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Audit Services

Audit Services in Dubai, UAE

Forensic Audits in Dubai

Fraud, financial crime, embezzlement, and breaches of laws and regulations are standard parts of any business. Our experienced team of auditors can help you become more robust with comprehensive forensic Auditing throughout Dubai, Abu Dhabi, and Sharjah, UAE. With professional credentials and specialized expertise in forensics, our team will help you be resilient to safeguard the value of your business and establish confidence. We can assist you in:

Fraud detection
Corporate crime
Disputes and litigation
Data security concerns

Audit

Make My Company is a leading external and internal accounting company in Dubai, Abu Dhabi, and Sharjah. Auditors make an essential contribution to the business’s ongoing operations by identifying areas that are not performing as well, strengthening the corporate governance structure, and improving efficiency. You can enjoy the following benefits from our external and internal audit services in the UAE:

Internal control that is robust along with the business organization
The implementation of the best practice and procedure
Be sure to comply with the laws and regulations
Improve operational efficiency
Find and eliminate non-value-adding actions

Our team of experts has been trained to analyze your financial statement and the accounts of the client’s company under the International standards for financial regulation. We are committed to offering trustworthy, reliable, and transparent auditing services to ensure customer satisfaction.

Audit Firms in Abu Dhabi, Dubai, Sharjah, UAE What services do Audit Services offer in Dubai, Sharjah, and Abu Dhabi? What is its significance of it? Key Types of Auditing Services in Dubai, UAE Compliance Audit Services in Dubai UAE Forensic Audit Services in Dubai UAE Operational Audit Services in Dubai UAE

External auditing services offered by Abu Dhabi are needed for any business, large or small company, to meet the requirements of the authorities and government. Services provided by Audit firms located in Dubai, UAE and auditors are crucial in evaluating the financial value and performance of the company.

In the past few years, Dubai has transformed into a hub for businesses of all sizes and types. As the emirate provides entrepreneurs or those looking to establish suitable arrangements for political reform and the prospect of making huge profits due to the expanding economy, many decide to develop their business in Dubai. That is why business owners are drawn to start their ventures and establish their companies in Abu Dhabi, UAE, not only to come from Dubai as well as from the United Arab Emirates but from across the globe.

While it is crucial to ensure that your company's activities are carried out correctly and that you can meet goals, it is essential to ensure that you're following regulations and guidelines from the government—one way to pick the most reliable Audit firms located in Dubai that offer outside Auditing.

The term "audit," in essence, refers to an evaluation. External audits are a review of the business to ensure that it complies with various regulations and laws imposed by the government. Our main objective is to determine if the financial statements of the company and records are, in fact, accurate and give the accurate public information about these, as well as assess the company's overall performance. The General Meeting of Shareholders selects the top auditors/best audit firm for Dubai, UAE, for three to five years.

The two following are the principal reasons for having an external audit Service within Dubai:

  • Statutory Audit Reports for Dubai: A statutory audit report from Sharjah, UAE, enhances the firm's credibility and increases its credibility.
  • Assessment of Clients conducted by Audit Companies from Dubai: It is a great way to be proactive before running any business with prospective clients by looking at the company's business.

Companies acquire auditing services for a variety of purposes. These may include reviewing books of accounts, determining whether due taxes have been paid and whether refunds have been claimed. An audit can also cover matters that are not financial. Some common types of audits in the UAE include internal, statutory, excise tax, financial, information system, and payroll audits.

An audit is conducted to determine the accuracy of a company's financial information and operational processes. An audit can help assess a company's ineffectiveness and improve the quality of its financial and operational data. An audit can help businesses make better decisions, reduce costs, and achieve organizational goals. An audit is a crucial part of management effectiveness, as it helps to identify inefficiencies and ineffectiveness and helps ensure that financial data is accurate and accessible.

The goal of an audit is to ensure that a company is running following its principles and the requirements of its institutions. A company's financial statements must be accurate and reflect monetary transactions properly. An auditor performs an audit by examining accounts, comparing charges and vouchers, evaluating balance sheets, and verifying information. While a company may hire an auditor to provide these services, finding a qualified company for the job is essential.

Internal audits are a vital function of any company. An internal audit is a comprehensive review of a company's processes and systems and can help prevent fraud, abuse, and compliance with regulations. The goal of an internal audit is to keep a company on track and following international standards. Business owners typically conduct internal audits, which are essential for monitoring the effectiveness of a company's management systems. Internal audits also involve evaluating and improving risk management policies and processes.

A Compliance Audit assesses an organization's adherence to regulatory and legal requirements. This audit will focus on compliance preparations, security policies, user access controls, and risk management practices. Compliance audit procedures can vary depending on the organization and the type of data handled and stored. They will also evaluate the compliance conditions of day-to-day operations. For example, a financial firm may require compliance audits for its marketing and sales activities.

To avoid such a problem, companies should consider hiring compliance auditing firms that use a simple approach and produce effective results. Compliance auditing services will ensure that internal control procedures are in order, enabling a company to maintain high efficiency. Companies that work with audit firms in the UAE can keep up with compliance requirements by reviewing records and ensuring everything is in place. Here are some tips for choosing a Compliance Audit Service in Dubai UAE.

Complying with regulations is an essential part of the business. A business must conduct compliance audits to get a license, continue operations, and maintain a clear record of the processes. An audit can improve business operations and profitability. A business with a high-profile client list may consider hiring a Compliance Audit Service in Dubai, UAE. Once you've gathered the needed data, you can determine which service will work best for your needs.

When it comes to compliance, there are two main types. One is external, and the other is internal. External audits examine financial records and operational paperwork, and compliance audits provide information on violations and recommendations for improvement. This report is then released publicly. In addition, a Compliance Audit Service will also review and recommend improvements to the business's compliance procedures. In addition, the Compliance Audit service will also check employee performance and other business departments.

Forensic audit services in Dubai UAE examine and evaluate company financial records. The findings of these audits are used in court proceedings as evidence or as part of registration in the Dubai Police. Forensic audit services are also valuable for assessing financial claims of different natures. In Dubai, Russians Accounting and Auditing is a certified forensic auditing firm. These experts are registered with various free zone banks and provide forensic auditing services to private companies and other businesses.

Different companies employ forensic audit services in Dubai to identify and eliminate irregularities in their financial records, enabling them to take necessary action. Forensic auditing can also identify unprofessional behaviour within an organization and careful management to correct any deficiencies. With the help of forensic audits, businesses can avoid potential legal issues and increase the conversion rate of customers. Therefore, hiring a forensic auditing company is an important decision for any business.

The primary purpose of forensic audit in Dubai is to detect and prevent fraud in an organization. Fraud can cause a company to lose a fortune, so it is essential to avoid it. Additionally, forensic audits help companies establish credibility among customers and investors. Forensic auditing can help businesses avoid legal troubles by setting an accurate and impartial record. So, if you are a business owner looking to improve your business, hiring a forensic auditing firm in Dubai, UAE, is an excellent idea.

A forensic audit can identify and prevent fraud by detecting inconsistencies in financial data. Using this method, qualified accounting firms can identify and prevent fraud before it happens. Moreover, it can prevent future losses due to fraud. So, looking for a forensic auditing firm, look no further than pushing Digits. They will help you find out what went wrong, and you are never too late to get help.

If you're looking for a company that provides Operational Audit Services in Dubai, UAE, you've come to the right place. With the help of a professional internal auditing team, you can rest assured that your business is being assessed against important non-financial operational performance indicators. These measures can range from productivity analysis, capacity assessment, and production volume measurement to quality analysis. These include internal and external business process assessment, product quality benchmarking, and ISO certification.

The objective of operational audits is to review processes and effectiveness and to identify weaknesses and gaps. They can also evaluate financial systems and assist management in developing and implementing strategies. Finally, operational audits in Dubai help companies maintain compliance with various laws and regulations, and these audit firms also go through records to ensure that everything is in order. If your company is looking for Operational Audit Services in Dubai, you can rely on Make My Company's professional internal auditors to ensure everything is in order.

A certified internal audit in Dubai can help you protect your control environment by identifying risks and gaps in the controls. The audit also helps companies comply with various regulations. UAE internal auditors will ensure that your company follows all the laws and regulations. They are highly experienced in ensuring compliance. So, whether you are looking for Operational Audit Services in Dubai UAE or a company that provides them, these professionals can help you succeed.

Internal auditing services in Dubai UAE are vital to improving the functioning of a business. They are essential to prevent fraud, protect organizational goals, and maintain financial and operational efficiency. Professionals with certifications in internal auditing in Dubai will examine the financial records of companies to eliminate fraud and mismanagement and improve internal control procedures and systems. They can also provide valuable advice about risk management. In addition to auditing services in Dubai, SMEs can consider hiring an internal auditor in the UAE to review their internal control practices

Information & Technology and Systems Audit Services in Dubai, UAE

IT and Systems Audit Services are necessary for assessing an organization’s information systems’ overall performance and risk management. These services assess the effectiveness and cost-benefit ratio of an IT system and evaluate the effectiveness of the organization’s information security management program. Information systems make up a significant portion of an organization’s budget. An effective IT and systems audit service will help ensure that a company’s information systems are aligned with its goals and objectives.

IT audits are critical to ensuring that data is secure and confidential. Performing an IT audit will ensure that systems are operating efficiently. An IT audit will also assess data security and integrity. A quality IT audit service will reduce the risk of data leakage, tampering, or loss. By evaluating the safety of your organization’s information systems, IT can help ensure that your organization’s IT department is on track to meet its goals.

It is essential to conduct regular audits to ensure that your company is operating efficiently. In addition to assisting your organization in obtaining funding, auditing services will help ensure your business’s ongoing performance. As a business owner, you should consider hiring a professional IT and systems audit service provider in Dubai. They can help you determine if your business meets the highest efficiency and profitability standards. The following are some reasons to hire an IT and systems audit service in Dubai.

Internal audits: An IT and systems audit help in detecting fraud, wasting resources, and enhancing the overall goodwill of a business. There are also many other reasons for an audit. It can help you gain customers or expand your business into new markets. Governments in the Middle East recognize the benefits of Foreign Direct Investment and are open to foreign corporations. Companies in the United Arab Emirates must conduct an audit report to comply with UAE law. While this may not be necessary for many jurisdictions, making sure that your systems are compliant is still essential.

Why Make My Company a Great Choice for Audit Services in Dubai, Abu Dhabi, UAE 2022?

The external audit services in Dubai are essential for any business, and the services hired must be able to assure you of value, and that is where Make My Company, the best Audit firm in Abu Dhabi, specializes. We understand that the auditing scenario has changed over the years and continues to change regarding regulations, competition, and technology. We offer to you highly experienced professionals who would be able to provide the correct views and would thus aid in making the right decisions.

Moreover, Make My Company, the best Audit Firm in Abu Dhabi, is dedicated to using state-of-the-art auditing tools while following only the proven auditing methodologies to ensure that the audit services we offer are suited for your particular needs. To ensure our consultants can provide expertise, we work on their transaction, tax, and technology skills and have made significant investments in digital technology and innovation to empower them. This has helped us analyze both the risks and potentials in our clients’ companies and has enabled us to identify problems and offer helpful advice or expertise, which helps in the long run. Our audit services in Sharjah are designed to cater not just to investors, stakeholders, the audit committee, etc., but also to others.

Our team of consultants in Dubai, UAE, was 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 assisting them in developing their digital technology skills so that they can be kept abreast of all the changes in the field of audit. In just a few words, Make My Company, a top audit firm in Dubai, strives to offer clients different auditing services while ensuring the professionalism and efficiency of the services.

Auditing Services in Free Zones in Dubai UAE

Many free zones require auditing reports for companies to stay in compliance with the law, but some have opted to waive this requirement for their residents. If your company is interested in free-zone status, you should consider the benefits of hiring an auditing firm. Below are a few benefits of hiring an auditing firm in Dubai. 

Benefits of Audit Services in Dubai UAE

If you are a business owner in Dubai, you should know about the benefits of auditors. We will carefully check the data and observations that you have provided us. Our auditing services will help you resolve specific problems and ensure that your company operates as it should. Whether you are looking for new clients, expanding your business, or looking to improve your current performance, We are the best choice for you.

When your company is registered in a free zone, you must submit financial reports every year. Whether you run a small or medium business, you must conduct a financial audit. We will help you comply with the requirements and regulations in free zones. The cost of auditing services will vary depending on the size of your company. Generally, the fee for a full audit in a free zone will be about AED 1000 – AED 25000. A free zone company is exempt from 5% Value Added Tax.

An external audit will give you peace of mind as a business owner. A thorough audit will ensure that financial reports are accurate and the company is not breaking the law or endangering the health and safety of citizens. An audit also lets authorities know you’re a good steward of the environment and resources. An audit will assure banks and investors that their money isn’t at risk, and employees will view your financial statements as indicators of how profitable your business is.

Importance of Audit Report in Dubai UAE

Companies registered in one of the free zones in Dubai must obtain an audit report on their annual financial statements. In many cases, failure to comply with these regulations can result in hefty fines. Getting an audit in a free zone is the most effective way to avoid these penalties and ensure compliance with laws. Make My Company is the leading free zone auditor in the UAE and is registered with all the major free zones; Our service includes an annual report by all free zone regulations.

The requirements of the free zones include auditing their financial statements and having an independent auditor review them. Although some companies may not be required to file an audit report, they must maintain accounting records to demonstrate compliance with laws. If an audit report is unavailable, the free zone authorities may require the company to go through the immigration process. Companies should keep their records and ensure they are audited regularly.

Guidelines for Audit Findings in Dubai UAE

A company operating in the free zone of Dubai must keep books of accounts at its registered office or another designated location. The auditors of reputed free zones in the UAE will need access to these financial statements. Failure to comply with these requirements can result in penalties and non-renewal of the trade license. The following are guidelines that free zone auditors should follow. To ensure compliance with these regulations, companies must keep a chronological record of their financial transactions.

One of the primary benefits of operating in a free zone is that different laws and regulations govern it. For example, companies in the Dafza free zone are exempt from a tax on capital and profits. They also benefit from a more favorable customs and import regime. Additionally, they can benefit from labor recruitment assistance and other support services. By following these guidelines, free zone companies can maintain accurate and reliable accounts and avoid incurring penalties from the Customs department.

What is Independent Auditor's Report in Dubai UAE

In the UAE, public limited companies must undergo an annual audit by an independent external auditor. This report, a statutory requirement, is prepared by an audit firm in Dubai. It follows the International Financial Reporting Standards or IFRS. The Independent Auditor’s Report for DXB Entertainments, for example, highlights the real-life applications of the content. Moreover, the report also includes the title “Independent Auditor’s Report” and states its objective.

External Auditing aims to determine the validity and reliability of an organization’s accounts. It is a process of examining accounting documents and financial transactions to ensure they are accurate. Errors in the trades can adversely affect a company’s profitability. External auditors are third parties who perform a thorough review of the financial records of an organization. They have no ownership interest in the organization, so their objective assessment helps public authorities assess the financial health of an organization.

A company that wishes to obtain a license in the UAE must receive an audited Financial Statement. Even though the UAE has no corporate tax, it must file annual financial return statements to keep its license active. The audit report makes the process of renewing a license easier and faster. Furthermore, most banks in the UAE require an audited Financial Statement before approving a business loan or credit facility.

How will Artificial Intelligence change the Auditing Function in Dubai, UAE?

As technology continues to evolve, so does the auditing profession. Blockchain, artificial intelligence, and data analytics are becoming the buzzwords of the moment. These technologies have a significant impact on the audit profession and the way companies do business. They can increase operational efficiency, provide meaningful insights, and address various risks. However, the audit profession must keep pace with these changes or risk becoming irrelevant.

While robots and AI rapidly change the business world, they still need humans for human interaction. The SOX Act, which aims to encourage good corporate governance, requires companies to have a robust internal management structure and high levels of auditor independence. AI is one of the most critical trends in the audit industry, poised to revolutionize how audits are performed.

AI allows the examination of large amounts of data and can identify outliers and exceptions. Machine learning can also automatically code accounting items. Advanced AI models will improve fraud detection. Deep learning evaluation helps analyze unstructured data, such as social media postings and conference call audio files. AI will enhance the efficiency of the auditing process, and the auditing function will need to adapt to the pace of business progress.

What is Auditing Evidence?

The term “auditing evidence” is generally used to refer to the records gathered during the financial audit. These records are usually compiled in audit working papers, and this evidence serves as the basis for the financial audit report. The evidence obtained is often the most critical part of the audit and must be considered carefully. Here are some essential details to remember when evaluating audit evidence. Hopefully, this information will help you better understand how the evidence obtained during an audit can help your business.

The evidence produced during an audit is based on various audit techniques. Analytical procedures provide proof of the reasonableness of assertions. Various audit techniques make different types of audit evidence. These techniques include inquiry, documentary examination, and tests. Some of the most common types of audit evidence are documentary and testimony. Some types of audit evidence also involve a company’s quality control procedures. Various kinds of evidence are considered to be relevant in a financial audit.

What is the purpose behind conducting an Audit?

The primary purpose of an audit is to verify material information and confirm management reports. This audit may be scientific, or stakeholders may require it. The goal is to establish an audit trail of financial transactions, highlighting inefficiencies. The audit report will include the details of significant accounting policies, notes, and other explanatory information. Following the guidelines and standards is essential to ensure the information presented is accurate.

The purpose of an audit is to provide assurance based on the evidence gathered. Audits compare evidence against a stated criterion, requirement, or measure to determine whether a company follows sound business practices. For example, a financial auditor will compare a client’s financial statements to the Generally Accepted Accounting Principles (GAAP) standards. The auditor can then state in their report if the client’s financial statements comply with GAAP. An internal auditor might evaluate the purchasing department’s purchase practices against city regulations.

Is internal audit and External audit is same?

The difference between an internal and external audit is that an internal auditor is an employee of a company. In contrast, an external auditor is an independent third party appointed by the company’s shareholders. Both internal and external audits must be impartial. Both have the same role – to determine if the company is complying with laws and regulations and detect areas of operational non-compliance and fraud or abuse.

Regardless of your role, a corporate audit is a vital aspect of ensuring the financial integrity of a business. Companies must have a reliable financial report highlighting any weaknesses, and companies are expected to report all financial details and risks regularly. An audit firm can assess these issues and recommend improvements to improve the company’s performance.

Financial reports must be submitted regularly in free zones to renew trade licenses. While a piece of standard financial information should cover a yearly period, some options are more appropriate, such as quarterly or monthly reports. However, companies should only enlist the services of DMCC-approved auditors, as non-compliance can negatively affect a company’s trade license.

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