Audit & Assurance
Independent assurance that stands up to regulators, lenders and boards.
Who it is for
For companies that must file audited financial statements in Oman, boards that need an independent view of their controls, and organisations facing a specific question that only a focused audit can answer.
- 01
Statutory Audit
The annual audit of your financial statements required under Omani law. We plan around your reporting calendar, test the balances and disclosures that carry real risk, and issue an opinion you can put in front of lenders, shareholders and the Ministry without qualification anxiety.
- 02
Internal Audit
A continuing, independent examination of your controls, processes and compliance, carried out in line with the IIA International Standards that internal auditors in Oman generally follow. Useful whether you are meeting a Central Bank requirement, satisfying an audit committee, or simply want to know where the gaps are before someone else finds them.
- 03
Forensic Audit
Investigative work where fraud, misappropriation or a serious accounting irregularity is suspected. We reconstruct what happened, quantify it, and document findings to a standard that supports disciplinary, insurance or legal action.
- 04
Expenditure Audit
Focused verification that spend was authorised, incurred for its stated purpose, and properly recorded. Commonly needed for grant-funded programmes, project accounts and cost-reimbursable contracts.
- 05
Special Audits
Scope-defined engagements answering a specific question, a shareholder dispute, a pre-acquisition concern, a regulator's request, or a one-off assurance requirement that falls outside the annual audit cycle.
- 06
IT Audit
Review of the systems your financial reporting depends on: access controls, change management, data integrity and the automated controls inside your ERP. Increasingly the point where financial and operational risk actually sits.
Assurance is the reason audit firms exist. A set of financial statements only carries weight because an independent, licensed professional has examined it and is prepared to put their name to an opinion on it.
Hayat Auditors SPC is licensed by the Ministry of Commerce, Industry and Investment Promotion and listed on the official Omani register of accounting and auditing offices. That licence, and the professional obligations that come with it, is what stands behind every report we issue.
Answers
Audit & Assurance questions, answered
Does my company legally need a statutory audit in Oman?
It depends on your company's grade under Oman's reformed Commercial Companies Law. Grade 1 entities, large enterprises and listed companies, require a mandatory independent external auditor along with a full board committee structure and enhanced related-party disclosure. Grade 4 entities, typically micro and small businesses under ten employees, file simplified annual returns and are not required to maintain an audit committee. If you are unsure which grade applies to you, we will confirm it before quoting.
What is the difference between a statutory audit and an internal audit?
A statutory audit is an external, legally required examination that results in a formal opinion on your financial statements for third parties. An internal audit is a continuing internal function that examines controls, processes and compliance for management and the audit committee. They serve different audiences and are not substitutes for one another.
Can Hayat audit a company listed on the Muscat Stock Exchange?
Audit firms wishing to audit companies regulated by Oman's Financial Services Authority must hold separate accreditation under Administrative Decision No. 8/2018, which sets minimum requirements for firm experience, registered qualified staff and partner-level post-qualification experience. Please contact us directly to discuss your specific listed-entity requirement.
When should we start planning the annual audit?
Earlier than most companies do. Engaging before your year-end lets us agree scope, identify the areas likely to need judgement, and resolve accounting questions while there is still time to address them, rather than discovering them during fieldwork when options have narrowed.