requirements
- Periodic Stock Count
- Fixed Assets Count
- Review of Transactions
- Review of Recoverable VAT from Minor Purchases
- Internal Controls Review (non-audit)
- Review of Accounting Policies, Practices & Procedures
- Verification of Progress Billing Reports, Supplier Statements and Internal Reports
Flexible assurance services help improve the quality, relevance and transparency of information used for decision-making. These services are tailored based on the entity’s specific requirements.
Our services include:- Adoption of Newly Issued International Financial Reporting Standards
- Risk Assessment
- Business Performance Review
- Information System Reliability
- Assurance on Valuations
- Tailored Assurance Services