Audit

External Audit Firms in Dubai

Dubai has, over the years, become a center  for businesses of all kinds and sizes. Since the emirate offers business owners or those aspiring to set up one, suitable political provisions along with the prospects of earning high profits due to the booming economy, many choose to establish their companies here. In other words, business owners not just from Dubai or the United Arab emirates, but from all over the world, come here to set up their businesses.
However, while it is important to ensure that all the operations of your company are being carried out the way they should and that you are able to achieve targets, it also necessary to ensure that you are adhering to government guidelines and laws. One of the ways to choose best Audit firms in Dubai UAE for external Auditing

What is External Audit? And why is it important?

The term ‘audit’ basically means evaluation. An external audit is an evaluation of the company,  to make sure of the fact that it complies with the various laws and regulations imposed by the government. The main purpose of the audit is to verify whether the company’s financial statements and records are accurate or not and whether they are providing the public with the right information with regards to the same and to evaluate its overall performance as an enterprise. It is the General Meeting of Shareholders that selects the auditors for 3 to 5 years.
The following two are the main  purposes of getting an external Audit services in Dubai:

  • The statutory audit report serves as a means to enhance the company/firm’s credibility as well as reliability.
  • It helps in being proactive before doing any kind of business for prospective clients in evaluating the business/company.

What Part do Firms Play in the External Audit Process?

While audit consultants would do the work required of them, firms or companies need to keep certain documents ready, and some of them are:

  • Fixed assets details
  • Trade payables and receivables
  • Inventory details
  • Administration and selling expenses
  • Bank statements with transaction details
  • Secured/unsecured loans and advances information etc.

Why Aviaan Accounting is a Great Choice for External Audit Services?

External audit are extremely important for any sort of business and that the service hired must be able to assure you of value, and that is what Aviaan Accounting the best Audit firms in Dubai specializes in. We understand that the auditing scenario has changed over the years and continues to change even today, with regards to regulations, competition as well as technology, and we offer to you highly experienced professionals who would be able to offer the right views and would thus aid in making the right decisions.
Moreover, Aviaana Accounting the best Audit Firms in Dubai,  we are dedicated to using state-of-the-art auditing tools while following only the proven auditing methodologies to ensure that we offer services that are suited for your particular needs. To make sure of the fact that our consultants are able to offer expertise, we work on their transaction, tax, and technology skills, and have made significant investments in digital technology as well as innovation to empower them. This has helped us to analyze both the risks as well as the potentials in our clients’ companies and has enabled us to identify problems and offer useful advice or expertise, which helps in the long run. Our services are designed in a way that they cater not just to investors, stakeholders, the audit committee, etc. but also to others.
Our team of consultants is chosen after careful consideration and evaluation of their qualifications and would surely be able to help you with your auditing needs with utmost efficiency. We work towards helping them develop their digital technology skills so that they can be kept abreast of all the changes in the field. In just a few words, Aviaan Accounting strives towards offering to clients, different kinds of auditing services while ensuring the professionalism and efficiency of the services.

External Audit Services Offered by Aviaan Accounting the best Audit Firms in Dubai

As mentioned above, depending on the kind of clients and their needs, Aviaan Accounting  the best audit firms in Dubai  works towards ensuring that we can provide them with external audit services that are catered to their particular needs. Keeping in mind the business diaspora in Dubai, the following are the kinds of external audit services we offer:

  1. Financial Audit: – It is aimed at identifying the issues that are concerned with the company’s financial operations and helping find solutions to the same, on a short-term and long-term basis. Financial audit reports include profit and loss, change of equity statement, cash flow statement, balance sheet, etc.
  2. Risk Management Audit– Given the fact that there are various risks that could negatively affect a business’s performance, risk management audit services help to identify such risks, and find solutions for the same. By doing so, the company can avoid any legal hassles or cost escalations.
  3. Company Liquidation Audit:– The Dubai government requires that companies show a company liquidation audit report, which clearly indicates no liabilities. Owing to market instability as well as other economic factors, businesses with modes of monetary resources might have to liquidate the entity and company liquidation audit processes can end up being quite long-drawn and complicated. Aviaan Accounting offers reliable company liquidation audit services.
  4. Internal Audit-In order to help companies improve their efficiency, assess internal risks, and achieve strategic goals, Aviaan Accounting the best Audit firms in Dubai offers internal audit services.

In case you have any kind of doubts with regards to external audit, or the kind of services we offer, do not hesitate to contact us immediately; you can either write to us via email or you can call us. We will get back to you soon as soon as possible.

FAQs

What is segregation of duties?

Segregation of duties is the concept of having more than one person required to complete a task.  Segregated duties help protect the University from fraud and error and shield employees from unwarranted suspicion.

Does every company need to get their audit done?

As per the Commercial Companies Law, Statutory audit in Dubai is mandatory for all companies. But the law is not the same for certain free zones. They have their own auditing requirement as per the applicable Free Zone Law.

What is the purpose behind conducting an Audit?

Audit is conducted to check the true and fair nature of an entity’s financial statements. It also examines whether statements are prepared as per the applicable framework, such as IFRS.

Is internal audit and External audit one and the same thing?

Certainly not,  Internal audit report is used by the management, whereas external audit reports are required by stakeholders and creditors. Also, internal audit examines risks with respect to internal controls laid by the company, whereas external audit examines complete financial position of a business.

Comments are closed.

Address

Binary Tower, Marasi Drive,
Business Bay,
Dubai, UAE
Phone KSA: +966 58 264 5319
UAE: +971 567952590
Mail:info@aviaanaccounting.com

Skip to toolbar