Internal Audit

Internal Audit Services in Dubai

As a business owner anywhere in the world, you would be aware that you have to adhere to certain regulations and responsibilities towards the government, and it is no different in Dubai. Owing to its flourishing economy as well as suitable political provisions, thousands and thousands of people withing the emirate within the UAE as well as from elsewhere in the world flock to Dubai to set up their business in the hopes of earning high profits and returns and they do.

What is an Internal Audit? And Why it is Important?

One of the responsibilities you have to bear as a business owner is getting audited on a regular basis. An external audit is essentially an inspection done by an external body (not linked to your company by any means) to get a proper idea of your company’s financial situation. Since audits are done by independent bodies, they would see and note things as they are, which is why it is important to get an internal audit done so that you have an opportunity to improve your internal governance and can rectify any errors in the accounting process, so that the reports that are presented to tax regulators, investors, etc. speak positively about your company.

Internal audits are useful in getting a proper idea of your company’s internal governance, how the different departments are working, whether your accounts and financial statements are up to date, whether they are accurate, whether you have been meeting targets, whether you have been adhering to government guidelines as well as deadlines etc. Before an external audit is done, an internal audit services  in Dubai will provide you with the opportunity to not only identify issues within your company, whether with regards to its functioning or simply in terms of its finances and accounts but would also give you the opportunity to try and rectify those errors. Some of the important work done by an internal auditor in Dubai include:

Why Choose Aviaan Accounting for Internal Audit Services in Dubai? 

Adhering to a stringent internal audit process is very important to ensure the proper functioning of the business. Aviaan Accounting offers comprehensive internal audit services in Dubai for different kinds of companies, aimed at improving the operations of the business and providing quality consultancy services with regards to the same. Our disciplined, as well as a systematic approach to this service, assures you of improved risk management, control, and of course, governance. Aviaan Accounting is well known for providing not just quality internal audit services but is also known for its accountability and integrity. Moreover, said services act as an independent advising body to your company’s management and also work together with it to review all systems as well as operations thoroughly to ensure that not only are you engaging in the right practices but are also complying with the government’s regulations. Another benefit of hiring Aviaan Accounting’s internal audit service means that you would also be able to identify any kind of fraudulent activity going on in the company.

Benefits of hiring our UAE internal audit services include the following: –

Types of Internal Audit Services Offered by Aviaan Accounting

Besides providing key audit-related services such as Internal Audit, Risk Assessment/ Management, Audit plans, Co-sourcing of audits, etc., Aviaan Accounting is also dedicated to providing you internal audit services which serve your different needs and thus, the different kinds of internal audit services we offer are:

If you have any queries with regards to any internal audit services that we offer and how they can help you, you can always contact us by either calling us or letting us know of your doubts through email.

FAQs

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.

What is internal audit work based?

Internal audit work is risk–based and encompasses both financial and non–financial operations of an organization.

Is internal audit mandatory for all companies in Dubai?

No, internal audit is not mandatory and it depends upon the size and internal controls of the company.

What are the benefits of internal audit?

Internal auditors help your organization succeed by providing a combination of assurance and consulting services. The assurance part mainly involves informing wellness of the systems and processes designed to keep the organization on track are working.

How long does an internal audit take?

An internal audit normally takes 1 to 2 weeks to be carried out and has to be carried out continuously over period for a financial year under consideration.

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