Auditing Services in Dubai & UAE
Audit & Assurance is the process of making an analysis of company accounts and verifying data in the financial statements with supporting documents. The audit process also identifies the risk involved in the business operation with regards to the industry and business market. The auditors and audit services in Dubai, UAE examine the financial process and strategy to enhance the performance and quality of the auditing process of companies in Dubai & UAE.
Types of Audit Services in Dubai UAE
Internal Auditing Services in Dubai UAE
Internal auditing services are recommended to identify any weakness in internal controls, operational efficiency or regulatory compliance. Internal auditing in UAE is performed by Certified Internal Auditors, they have in-depth knowledge of internal controls, process & system. It ensures that the company is on the right track by improving risk management & follow international & local guidelines.
External Auditing Services in Dubai UAE
The external audit is an independent assessment of a company’s financial statements. Audits offer reassurance to stakeholders that the company’s financial statements are free from material errors. External auditors are considered as unbiased professionals to analysis the company financial position & procedures. Getting the accounts audited from external auditors increases the credibility & reduces the risk of improper accounting entries.
Statutory Auditing Services in Dubai UAE
A statutory audit is legally required audit that needs to be done to evaluate the company financial position and financial records. Generally, a statutory audit is conducted for the public. Statutory audit company give review & monitor company accounts & accounting process to present a neutral and fair picture of the financial health of a specific company.
Due Diligence Auditing Services in Dubai UAE
A due diligence audit in a process of assessment of an organization to evaluate its financial health and performance. It helps to understand the company competencies, the target market, potential customers and profit-making capabilities. In general, companies want the due diligence audit firms to prepare an audit report at the time of merger & acquisitions of business. It helps is decision making, keeping all risks and opportunities on front. Due diligence audit can be a legal obligation, but it commonly applies to voluntary investigations.
Types of Due Diligence Audit:
- Financial Due Diligence
- Commercial Due Diligence
- Operational Due Diligence
- Legal Due Diligence
Fraud/Forensic Auditing Services in Dubai UAE
Forensic audit or fraud investigation is not a new concept, the demand for fraud prevention & examination services is getting high because of the modern world crime. A forensic audit is a process of tracking & investigating the matters related to fraud, financial crimes & commercial disputes. It also determines the root & causes of financial errors, alleged employee fraud, reduction in company revenue, increase in cost & other operational matters.
Tax Auditing Services in Dubai UAE or FTA Audit in Dubai UAE
As per the Tax Procedures Law (Federal Decree-Law no. 7), a tax audit is a process carried out by the Federal Tax Authority (FTA) to examine the commercial records or any information or data of the taxable persons conducting a business in the UAE. The FTA carries out the tax audit on a taxable person to ensure that the taxable person is complying with the provisions of the UAE VAT Law as well as the Tax Procedures Law. By conducting a tax audit the FTA ensures that the taxable person has paid all the liability and every tax due is collected and provided to the government within the given time-frame. Tax agents in the UAE who are registered with the Federal Tax Authority assist the companies with pre-audit and post-audit support to ensure VAT compliance. The companies should not approach the tax agents who are not registered with the FTA.
An annual financial audit is not compulsory in Dubai Mainland by UAE authorities but companies approach auditors in Dubai to make sure the accounts are properly maintained in compliance with international accounting standards. There are more than 45 free zone jurisdictions in UAE and almost all of them require their companies to get the company accounts audited by approved auditors in Dubai & UAE in order to renew their trade license annually.
Once the audit firm in Dubai, UAE is appointed to conduct audit review & analysis, the auditors in Dubai visit the company office on regular basis to get the financial statements prepared at the end of the year. Companies are often required by the banks to present the audit reports, it helps in building the trust with banks and getting the business loans to expand the business activities. Auditors in Dubai, UAE sign the financial reports at the end of the financial year and submit those to the management that reflects the financial health of the entity.
Mostly auditing companies in Dubai consist of a team of certified auditors in Dubai, UAE. We have a qualified and experienced auditors & accountants who not only prepare you the audit reports but also present your company’s financial health in a way that makes it easy for you to make upcoming decisions about your business operation and financing. Our Auditors in Dubai give you the best pieces of financial advice that help you in building confidence in the financial health of the company for lenders & investors.
For more information related to audit requirements, procedures and compliance, fill out the contact form and connect with one of the best & professional audit service provider in Dubai & UAE.
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Get your Free Meeting to know Auditing Services from Horizon Biz Consultancy
Horizon Biz Consultancy is experienced in auditing, trading license, business/company setup, business consultation, Tax consultation, accounting services, payroll, CFO services and many other services too. Our UAE based qualified consultants, auditors and accountants are experienced working with many small and leading businesses/companies and organization.
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Read More:
Before Starting the Audit Process Companies must be aware of
https://www.horizonbizco.com/internal-audit-what-is-it-and-what-are-its-benefits/
FTA VAT Audit Services in Dubai | VAT Audit in UAE | VAT audit in Dubai
