AUDIT & ASSURANCE
Audit and assurance services are all about providing independent verification and credibility to a company’s financial information, processes, and controls. They offer a sense of security to stakeholders like investors, creditors, and even regulators.
EXTERNAL AUDIT
Audit and assurance services are all about providing independent verification and credibility to a company's financial information, processes, and controls. They offer a sense of security to stakeholders like investors, creditors, and even regulators.
External audit services in the UAE are provided by independent auditors who express their opinions on financial statements prepared by an organization.
This type of audit is also known as a statutory audit.
Objectives of External Audit Services
To ascertain whether the financial statements provided by the company are factual and accurate.
To ensure that the financial statements presented are complete in all material aspects and comply with the financial reporting framework.
Process of External Audit Services in UAE
The process of external audit services in UAE involves the following steps:
• Appointment
The company’s stakeholders propose appointing a firm to conduct an external audit.
• Acceptance of Engagement
The audit firm confirms the external audit engagement if they are okay with the scope of work and feel that the company management will not curtail their independence.
• Audit Requirements
The statutory auditors ask the client to provide necessary information concerning the company to gain a preliminary understanding.
This includes:
– Company profile
– Key employees Memorandum of association
– Articles of association
– Past audit reports
– Internal audit reports
– Policies and procedures
• Audit Planning
The external auditors prepare an audit plan after undertaking risk assessment and deciding the analytical procedures they wish to apply. They also understand the regulatory requirements applicable to the entity and decide the nature, timing, and extent of audit procedures.
• Audit Execution
In this stage, the actual audit work starts. Based on the audit execution plan, risks and controls are evaluated. The external auditor is satisfied with whether the internal controls operate as intended.
• Issuance of External Audit Report
The draft audit report is prepared based on the information gathered and the auditors’ findings. The external audit services report is then checked, finalized, and issued to the client.
• Audit Follow-up
Finally, the audit firm follows up with the client on the recommendations made in the audit report and verifies the corrective measures taken
Get In Touch
Chart of Accounts
- Asset Accounts
- Liability Accounts
- Equity Accounts
- Revenue & Expense Accounts
Journal Entry Posting
- Asset AccoJournal Account Codingunts
- Approvals
- Posting
- Filing
Expense Allocations
- Obtain Approvals
- Record Expenses with Allocations
- Estimate expenses incurred but not billed
Period End Closing
- Period End Close Checklist
- Record Goods Shipped & Issue Invoices
- Record Goods Received & Record Expenses Finalize
- Finalize P&L and Balance Sheet
GENERAL ACCOUNTING AND BOOKKEEPING
Let Us Help You Grow!
Let's partner to reduce your cost by 60% with assured quality!
IFRS ADVISORY SERVICES
IFRS Advisory Services focuses on helping businesses navigate accounting and regulatory changes effectively. These services involve making connections and facilitating the change management process by bringing together technical accounting, technology, data, process, and industry expertise. Tailor-made solutions and project-enabling tools are offered to integrate new accounting standard requirements across the whole organization.
BUSINESS VALUATION
Business Valuation services provide a comprehensive assessment of a company’s worth, enabling investors, businesses, and financial institutions to make informed decisions.
These services utilize various methods, including financial analysis, market comparable, and future growth projections.
Friendly Price Package
This is a short description elaborating the service you have mentioned above.
Most Affordable Co-Working Place In The City
A descriptive paragraph that tells clients how good you are and proves that you are the best choice that they’ve made. This paragraph is also for those who are looking out for a reliable co-working space. You can use a few enticing words and flaunt your capabilities that will attract future clients and encourage them to hire you right away. List down your expertise and experience to prove you are the best.
Membership Package
Dedicated Office Package
