AUDIT & ASSURANCE

Audit and assurance provide an independent and objective assessment of the financial and regulatory compliances of a company for its management to make better-informed decisions. They also reduce the information risk by providing accurate data in proper documentation form.

Assurance in general English means a positive declaration intended to give confidence. The same applies in accounting firms. Assurance of a company can be gained through auditing at any given time. Sometimes it is recommended in situations like:

Types of audits offered by our top auditing firm in Dubai are:

Due Diligence: Concept of due diligence has been lately evolved in the need of increasing exposure of business to financial threats. Due diligence is an audit form in which the main focus of an auditor is to track false behavior, practices etc. and reporting the same to management for their corrective actions. Auditor in due diligence uses his professional skepticism in order to develop material substantiation on misleading/false records and transactions.

The auditing and assurance of your company are done according to the International auditing and assurance standards board with the inclusion of five key elements for a professional assurance:

  • A three-party relationship: assurance is usually done when a company’s stakeholders ask for it. they become the users who rely on the information provided by the auditors to take any action. The management of the company becomes the responsible party for the audit and the audit firm becomes the practitioner.
  • Agreed subject matter: any part or process of the company can be audited for assurance. Be it its financial statements, operations or a complete integrated audit. The user or the responsible party suggests the process to be audited.
  • Suitable criteria: there must be a framework against which the auditor can give the result to compare. They can either be government policies or a particular system against which the audited company is measured.
  • Sufficient evidence: we, the auditors will base our reports on substantial evidence found in the company records against the criteria.
  • A written report: we provide you with a standard, concise report with clarity and actionable recommendations of the areas we audited in your company.

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