Companies Law No. 1 of 2016, as amended, requires all types of business entities in the State of Kuwait to keep accounting records, implement International Financial Reporting Standards (IFRS) in preparing and presenting their financial information, and have their financial statements audited by an independent licensed auditor to provide an opinion thereon.
The auditor’s work is governed by International Standards on Auditing (ISA) and the relevant local legislations.
The auditor’s opinion is beneficial to the shareholders, regulators, lenders, creditors, and investors, to identify and conclude the financial position of the business entity.
The ISA allows the auditor to provide many other services rather than the audit of financial statements including assurance engagements related to financial and non-financial information according to ISA standards.
The services offered by Baker Tilly in this domain are illustrated below: