Helping you move forward with confidence
The audit opinion is intended to provide an objective independent examination of the financial statements and give a true and fair view in accordance with the financial reporting framework, so increases the value and credibility of the financial statements produced by the management.
RSM Morocco work to deliver high-quality auditing services, and benefit from the expertise of an international network always investing in innovative auditing methods and closely follow the latest developments ensuring our methods are compliant with the International Standards on Auditing. Staying alert to risk is always a priority. We use a risk-based approach to understand the business, in order that appropriate focus and resources be devoted to auditing those risks.
- Statutory audit
- Acquisition audit
- Contractual audit
- Internal audit
- Specific audit engagement for mergers and acquisitions
- Specific audit engagements for capital contribution
- Due diligence
Auditing in Morocco
The status of the auditor has been redefined by the company’s law of 1999.
The auditor’s report must state whether the financial statements have been properly prepared in accordance with the provisions of the Companies’ Ordinance and whether they give a true and fair view.
Audit is required for all public limited companies, listed companies, banks and insurances and for all other companies with an annual turnover over than MAD 50 million.
In Morocco, companies audit must be performed by a statutory auditor appointed during the Annual General Meeting. The statutory auditor must belong necessarily to the Chartered Accountants Association.
For some kind of companies (listed, public, banking, credit institute, insurance…) audit must be lead by two statutory auditors.
The appointed auditors are required to comply with the Ethics Standards established by the Chartered Accountants Institute.
These are designed to preserve the position of independence of the auditors by identifying potential threats to their independence and a series of safeguards that may be applied to address those safeguards.
It requires the auditor to carry out his work freely and in an objective manner.
The purpose of an audit is to enhance the credibility of financial statements by providing written reasonable assurance from an independent source that they present a true and fair view in accordance with an accounting standard. This objective will not be met if users of the audit report believe that the auditor may have been influenced by other parties, more specifically companies managers and/or directors or by a situation of a conflict of interest. In addition to technical skills, the auditor independence is the most important factor in establishing the credibility of the audit opinion.