Financial Assurance
Audit assurance that gives your stakeholders confidence in the credibility and transparency of your financial statements.
Our collective experience and audit approach gives your stakeholders solid assurances on the credibility and transparency of your financial statements — and identifies the material risk areas in your financial system.
What We Offer
- Risk-Based Approach — We map the financial, operational, and going-concern risks before fieldwork begins — so audit procedures focus on the material risks.
- Internal Controls Review — We evaluate your control environment for deficiencies that affect financial reporting reliability.
- Independent Auditor’s Report — Reports issued under Egyptian Standards on Auditing — accepted by Egyptian banks, the FRA, and international investors.
Frequently Asked Questions
What is a financial audit?
A financial audit is an independent examination of a company's financial statements, conducted by an external auditor to express an opinion on whether those statements give a true and fair view of the company's financial position and performance, in accordance with the applicable accounting framework. In Egypt, financial audits are performed under the Egyptian Standards on Auditing (معايير المراجعة المصرية) issued by ministerial decree. The framework is being updated by Prime Minister Decree 3725 of 2025 (the Egyptian Standards on Auditing, Review, and Other Assurance Engagements), which takes effect 1 January 2027. What the audit covers: Examination of financial records. The auditor inspects the accounting books (general journal, general ledger), supporting documents (invoices, contracts, bank statements), and the financial statements derived from them. Evaluation of internal controls. The auditor reviews the company's control environment — how transactions are authorised, recorded, and reviewed — to assess the risk of material misstatement in the financial statements. Substantive testing of transactions and balances. The auditor performs detailed testing on samples of transactions and balances to gather sufficient and appropriate audit evidence supporting the reported figures. Issuance of the Independent Auditor's Report. The auditor concludes with a formal opinion on whether the financial statements are free from material misstatement and present fairly in accordance with the applicable framework (Egyptian Accounting Standards or IFRS). The audit must be performed by a registered chartered accountant (محاسب قانوني) licensed in Egypt who meets the independence and professional-standards requirements applicable to the engagement.
When does an Egyptian company need an external financial audit?
Most incorporated Egyptian companies need an annual external audit by a registered chartered accountant (محاسب قانوني). The main triggers: You're a joint-stock or limited liability company. Both forms must appoint a statutory auditor under the Companies Law (159/1981). The auditor's report is presented at the annual General Assembly and filed with GAFI. You operate in a regulated industry. Banks, insurance companies, securities firms, leasing and factoring companies, asset managers, and any other entity supervised by the Central Bank of Egypt or the Financial Regulatory Authority must submit audited financials to their regulator — often more frequently than once a year. You're listed on the Egyptian Exchange. Listed companies file audited financials with EGX and the FRA on a quarterly basis, in addition to the annual report. You're applying for a bank loan or significant credit facility. Egyptian banks routinely require recent audited financial statements before extending credit, even when the audit isn't otherwise legally mandated for your entity type. You're a target in due diligence — M&A, investment, or public tender. Foreign investors, acquirers, and public-sector procurement teams expect audited financials as a baseline qualification document. The main exception: small enterprises operating under the Simplified Tax System (Law 6/2025) — annual turnover up to EGP 20 million — fall under the reduced reporting regime described in the Outsourced Accounting Q1, with lighter audit obligations than the standard framework.
What is the Independent Auditor's Report?
The Independent Auditor's Report is the formal written output of a financial audit, signed by the registered chartered accountant (محاسب قانوني) who conducted the engagement. It is the document that banks, regulators, investors, GAFI, and shareholders receive alongside the financial statements. The report's central element is the opinion — the auditor's statement on whether the financial statements present fairly, in all material respects, the company's financial position and performance under the applicable framework (Egyptian Accounting Standards or IFRS). The opinion takes one of four forms: Unqualified opinion (رأي نظيف). The financial statements present fairly under the applicable framework. No material misstatements, no unresolved scope limitations. This is what a clean audit produces and what banks, investors, and regulators look for. Qualified opinion (رأي متحفظ). The financial statements are fairly presented except for a specific identified issue — a misstatement or scope limitation that is material but not pervasive. The qualification is described in a separate paragraph. Adverse opinion (رأي عكسي). The financial statements do not present fairly under the framework. Misstatements are both material and pervasive. Rarely issued in practice; signals a serious accounting problem. Disclaimer of opinion (الامتناع عن إبداء الرأي). The auditor was unable to obtain sufficient evidence to form an opinion at all — scope limitations so significant that no conclusion can be drawn. The report also includes standard sections describing the basis for the opinion, the responsibilities of management (preparing the financials) and the auditor (forming the opinion), and — for listed and public-interest entities — key audit matters highlighting the most significant areas of audit focus during the engagement. For Egyptian audits, the report typically includes additional paragraphs on compliance with the Companies Law (159/1981) and any matters required by sector-specific regulators.
Contact
16 Hedaya Basha Street, Gleem, El Raml 2, Alexandria, Egypt
Email: info@inspect-solutions.com
Office hours: Saturday – Thursday, 9:00 AM – 5:00 PM