Auditing and Assurance Services

Auditing and assurance services play an important role in verifying the company’s accuracy of its financial records and ensuring it follows relevant regulations and laws. This service includes a systematic examination of the company's financial statements and internal controls.  

Auditing is mainly conducted to provide an objective assessment of the financial health and operational efficiency of the company. It helps identify any fraud or non-compliance with regulatory requirements and accounting standards. 

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Types of Audits A Business Requires 

We offer several types of audits to meet the needs of different businesses:

Internal Audit

An internal audit is a procedure that involves an independent review of financial data in order to identify and address fraudulent activities. It could be conducted by company employees or external parties.

External Audit

An external audit is an annual process carried out to ensure the accuracy and transparency of the business’s financial health. It is mainly conducted by an independent third party to provide an unbiased assessment of the company’s financial reports. 

Statutory Audit

A statutory audit is required by government authorities to prove the company’s compliance with legal and regulatory requirements and the accuracy of the financial records.

VAT Audit

VAT audit services in Dubai are conducted to examine the company’s ledgers and trial balances. It is mainly carried out to ensure the accuracy of the calculation and reporting of VAT and its compliance with relevant tax laws and regulations.

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Benefits of Auditing and Assurance Services in Dubai

Using auditing and assurance services in Dubai offers many benefits for businesses:

Regulatory Compliance

Auditing ensures that a company complies with UAE-relevant regulations or laws and doesn’t break any existing rules.

Validity to Financial Records

Auditing and assurance procedures include reviewing and validating a company’s financial records, which guarantee the enhancement of budgeting, taxation, and overall financial management.

Identifying Risks

Evaluating and reviewing the company’s financial reports makes it easier for the company to identify risks and potential challenges and secure its financial health.

Evaluate Fraud and Accuracy

Auditors can identify weaknesses in the company’s system, which helps detect and prevent fraud. In addition, auditing ensures the accuracy of financial statement audit in Dubai which enhances financial planning and decision-making.

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What We Provide

• Examine and Check the Arithmetical Accuracy of the Accounts: 

This examination includes reviewing the financial records to ensure they are correctly calculated. 

• Verify and Validate Transactions: 

All recorded transactions are checked and reviewed against source documents like invoices, receipts, and bank statements.

• Confirm the Existence and Value of Assets and Liabilities: 

Tangible assets such as inventory, property, and equipment are physically inspected by our auditors to confirm ownership and verify the valuation of assets and liabilities.

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• Check the Distinction Between Capital and Revenue Transactions: 

Our auditors review transactions to ensure they are recorded in the income statement and correctly classified as either capital or revenue. 

• Prove that the Financial Statement is Presented in a True and Fair Manner: 

This includes evaluating the presentation of financial statements to ensure compliance with regulatory requirements and accounting standards.

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Contact us now to partner with one of the best auditing firms in Dubai for reliable auditing and assurance services that will help your company maintain compliance, accuracy, and credibility.

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