Fama Accounting Services, Office 2294, Building 574 Road 31 Block 611 Al Hamriya, Bahrain
Fama Accounting Services, Office 2294, Building 574 Road 31 Block 611 Al Hamriya, Bahrain
When it comes to building trust with investors, regulators, and financial institutions, a professionally conducted external audit is your strongest asset. Our External Audit Services in Bahrain are tailored to meet the highest international standards while ensuring full alignment with local laws, including those of the Ministry of Industry and Commerce (MOIC), Central Bank of Bahrain (CBB), and National Bureau for Revenue (NBR). Whether your business is due for a statutory audit, preparing for funding, or seeking financial transparency, we provide a thorough and impartial evaluation of your financial statements.
We don’t just “tick the box.” Our auditors go beyond routine number crunching — we analyze the accuracy of your records, compliance with applicable laws, adherence to Bahrain’s VAT and financial reporting frameworks, and the overall health of your financial systems. Each engagement is conducted with independence, precision, and complete confidentiality to give stakeholders confidence in your operations.
Trusted by businesses across Bahrain — from startups to large corporations — our external audits are designed to fulfill legal obligations, satisfy banking or investor requirements, and foster internal discipline. With our Bahrain-based certified external auditors, you get objective insight, peace of mind, and a report that reflects your commitment to transparency and compliance.
An external audit is an independent examination of your company’s financial records by a licensed third-party auditor. The goal is to verify whether your financial statements present a true and fair view in accordance with applicable standards like IFRS (International Financial Reporting Standards).
External audits are typically:
Legally required for certain entities (e.g., CR renewal, CBB-regulated entities)
Necessary for investor, shareholder, or lender confidence
A way to detect discrepancies, fraud, or poor financial practices
✅ Regulatory requirement for annual filings and commercial license renewals
✅ Bank loan and funding prerequisites
✅ Mandatory for VAT-registered businesses over certain turnover
✅ Helps avoid non-compliance penalties from MOIC or NBR
✅ Builds stakeholder trust and corporate credibility
| Entity Type | Audit Requirement |
|---|---|
| WLL Companies | Mandatory for CR renewal |
| S.P.C. (Single Person Companies) | Required depending on capital size |
| CBB-Regulated Companies | Mandatory, as per CBB law |
| Public Shareholding Companies | Annual statutory audits |
| Foreign-Owned Companies | Required for government compliance |
| VAT-Registered Companies | For VAT audit readiness |
| Companies Seeking Loans/Investors | Often required by banks/investors |
We offer comprehensive external auditing tailored for Bahraini businesses:
✅ Statutory Financial Audits (for MOIC/CR renewal)
✅ Annual Audit Reports for Shareholders/Investors
✅ Bank-Required Audit Reports
✅ VAT Reconciliation Audits
✅ Audit for CBB-Regulated Entities
✅ Audit for NGOs, Foundations & Schools
✅ Special-Purpose Audits (e.g., due diligence, liquidation, M&A)
Pre-Audit Planning
We understand your business, systems, and industry to create a customized audit plan.
Document Review
We request financial statements, ledgers, tax records, CR documents, and relevant compliance materials.
Fieldwork & Testing
Our team performs tests on accounting entries, cash flow, inventory, fixed assets, and revenue recognition.
Reconciliation & VAT Cross-Check
We reconcile VAT filings with financial statements and validate supporting documentation.
Draft Report & Review
A draft is shared with management for clarification and response.
Final Audit Report Delivery
We issue a complete audit report with findings, certification, and notes — signed and sealed.
CR Renewal or Filing Support
We assist with audit submissions for MOIC, CBB, or any required portals.
Independence & Objectivity: No conflict of interest. Fully impartial.
Bahrain-Specific Knowledge: We understand local VAT, MOIC, and banking requirements.
Certified Experts: Our team includes CPAs, ACCAs, and Bahrain-licensed auditors.
Fast Turnaround: Efficient audits without compromising accuracy.
Bank & Investor Ready: Audit reports designed to meet professional expectations.
Affordable Packages: Flexible pricing for startups, SMEs, and larger firms.
Since the introduction of Value Added Tax (VAT) in Bahrain and its increase to 10%, the role of external audits has grown beyond just financial statement reviews. Today, external auditors are expected to assess how well your business complies with Bahrain’s VAT law, issued and enforced by the National Bureau for Revenue (NBR).
Even businesses that handle their VAT returns regularly may unknowingly make errors or omissions that can lead to penalties, rejections, or future audit flags by the NBR. That’s why external audit services in Bahrain now routinely include a VAT compliance component — not just to meet regulatory expectations, but to protect your business from financial and reputational risk.
Here’s what your external audit will typically assess when it comes to VAT:
One of the first things an auditor does is match the output VAT reported to the NBR against your actual sales revenue recorded in your accounting system.
Are you charging VAT on all taxable sales?
Are the VAT rates correctly applied (standard-rated, zero-rated, or exempt)?
Is your total output VAT aligned with the revenue line in your income statement?
Even minor discrepancies can trigger audit concerns, especially if sales are underreported or VAT is applied incorrectly on invoices.
Input VAT — the VAT your business pays on purchases — is often claimed back from the government. But only valid, documented expenses are eligible for deduction.
An external audit will:
Review purchase invoices to confirm supplier VAT registration
Check whether the nature of the expense qualifies for input VAT recovery
Verify whether import VAT paid has been correctly accounted for and supported by customs documentation
This process ensures you’re not over-claiming and risking a future NBR clawback.
Many companies file quarterly VAT returns, but those returns must reconcile with your annual financial records.
During the audit, we’ll:
Match total VAT declared in your returns with VAT seen in your ledgers
Confirm that adjustments, credit notes, and debit notes are properly reflected
Check whether VAT refunds received or pending are accounted for correctly
Reconciliation gaps could indicate missed transactions or even compliance breaches — which might not be discovered without an audit.
The NBR requires VAT invoices to include specific details such as:
VAT Registration Number (TRN)
Proper tax breakdowns
Accurate customer details and descriptions
Sequential invoice numbering
An external audit will review whether your invoices comply with Bahrain’s VAT invoice standards. It will also evaluate the completeness of your supporting documentation:
Are customs import declarations available for imported goods?
Are supplier invoices retained and legible?
Is there proof of zero-rated exports or exempt transactions?
Missing or incorrect documentation can invalidate your VAT position and put you at risk during a future NBR audit.
Many VAT issues stem from common but costly mistakes, such as:
Charging VAT on exempt items (e.g. certain financial or educational services)
Applying 0% VAT incorrectly
Forgetting to account for reverse charge VAT on cross-border services
Filing returns with outdated data or manual errors
An external auditor brings fresh eyes and uses analytical tools to flag these risks before they escalate into fines or audit notices from tax authorities.
One of the greatest benefits of VAT-focused external audits is preparing your business for an actual NBR audit or inspection. Our reports help answer:
If the NBR arrives for an audit, is your documentation in order?
Do your returns match your ledgers and supporting files?
Are your records accessible for the past five years, as required?
We conduct a mock NBR audit checklist to simulate the questions and requirements typically raised by tax inspectors — giving you the confidence to face regulatory scrutiny.
Beyond checking compliance, we help optimize your VAT processes:
Can you automate certain VAT entries through accounting software?
Are there areas where you’re eligible for VAT refunds but not claiming them?
Is your internal team properly trained to handle VAT classifications?
Our external audit not only identifies problems but offers practical solutions to make your VAT operations more efficient and error-free.
| VAT Area | Audit Focus | Benefit |
|---|---|---|
| Output VAT vs. Revenue | Reconciliation and rate accuracy | Avoid underreporting penalties |
| Input VAT Claims | Verification of documentation and eligibility | Prevent over-claims & rejections |
| VAT Return Reconciliation | Match returns to financials | Ensure consistency & compliance |
| Invoicing Compliance | NBR invoice formatting, completeness | Avoid invalid invoices or fines |
| VAT Documentation & Archiving | Customs docs, tax invoices, contracts | Prepare for future NBR audits |
| VAT Mistake Detection | Zero/exempt errors, reverse charge issues | Reduce hidden risks |
| Audit Readiness Evaluation | Record checks, process walkthroughs | Be prepared for surprise inspections |
| Refund & Credit Optimization | Missed claims, partial exemptions | Maximize recovery of input VAT |
We work across all major sectors in Bahrain:
🏢 Real Estate & Construction
🛒 Retail & Wholesale
🏦 Financial Services & Fintech
🏥 Healthcare & Clinics
📚 Education & Training Institutions
🏭 Manufacturing & Logistics
📦 E-commerce & Startups
🤝 NGOs & Non-Profits
We use advanced software for:
Transaction sampling
Ledger analysis
VAT matching
Risk mapping
Financial ratios & variance checks
This allows for faster audits, deeper insights, and fewer errors.
Did you know? An external audit is required annually to renew your commercial registration (CR) with MOIC.
We provide full support including:
MOIC-compliant audit report
Signed/sealed copies for submission
Follow-up assistance with the portal
Coordination with your PRO or legal rep
To begin your audit, you’ll typically need:
Company CR, MOA, and Articles
Financial statements (Trial Balance, General Ledger)
Bank statements & reconciliations
VAT returns & invoices
Purchase and sales registers
Payroll records
Fixed asset register
Loan agreements, lease contracts (if applicable)
We’ll provide a full checklist upon engagement.
| Company Size | Estimated Audit Duration |
|---|---|
| Small Company | 1–2 weeks |
| Mid-Sized Firm | 2–4 weeks |
| Large Corporation | 4–6 weeks |
Need it faster? Ask us about expedited audit service.
Q1: Is external audit mandatory for all companies in Bahrain?
It is mandatory for most legal structures, especially WLLs, foreign-owned entities, and those renewing CR or applying for loans.
Q2: Do you provide audit reports for MOIC submission?
Yes, we issue official audit reports approved for CR renewals and MOIC requirements.
Q3: What’s the difference between internal and external audit?
Internal audit is focused on improving internal controls and risk, while external audit validates your financial statements for external stakeholders.
Q4: How soon can you start our audit?
In most cases, we can begin within 3–5 working days from onboarding.
Q5: Can you audit our VAT returns too?
Yes. VAT compliance and reconciliation are included in most external audits.
Q6: Do you help with errors found during the audit?
Yes. We guide your team to correct misstatements or improve controls.
Q7: Will the audit delay our operations?
No. We work efficiently and independently, ensuring minimal disruption.
Q8: What qualifications do your auditors have?
Our team includes ACCA, CPA, CIA, and Bahrain-licensed audit professionals.
Q9: How much does an external audit cost?
It varies based on company size and complexity. Contact us for a tailored quote.
Q10: Can you support group audits or multi-branch entities?
Yes. We’re experienced in consolidated audits and multi-location companies.
Minimize risks and maximize growth with our comprehensive accounting solutions in Bahrain.
Below is an overview of our general pricing packages for our suite of services in Bahrain. Costs vary depending on factors such as the services we offer.
Read some reviews and success stories from our loyal customers who achieved their goals and how our expert solutions have made a lasting impact on their growth, compliance, and financial clarity. Your success is our greatest achievement!
Client
I am so happy to have chosen this company! Right from the start it was a very easy decision, I knew I am in the right hands. They contacted me with every update they had and always kept me up to date with all the information and steps that we will proceed next.
Client
Highly recommend for anyone looking to establish a company in Bahrain! Waqas Akram and his team made the entire process smooth and stress-free. They were incredibly knowledgeable, responsive, and handled every detail with professionalism.
Client
The team was highly professional, efficient, and knowledgeable. They ensured that all paperwork and procedures were handled smoothly, saving us both time and effort. I highly recommend their services to anyone looking out there.
Client
Abdullah and the team have been great in assisting me with related tasks. In challenging timeframes they've supported me to ensure our company operations can start in Bahrain without any issues. Thank you. I will recommed their services.
Client
I was extremely impressed with their services. Their expertise made everything smooth and hassle-free. I highly recommend Setup in Bahrain for anyone looking for their business here. Their professionalism and commitment to customer satisfaction are top-notch.
With years of experience and a highly qualified team, we bring unmatched expertise and in-depth knowledge of Bahrain’s financial landscape to every service we provide.
Choosing the right audit partner is not just a compliance decision — it’s a strategic one. Our firm is trusted by businesses across Bahrain because we deliver more than just reports; we deliver value. We combine deep local knowledge, international audit practices, and a commitment to personalized service. With each engagement, we focus on clarity, accuracy, and strategic insight, helping you turn regulatory obligations into business advantages.
We’re based in Bahrain, with a team that understands the intricacies of the local regulatory landscape, including NBR, MOIC, and CBB requirements. At the same time, we follow international standards such as IFRS and ISA, making our reports credible not only in Bahrain but across international markets. Whether you’re a startup, family business, or a multinational branch, we speak your language — both culturally and financially.
One of the main reasons businesses engage in external audits in Bahrain is for Commercial Registration (CR) renewal and loan or investment applications. Our reports are formatted and signed according to MOIC standards and accepted by banks and government entities. We ensure your financials are presentable, defendable, and submission-ready — saving you time, money, and back-and-forth headaches.
Your audit is conducted by highly qualified, licensed professionals with certifications such as CPA, ACCA, CIA, CMA, and relevant MOIC registration. This isn’t just about ticking boxes — it ensures your audit is legally valid, technically sound, and professionally defensible. Every report is reviewed through a quality assurance process before delivery.
We understand that time is often of the essence, especially when audits are required for CR renewal or funding rounds. Our audit teams are efficiently structured, with clear timelines, digital collaboration tools, and a client dashboard for real-time progress updates. Fast delivery does not mean shortcuts — we maintain audit integrity at every stage while honoring your deadlines.
Our audit services span across dozens of industries in Bahrain — from logistics and healthcare to fintech, hospitality, education, and real estate. We bring industry-specific knowledge to every engagement, understanding the nuances of each sector’s operational and regulatory challenges. This ensures our audit approach is relevant, tailored, and impactful for your business.
We don’t just audit and walk away. Post-audit, we provide hands-on support for any rectifications needed, help you submit to relevant authorities, and guide you on how to improve controls, accounting systems, and VAT compliance. Our end-to-end audit service ensures that you’re not left in the dark once the report is delivered.
Auditing involves handling sensitive financial and operational data. We are committed to total confidentiality, and our systems are secured through encrypted document storage, limited-access file sharing, and strict non-disclosure protocols. You can be confident that your information is safe with us.
We believe in clear, upfront pricing without hidden charges. Whether you’re a startup needing your first audit or a complex group with multiple subsidiaries, we offer fair rates and customized packages that align with your needs and budget. Value-driven service is part of our audit philosophy.
Many of our audit clients stay with us for years — not just for audits, but for ongoing accounting, VAT, advisory, and compliance services. We build long-term relationships based on trust, responsiveness, and results. As your business grows, we scale with you — helping you stay compliant, confident, and ready for every financial milestone.
Our external audit process is designed to be seamless, structured, and stress-free for your business. From the first consultation to the final signed report, we follow a transparent and proven methodology that ensures accuracy, accountability, and complete compliance.
We begin with a discovery session, where we understand your business structure, financial year, operational complexity, and industry-specific audit requirements. Based on this, we build a customized audit plan outlining timelines, required documents, and reporting goals.
Our audit team then conducts fieldwork and testing — either remotely or on-site — by analyzing your financial records, general ledger, VAT returns, and compliance documentation. We use advanced tools to cross-verify transactions, evaluate internal controls, and flag inconsistencies.
Before finalization, we present a draft report to your management team for discussion and clarification. Once all revisions are incorporated, we issue your official signed audit report, ready for submission to banks, investors, the MOIC, or CBB.
Throughout the process, you’ll have access to a dedicated audit coordinator and real-time status updates. We ensure you feel informed, prepared, and supported — every step of the way.
Over the years, we’ve earned the trust of businesses in Bahrain by consistently delivering audits that are precise, punctual, and practical.
✅ Reputation for integrity: Our firm operates with full independence, which means our reports carry weight with banks, investors, and regulators.
✅ Client-first approach: We’re known for being approachable, responsive, and easy to work with. Our clients value our professional communication and fast turnaround.
✅ Bahrain regulatory expertise: From MOIC filing formats to NBR expectations, our auditors are fully versed in local frameworks.
✅ Proven track record: We’ve successfully completed audits for hundreds of companies — including startups, family-owned enterprises, and international branches.
✅ Comprehensive support: From audit readiness checks to post-report implementation, we stand by our clients beyond just report delivery.
Our focus is not just on issuing a report — it’s on protecting your business, strengthening your credibility, and ensuring you’re always a step ahead.
Compliance is not optional — it’s foundational. In Bahrain’s evolving regulatory environment, staying compliant with financial laws is essential for license renewals, bank relationships, investor confidence, and public trust.
We ensure that your business meets all key regulatory obligations, including:
Commercial Registration (CR) renewal audits mandated by the Ministry of Industry and Commerce
Bahrain VAT compliance audits and alignment with NBR documentation requirements
Central Bank of Bahrain (CBB) audit guidelines for financial institutions and licensed entities
Adherence to IFRS and IAS audit standards, accepted locally and internationally
Proper documentation for intercompany transactions, foreign investments, and capital structures
Audit trail support for anti-money laundering (AML) and due diligence
With us as your audit partner, you don’t just meet the minimum — you gain peace of mind that your business is operating within the full scope of Bahrain’s legal and financial framework.
Minimize risks and maximize growth with our comprehensive accounting solutions in Bahrain.
With a reputation for precision, and excellence, we are here to support your business growth while ensuring compliance with Bahrain’s financial and regulatory standards.
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Accounting, VAT, & Audit Services by famabh