Audit Firms in Dubai
Audit firms in Dubai inspect potential theft or fraud and confirm compliance with applicable regulations and policies. They also support guaranteeing the accuracy of reports. Audits are an important part of a company’s effectiveness. It helps business analysis activities to identify ineffectiveness, reduces budgets, and then achieves administrative goals.
Difference between Auditing & Assurance
Auditing
Auditors measure the quality of financial information and how well this information is carried throughout a department or an entire company. This calculation is conducted by noticing the response to test scenarios and compiling a statistical report. Auditing is most frequently used in accounting to evaluate the quality of financial record-keeping. The auditor investigates the accessibility, clarity, and accuracy of financial data.
Assurance
Assurance services focus in assessing and improving the quality of information within a business or sector. This relates to financial information, customer feedback, employee feedback, almost any area where information is compulsory to make critical business decisions. Making decisions based on faulty information can lead to inefficiency or serious mistakes in company policy.
Types of Audit Service
Assurance & Audit Services in Dubai
Assurance & Audit Services in Dubai involve the objective assessment of Operational, Financial, Compliance and Information Technology Audits, or data by Internal Auditing. To offer an independent opinion or decision.
The scope and landscape of audit services in Dubai may contain reviewing and evaluation for operational competencies and efficiency, consistency of financial and operational systems, capability and clearness of policies and procedures, submission with university policy and state and federal law, protection of assets, achievement of purposes and goals, or other agreed-upon procedures.
We provide the following Audit Services in UAE;
- Operational Audits
- Financial Audits
- Advisory and Consulting Engagements
- Fraud Investigations
- Information Systems Audits
- Compliance Audits
- External Audits Services
Operational Audits Firms in Dubai
This function calculates risks and evaluates internal controls of operational systems for departments, units, and functions. Operational audit objectives contain responsible whether operations are functioning efficiently, effectively, and in accordance with management’s committed. The operational audit firms in Dubai function calculate the use of resources available to the department, unit or function to determine if management’s purposes and goals are being met in the most effective and efficient method. Several areas of operational audits include: organizational structure, asset management and security, staffing, and productivity.
Financial Audit Firms in Dubai
The financial audit task to develops audit programs to assess, evaluate, and make recommendations to management about accounting and financial reporting of transactions and happenings. The function’s central objective is to guarantee that the financial activity of the department, unit or function is completely and exactly reflected in the appropriate financial reports and in accord with applicable State and Federal regulations. Several areas on which financial audit firms in Dubai focus include: segregation of duties, authorizations and approvals, reviews and reconciliations.
Advisory and Consulting Engagements in Dubai
Advisory and consulting engagements include evaluation of existing business processes and strategies, as well as implementations. It also takes account of evaluation and advice on policies, procedures, process developments, and any management requests for reviews of areas considered mutually serious.
Consulting services are advisory and other service activities contain guidance, information, simplification, process design, and limited training. The goal of consulting services is to add value in the growth or alteration of processes, procedures, and controls to lessen risk and achieve goals.
The scope and landscape of particular consulting services in Dubai are agreed upon with management. Internal Audit Services will not undertake management’s responsibilities to maintain proper objectivity and individuality.
Fraud Investigations in Dubai
Fraud Investigations in Dubai estimate claims of fraudulent business practices and/or misbehavior connecting financial or operative matters to determine if claims are validated and to prevent future rates. This area includes, but is not restricted to, inappropriate activity or behavior involving in accounts and operations, i.e. fraud, waste or misuse of university funds/assets.
Information Systems Audits
The information systems audit function develops audit programs to assess, evaluate, and make references to management concerning the adequacy of internal controls essential in the University’s information systems, and the effectiveness of the associated risk management. The information system audit function assesses the scope to which automated information processing systems, technology, architecture and processes produce reliable and accurate information, and are in accordance with policies and techniques, and appropriate laws and regulations.
Compliance Audits
The Compliance Audit function improves audit programs to assess, evaluate, and make recommendations to management regarding the effectiveness of the University’s compliance program. The compliance audit function calculates whether the compliance program encourages a culture that promotes ethical and compliant behavior with satisfactory internal controls that effectively prevent and/or detect violations of laws, regulations, university policies or code of conduct; and ensures that compliance expectations and responsibilities are timely communicated to departments and employees.
External Audits Service in Dubai
External Audit Services in Dubai confirm external auditors in Dubai or controllers have access to the University staff and resources needed to conduct their audits. The coordination through a central office also supports to guarantee internal and external audit services in Dubai efforts are not duplicated. And that Internal Audit Services in Dubai is informed of any identified issues. Any office that collects notice for an external audit should inform the Director of Internal Auditing.
Follow-up Engagements
Follow-up engagements estimate plans and activities taken to correct previously reported conditions as a result of completed audits and surveys.
KGRN Audit Firms in Dubai, UAE
In the middle of dynamic market conditions, we are keen on attaining organizational benefits. And also adding value to the stakeholders by offering international professional audit firms in Dubai. Therefore, with internationally accepted accounting standards and methodologies.
Top audit firms are a highly difficult process. So, the need for auditors in Dubai is an important factor in the financial reporting network. On the other hand, trusted auditors in UAE play a vital role.
The worldwide network of accountants & auditors Dubai professionals at KGRN associate firms delivers a range of audit and advisory services. To support clients in attaining their business goals, managing their risk, and improving their business performance.
Using KGRN audit and assurance services in Dubai enables audit experts to deliver audit service quality and excellence.
KGRN Audit Firms in Dubai- Methods
The audit firms in Dubai approach are based on understanding the client, including the industry in which they operate, its organizational structure, and its internal control processes. Accordingly, the KGRN top audit firms in the Dubai process do not contain only verifying data in the financial statements with supporting documentation. And also includes analyzing the client’s business risks in its business environment.
Our talented accountants & auditors in Dubai examine the objectives of the business. And its strategy and analyzes its business processes, their inherent risks, and related internal controls. The best audit firms in Dubai add value by focusing the client’s attention on risk points and highlighting leading practice ideas for improving controls.
How can KGRN Audit Firms support businesses to grow?
The audit firms are an opening to collect a valuable vision into your business without partiality. Auditors report to the company’s shareholders (or members) on whether the annual accounts display a ‘true and reasonable view’ of the company’s financial activity and location. An audit contains of an inspection of the business accounts, including the accounting systems, invoices and other documentation. The auditor will confer their definitions with the appropriate senior management, adding value throughout this process having gained a reasonable thought of how the business operates.
If a company is increasing quickly, it can be helpful to opt for an annual audit, whether or not the above standards have been met. You may wish to do so for the following reasons:
- Shareholder reassurance
- Planning for sale
- Long-term growth/investment plans
- Reduce the likelihood of fraud
- Organizational review
- The company has received Grant funding
KGRN Audit Services in Dubai:
A company is only as effective as the internal control systems it uses and the processes it employs. Every once in a while, it is beneficial to review your internal procedures to maintain high efficiency in operations. Hence, audits help companies to ensure that all their internal controls are in order. Audit firms in the UAE enable companies to maintain compliance by going through their records and ensuring everything is in place. In this article, we will take a look at the benefits of Audit Services in the UAE, and how KGRN can help you with the same.
What are Audit Services?
Audit Services in the UAE helps businesses analyze their activities, identify gaps and ineffectiveness, and reduce wastage of resources. Furthermore, audit services also help organizations systematically achieve their organizational goals. Audit firms enable all of this by inspecting the financial records of companies to rule out chances for theft or fraud. Such audits also ensure that the company is maintaining compliance with Emirati laws and following applicable regulations and policies. They also provide support to guarantee the accuracy of reports generated by the business.
Benefits of Audit Services:
- Calculates risks and helps in mitigating them
- Evaluates internal controls of operational systems for departments
- Helps companies reach their organizational goals and objectives
- Helps with improving organizational structure
- Improving the accounting and financial reporting of businesses
- Ensure compliance with State and Federal regulations
- Add value to the process of alteration of internal controls, processes and procedures
Steps Involved In Audit Services In UAE
- In-depth study of existing systems, procedures, and controls for a proper understanding of the company’s needs
- Suggestions for improvement and strengthening of the systems in place.
- Confirming compliance with policies, procedures and statutes set up Emirati laws
- Comprehensive review to make sure that the accounts are prepared following Generally Accepted Accounting Policies and applicable Accounting Standards/IFRS
- Checking the authenticity of the expenses booked in funds to ensure financially compliance
- Reporting inadequacies at any operational level
- Detection and prevention of outflows of income
- Ensure account books and Balance Sheet/Profit and Loss Account match
- Issue of Audit Reports under various laws
KGRN Audit Services in UAE:
At KGRN, we provide clients with a highly effective, personalized and secure service that covers every accounting and auditing need your company will have. We bring to all our customer’s service of the highest quality, ensuring that you never have to worry about maintaining your records again. Partner with us, and ensure that you stay on the right side of the law by maintaining compliance at all times!
How do auditors in the UAE monitor effectiveness?
KGRN audit services in Dubai many purposes, but the principal tasks include:
- Risk assessment
- Process walkthroughs and documentation
- Control assessment
- Testing
- Reporting
Benefits of KGRN Audit Firms in Dubai
- The possibility of the audit is defined by management or the Board
- Audit “reports” straight to management or the Board
- Progresses the “control environment” of the organization
- Brands the organization process-dependent instead of person-dependent
- Identifies severances in functioning and control procedures
- provides recommendations to recover the efficiency and success of procedures
- Works on a timely basis
- It eventually rises accountability within the organization.
KGRN list of audit firms include
Statutory Audit
Following UAE Commercial Companies Law, every company will employ auditors to audit their books of accounts and submit audited financial statements along with the auditor’s opinion.
We provide statutory audit services to ensure full compliance with the Federal law and issue audit opinion which states true and fair views of the state of affairs of the company.
Free Zone entities audit
While the renewal of trade license, it is mandatory requirements to submit the audited financial statements to the Free Zone in Dubai authorities such as Jebel Ali Free Zone (JAFZA), Dubai Airport Free Zone (DAFZA), Dubai International Financial Centre (DIFC), Dubai Silicon Oasis (DSO), Hamriyah Free Zone, Sharjah Airport Free Zone (SAIF). It is also essential to submit audited financial statements of the branch of foreign companies registered in the United Arab Emirates. Audited Financial Statements are necessary to submit for the entities under liquidation.
Having a multi-facet experience we also provide audit services for the submission of audited financial statements while ensuring compliance with respective free zone regulatory requirements.
RERA audits
Established in 2007, Real Estate Regulatory Agency (RERA) is the governing body that regulates, formulates the regulatory requirements in the Real Estate sector in Dubai. RERA audits consist of – firstly, the audit of Developers as per RERA regulations which state that the developers have maintained Escrow accounts for each project which are undertaken by them which assist in an assessment of efficiency and effectiveness of the various activities on projects.
Secondly, for the projects which are completed must form an owner’s association following RERA regulations and to maintain an audit of its books of accounts with the submission of audit report annually to RERA. We at KGRN provide the RERA audit services to ensure that the developer complies with applicable regulations as required by RERA and also to provide fair opinion on books of accounts to make a clear picture to owners.
Agreed-upon Procedures
The auditor is to convey out measures of an audit nature to which the auditor and the entity and any appropriate third parties have agreed and to report on factual findings following International Standard on Related Services (ISRE) – 4400. We provide services intending to carry out procedures of audit nature and report on factual findings.
List of audit firms in Dubai
Audit services in UAE offer in the arena of GST, Audit, and Assurance (Statutory Audits, Internal Audits, External Audits, Due Diligence), Taxation Consultancy, Finance, Company Formation and payroll, etc
Big Four Audit Firms
Big Four is the name given to indicate the top auditing companies. KGRN audit services in Dubai conduct the audit of many public and private companies throughout the world.
KGRN audit firms in UAE have audit more than 80% of all the public businesses and concentration in other areas such as assurance, advisory, risk management, corporate legal services, tax, vat, financial planning, and consulting.
Other best audit services are
- Audit firm in DWC free zone
- Audit firms in jebel Ali free zone
- Audit firms in DIFC (Dubai International Financial Centre)
- Audit firms in Dubai airport free zone (DAFZA)
- Audit firms in DMCC (Dubai Multi Commodities Centre)
- Auditors in SIllicon Oasis Dubai
Quality Assurance
Audit and assurance services in dubai are providing various technical skills, advice, and assistance. And also periodic inspections are done to guarantee that the quality of the audits done by audit services in dubai are meet the requirements.
List of Government Approved Auditing Companies in Dubai
JAFZA Auditors
KGRN is the best JAFZA Auditors. JAFZA is one of the greatest free zones in Dubai and the Middle East area.. Read More
DMCC Auditors
According to the DMCC Approved Auditor Rules (AAR) gave on twelfth January 2017, each DMCC part organization must guarantee that their selected auditors are enrolled. Read More
DIFC Auditors
The DFSA, by its risk-based methodology, performs occasional risk evaluations of registered DIFC Auditors dependent on a risk cycle. Read More
DAFZA Auditors
DAFZA auditors are one of the most renowned and progressed free zones in Dubai. Read More
RAKEZ Auditors
RAKEZ auditors are a power set up to regulate and combine the specific parks and customers of the Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA). Read More
DWC auditors
DWC auditors – Dubai world central auditors service. Dubai world central (DWC) is an excellently arranged metropolis moving the emirate’s economy into what’s to come. Read More
Dubai Internet City Auditors
KGRN are the best Dubai Internet City Auditors. DIC or Dubai internet city is the biggest organized economic zone in the Middle East. Read More
Dubai Silicon Oasis Auditors
A Dubai Silicon Oasis Auditors full bundle of motivating forces and advantages are given to organizations working inside the free zone. Read More
Related Resources:
- Internal Audit Firms in Dubai
- ExternalAudit Firms in Dubai
- IT Audit risk management services UAE
- Audit for project developers in UAE
- ICV Audit