Johud Consulting (GGI Jordan)

Audit , Tax  , Financial Advisory

Our audit objectives are to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to fraud or error, and the issuance of our report which includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit has been performed in accordance with International Standards of Auditing will always detect any material misstatement, if any. Errors can arise from fraud or error, and are considered material if, in individual or aggregate, may reasonably influence the economic decisions taken by the users on the basis of these f inancial statements. We will conduct the audit in accordance with international auditing standards. These standards require us to comply with the requirements of ethical behavior. As part of the audit process according to the Audit international standards, we exercise professional judgment and maintain the implementation of the principle of professional skepticism during the audit, in addition to:- Identify and assess the risks of material misstatement of the f inancial statements, whether they arise of fraud or error, and design and implement audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting the material misstatement resulting from fraud is higher than the risk resulting from error, as fraud may include collusion, forgery, intentional omission, misrepresentation or overreach of internal control.- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate to the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control In the company. Regardless, we will advise you in writing of any significant deficiencies in the internal control relevant to the audit of the f inancial statements that are identified during the audit.- Evaluating the appropriateness of the applied accounting policies and the reasonableness of accounting estimates, and related notes prepared by management.- Conclusion about the appropriateness of management’s use of the basis of accounting continuity, based on the audit evidence obtained, whether a material uncertainty exists relating to events or conditions that may arise significant doubt about the Company’s ability to continuing as a firm . If we conclude that there is no material certainty, we are required to draw attention in our audit report to the related notes in the financial statements, and if disclosure of this information is inappropriate, we will modify our opinion. Our conclusions is based on the audit evidence obtained up to the date of our audit report. However, future events or conditions may cause the Company to cease to operate as a continuing firm.- Evaluate the overall presentation, form and content of the f inancial statements, including the disclosures, and whether the f inancial statements represent the transactions and events in a manner that achieves fair presentation. As a result of the inherent limitations of an audit, as well as the inherent limitations of internal control, there are unavoidable risks represented in the presence of some significant risks that may not be detected, even though the audit process is properly planned and performed in accordance with the international auditing standards. The audit will be conducted on the basis that management acknowledges and understands that it has the responsibility to: A- Preparing and fair presentation of financial statements in accordance with International Financial Reporting Standards. B- nternal control as management deems necessary to enable the preparation of financial statements free of materia misstatement, whether due to fraud or error. C- Provide us with the following:- Access to all information that management understands is relevant to the preparation of financial statements, such as records, documents and other matters.- Additional information that we may request from management for the purpose of the audit.- Unrestricted access to persons employed in the company and from whom we consider it necessary to obtain audit evidence. As part of our audit, we will ask the management to provide us with a written confirmation of representations made to us in connection with the audit.