We would have heard the term ‘audit’ An audit is a process of examining and verifying the financial structure of a firm. Audit firms in Dubai help the company to track the updates about the business. Audit firms in UAE make sure that the firm is compliant with the set of laws, regulations, and accounting standards of the land. There are three types of audits: External audits, internal audits, and Internal Revenue Service (IRS) audits.
Roles of audit firms in UAE:
Both external and internal audit firms have many roles. The government needs to approve the audit firm and the auditors to carry on with auditing.
External Audit firms give you so many suggestions on how to develop the company in all financial aspects. Internal auditors play a significant role. They provide extra support to the company by working as consultants, who take care of the administration on how to handle the risk factors that they have examined.
The audit firm is always responsible for maintaining an independent attitude from your business or firm. A shortfall of independence means that the auditor might fail to address audit problems. It may lower the credibility and assurance of an external audit.
The audit firm must not have any relation or personal interest in your firm.
The partners of the audit firm must ensure that none of them has any joint ventures or significant investments in the company before beginning an audit.
Types of audit services:
- Statutory Audit/ Year-end Audit
- Internal Audits
- Management Audit
- Forensic Audit
- Taxation Audit
- Audit of Bank and Financial Institutions
Advantages of audit services:
The following are the benefits of audit firms:
- Identifies risk
- It accomplishes the objectives of the business.
- Boosts valuation and credit rating
- Audit firms give the overall picture of the business.
- Better planning
In the list of Audit firms in Dubai, KGRN is a well-known platform with hundreds of professional experts.
For enquiries, call +971 45 570 204 / E-mail: email@example.com