Horizon Biz Consultancy provides comprehensive Audit and Assurance services to companies in the UAE under the new corporate tax regime that begins on or after June 2023. Our team of experienced auditors is dedicated to providing high-quality audit and assurance services that help businesses improve their financial reporting and internal control processes. We offer a range of audit and assurance services including financial statement audits, internal audits, and compliance audits to help businesses meet regulatory requirements and mitigate risk.
Since our experienced team has a deep understanding of the new corporate tax regime, transfer pricing and in-depth understanding on VAT and excise, we can easily assist you with internal and external audit, risk assessment, and other assurance services. We follow a systematic approach to ensure that our clients’ financial statements and records are accurate and comply with the relevant regulations and accounting standards. Additionally, we provide valuable insights to our clients, helping them identify areas for improvement in their financial processes and controls.
The shifting economic landscape in the UAE after the new Corporate Tax Regime on or after June 1, 2023, there is a need for audit and assurance services in the UAE to ensure that companies comply with new corporate tax laws and regulations in addition to an independent objective assessment of a company’s financial health and performance.
These services can also help companies identify potential risks and improve their overall governance and control processes. In addition, audits are often required by regulatory bodies or as a condition of obtaining financing or insurance.
To comply with these objectives, our services include
Financial statement audits considering new corporate tax regime UAE 2023 involve the independent examination of financial statements to provide assurance that they are free from material misstatement and present a true and fair view of the company’s financial position.
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Internal audits involve the assessment of a company’s internal controls, risk management, and governance processes considering the new corporate tax regime UAE 2023. Compliance audits ensure that a company is complying with relevant laws, regulations, and internal policies.
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VAT Audit Services involve a thorough examination of a business’s financial records to ensure compliance with the UAE’s Value Added Tax regulations. These services help businesses identify and correct any errors or discrepancies in their VAT reporting, reducing the risk of penalties and fines.
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Review engagements involve limited assurance engagements to provide a lower level of assurance than financial statement audits. Special purpose audits are tailored to the specific needs of a company and can include areas such as fraud investigations or due diligence.
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We help your company examine the organization’s operational processes and procedures to evaluate their effectiveness, efficiency, and compliance with policies and regulations. The purpose of an operational audit is to identify opportunities for improvement. Once we explore such opportunities, we recommend changes that will help the organization achieve its goals more effectively.
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At Horizon Biz Consultancy, we offer diligence audits as a part of the due diligence process when a
company is considering a merger, acquisition, or investment. We thoroughly assess the financial and legal risks associated with the transaction and to ensure that all material information has been disclosed.
The diligence audit includes a review of financial statements, contracts, legal documents, and other relevant information to identify any potential issues that may impact the value of the transaction.
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IFRS is a globally accepted framework for financial reporting, and companies in the UAE are required to follow IFRS guidelines while preparing their financial statements. We offer IFRS (International Financial Reporting Standards) advisory services for companies to comply with IFRS guidelines and best practices.
These services may include IFRS training, gap analysis, impact assessment, and assistance in the preparation and presentation of financial statements according to IFRS guidelines
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Horizon Biz Consultancy is well-versed with the new UAE corporate tax regime 2023 and is well- equipped to offer a relevant range of Audit and Assurance services not only for compliance and mandates but also improve financial reporting, and enhance the transparency of your business operations.
Our experienced professionals use advanced methodologies and state-of-the-art tools to provide reliable and accurate assessments that add value to your business. With us, you can gain insights into the financial health of your company and make informed decisions that drive growth and profitability.
Our Audit and Assurance services provide several benefits to companies, including:
Our VAT experts with decades of experience working closely for global clients with their corporate tax implementation and compliance issues are capable of managing end-to-end corporate tax implementation, compliance and audits.
By conducting an independent assessment of the company’s financial statements, audit and assurance services can identify errors and irregularities, ensuring that the financial statements are accurate and reliable.
Having an independent auditor provides credibility to the financial statements, reassuring stakeholders that the company’s financial position is accurate.
Companies are required to comply with various legal and regulatory requirements, and audit and assurance services ensure that the company is meeting these requirements.
Audit and assurance services can identify potential risks and recommend strategies to mitigate them, improving the company’s risk management practices.
Audit and assurance services provide insights into the company’s operations, allowing management to identify areas of improvement and make better-informed decisions.
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