Comprehensive Audit Services for Your Business in Jordan
Clear Solutions Group offers top-tier audit services designed to ensure the accuracy of your financial records and compliance with Jordanian regulations and laws. Our expert team provides precise audit services to businesses of all sectors (service, commercial, and industrial) and all sizes.
is a systematic examination of financial records, ensuring accuracy, compliance, and transparency. It is essential for protecting investors’ interests, maintaining trust among partners, and verifying the accuracy of financial information.
Auditing did not arise by chance but from the necessity for a supervisory system over accounting practices. This need first emerged among governments, with ancient Egyptian and Greek governments using auditors to verify public accounts. The word "auditing" is derived from the Latin word "audire," meaning "to listen." Auditing evolved with the emergence of the double-entry bookkeeping system in the 15th century, facilitating the spread of accounting and auditing. The first professional auditing organization was established in Venice, Italy, in 1581. Financial and tax policies also contributed to the development of the accounting and auditing profession through the introduction of tax oversight.
Audit of accounts involves examining internal control systems, data, documents, accounts, and books of a project to provide an impartial professional opinion on the financial statements' representation of the project's financial position and results.
Verifying the accuracy of recorded financial transactions and analyzing them.
Assessing the validity of final financial statements and ensuring their accuracy.
Presenting the results of the examination and verification in a report to relevant parties inside and outside the project.
The auditing environment in Jordan is governed by a set of regulations and instructions designed to enhance financial transparency and increase investor confidence. Compliance with these standards ensures your business remains lawful and trustworthy.
The auditor examines all entries, documents, and records to form an impartial opinion on the overall accuracy of the financial statements. This includes detailed auditing of all operations (Detailed Audit), but it has evolved into test-check auditing (Test-Check Audit) due to the scale of modern businesses. The auditor determines the audit scope based on the project’s internal control systems.
The auditor’s work is limited to certain operations or items, such as cash auditing or inventory counts, requiring a written contract specifying the audit scope to avoid unjustified liability.
Conducted after the end of the required financial period, but it may not detect errors or fraud immediately and takes a long time. Suitable for small and medium enterprises.
The auditor makes frequent visits throughout the year, which helps quickly detect errors and prevent tampering with records. Suitable for large enterprises.
Conducted by internal auditors to protect the company’s funds and ensure administrative efficiency.
Conducted by an independent external auditor to provide a report on the company’s financial status, characterized by independence.
Required by law, such as the audit of the accounts of joint-stock companies in Jordan of all kinds.
Requested by the business owners without legal obligation, and can be complete or partial as desired, such as in institutions and partnerships.
Random auditing of accounts without focusing on a specific item.
Auditing is aimed at discovering a specific issue, such as auditing inventory to verify value and quantities or auditing cash to ensure liquidity and value.
There is a common confusion among new investors about the difference between accounting and auditing. Here are some distinctions:
| Field | Auditing | Accounting |
|---|---|---|
| Definition | Review and evaluation of financial records provided and recorded by the company’s financial department by an expert to verify the accuracy of entries and procedures. | The science deals with recording, classifying, summarizing, and interpreting project activities that can be expressed in monetary units. |
| Process | A verifying examination of financial statements that begins and ends with the preparation of a neutral report and opinion. | An analytical science that starts with recording business transactions and ends with the preparation of financial statements, including the balance sheet and comprehensive income statement. |
| Scope | Begins at the point where supporting documents for business transactions and financial statements prepared by the accounting department end, and concludes with a neutral report by the auditor. | Work begins from the first business transaction until the last transaction in the financial period, ending with the preparation of financial statements. |
| Relation to Management | Not related to the management of the enterprise (non-employee and not influenced by company decisions). | Related to the management of the enterprise (employee and bound by internal regulations and laws). |
| Standards | Generally Accepted Auditing Standards (GAAS) and International Auditing Standards (IAS). | Generally Accepted Auditing Standards (GAAS) and International Auditing Standards (IAS). |
Clear Solutions Group is one of the best tax auditing companies in Jordan, offering services including:
We also offer a range of services to support your business after the initial audit, including: