Audit & Assurance

MHMY is at the forefront of improving the quality of statutory audits. The firm combines international standards with local knowledge of the legal frame works. Our audit process is rooted in a close and sound understanding of the client, the business and its environment. Our audit emphasis planning and conducting the work in accordance with International Standards on Auditing (ISAs) pronounced by International Auditing & Assurance Standards Board (ISAB) under the auspices of International Federation of Accountants (IFAC) and applicable requirement of Omani laws, determining the key risk areas and issues critical to the audit and communication results with suggestions to management.

Our Statutory Audit services comprise:

  • Testing of Transactions and the effectiveness of Systems Controls;
  • Reports to Management will follow Interim and Final Audit visits and not only will cover comments on current systems but extend to providing suggestions for improvements in existing systems or operations;
  • Audit procedures will be planned to concentrate on identified areas of high risk;
  • Our Audit will conform to International Financial Reporting Standards.

Our audits are structured to provide our clients:

  • fresh perspectives on opportunities to enhance continuous improvements in their financial processes, controls, risk management and corporate governance.
  • a clear and consistent focus on key issues.
  • continuous feedback.
  • timely reporting.
  • a year-round, hands-on involvement that aims to anticipate issues and provide practical support in resolving them on a timely basis.
  • Business orientation.

Other Attestation & Assurance Services

Companies may sometimes prepare prospective financial information in a context where there is a regulatory requirement for information to be reported on by an independent external firm. Audit services also include a wide range of other forms of attestation services and reports. We are often called upon to assist clients issue reports on examinations, reviews or agreed-upon procedures. These services cover many needs for attestation that are outside the financial statement audit requirements.