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BEST AUDITING & ASSURANCE SERVICES IN DUBAI

AUDITING & ASSURANCE

Audit service in Dubai

An external audit is an independent examination of the financial statements prepared by the organisation. It is usually conducted for statutory purposes (because the law requires it).

An audit results in an audit opinion about whether the financial statements give a ‘true and fair’ view of the:

  1. State of affairs of the organisation
  2. Operations for the period

In today’s dynamic remote working era, Internal Audit plays a key part in helping your organization maximize on its strategic business objectives. Risians brings the full range of the accounting and necessary financial skills, and industry experience to deliver the confidence and insights that are much needed to maintain financial transparency at each stage.

Our Internal Audit Methodology is a global approach to providing internal audit outsourcing and co-sourcing services. We are the experienced tax agents in Dubai who follow this risk-based approach that dovetails our clients’ objectives and impediments to achieve those goals. We have been consistent with our execution in every internal audit practice to become the leading audit firm in Dubai.

Forensic Auditing Services

Our team is consists of certified and trained testifiers, data mining and computer forensic specialists, CPAs, accounting fraud examiners, witness interviewers, etc. Our firm is well known for the Forensic Audit in Dubai. We provide regulatory and advisory services so that all your accounts are set as per the protocols. Our main services to tackle accounting fraud are litigation support services, bankruptcy services, corporate investigation, and other forensic services.

Process of Auditing By Risians Accounting

Planning

The process of a financial audit begins with a plan that involves the method of collecting data to form an opinion about the organization or company’s financial status. A way is planned to collect a sample reflecting a point in time in the life of the company or organization. The financial transactions and documents are then looked at. It is noteworthy that the sample should show compliance with GAAP.

Financial Audit Tests

Testing implies checking whether the internal controls are implemented and if yes, are working effectively or not. An auditor requests more information returns to the company for more inspections and watches how financial procedures are being performed. If the evidence demonstrates that the organization is in compliance with the statutory standards, the auditor determines that the company successfully detects and prevents errors.

Account Analysis

In the account analysis process, the auditor will check all the details of the account and its accordance with the information present in the documents. The auditor will document the reasons behind the changes in the accounts since the last audit. The required research and information gathering will also be done by the auditor to justify those changes.

Preparation Of Audit Report

After the testing and the analysis procedure, the auditor will prepare an opinion report. This report will contain all the information about the organization, the tests that are being used and the details of financial statements. It will also contain the weaknesses in the internal control processes or any issues which still need elaboration. The report will be submitted to the higher authorities after completion. The whole process of financial auditing depends on the nature and departments in the organization. After the completion of the report, the auditor from top auditing firms in Dubai UAE is responsible for getting the signatures of the management on the reported information and financial statements.

Areas of Focus

For many organizations seeking auditing firms in UAE, the best way to have a full scope internal audit function within the specified budget envelope demands a wide range of skills to review different areas and risks. We do this by leveraging our full managed service as we coordinate with specialists in well-designed package led by a compact core team equipped with latest financial software and tech expertise.

  1. Complying with Code of Ethics provisions (integrity, due care, objectivity, professionalism, confidentiality, professional competences and technical standards etc.
  2. Definition of terms of engagement
  3. Planning (obtain knowledge of business
  4. Document the important findings and procedures (analysis, enquiries, observations, inspection etc.
  5. Procedures familiarity with GAAP / IFRSs – assessment of internal control – ensure quality of information
  6. Reporting limited to the compilation of information supplied by the Management).
Why choose our Auditing Service Firm
  1. Have a clear understanding of your financial domain
  2. On-time report delivery
  3. Experts advise at every step
  4. A critical analysis of the business financial front
  5. Tailor-made solutions
  6. An in-depth analysis of your company’s finance
  7. Filing tax obligations
  8. Total adherence to existing governmental law
  9. Verification of interior controls
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    Frequently Asked Questions on Auditing in Dubai
  • Is statutory audit compulsory in Dubai?

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    A legal procedure, a statutory audit helps ascertain and understand the correctness of the financial records and statements of an organization. Since all government departments and organizations need to report their performance, it is mandatory that they must conduct statutory auditing from time to time. Often, statutory auditing is conducted for the public to determine whether or not the business is providing accurate information to the public. Due to the extensive and highly intricate nature of statutory auditing, only an experienced and trained auditing firm can execute the same.

  • How auditing will help for tax filing?

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    Auditing is essential for ensuring that the firm is maintaining the financial records correctly and there are no mismatches, including mathematical errors. Periodical inspection of financial statistics will prevent any kind of frauds. Help the business firm in filing the correct tax data, and aid in planning. Support from external auditors could be sought to confirm that there are no errors in the financial records. Auditing agencies in Dubai with expertise in the field can help you in this regard.

  • How internal audit differs from external audit?

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    Internal Audit is a constant or continuous audit activity which is performed by the internal audit department of the firm or an organization. External Audit is an examination and evaluation by the third or the independent body, of the annual statements of accounts of the organization or an entity to give an opinion thereon. Internal audit is discretionary, which means there is no compulsion for the same, but the external audit is compulsory. The internal audit report will be submitted to the management. However, the external audit report will be handed over to the major stakeholders such as the shareholders, creditors, debenture holders, suppliers, the government, etc. Internal audit is ongoing and a continuous process, while the external audit is conducted on an annual basis.

  • How long does an audit typically take?

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    Audits are typically scheduled for three months from beginning to end, which includes four weeks of planning, four weeks of fieldwork and four weeks of compiling the audit report. The auditors are generally working on multiple projects in addition to your audit.

  • How confidential will the information I provide to you and my audit report be?

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    Confidentiality is one of the most important of audit’s code of ethics that required the auditors to keep information that they obtain from clients during their audit confidential. In other words, the information should not hand to people that are not authorized to access it. Normally, the auditors could have the right to access most of the information of their client. Some of that information is not sensitive yet some are very sensitive.

  • Why would you would want an audit for your financial statements?

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    The importance of auditing cannot be overstated. A good auditor is not only able to clear your issues quickly, but also helps you improve your company. Although the main reasons for a financial audit have to do with business and legalities, you shouldn’t forget the psychological aspect that is very important when dealing with other entities, such as banks, clients and shareholders. If you conduct regular audits, you will generate more confidence from the people you work with, as well as with government institutions.

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My experience in working with this team is very much a positive one. Their professionalism is refreshing. Thank you for making the process a very pleasant experience.

Ms. Arshameh Parmoun Tag Properties

We have been working with RISIANS Chartered Accountants on a couple of assignments. At all times they are professional, organized with whatever assignments we have entrusted with them. Being a approved audit firm they are well aware with the regulations and compliances. I will recommend the team highly enough and shall certainly be engaging with them again and again in future assignments.

Moin Abbas Al Ajwad Auto Works

I would overall rate team RISIANS work as exceptional. The team was successful in delivering quality audit, irrespective of the tight deadline and it was way better than the predecessor. We can definitely build more knowledge for future.

Ajit G Vernekar AL SHAFAF REPACKING SERVICES

RISIANS proactiveness and precision towards managing our accounts and helping us constantly whenever we are in need of is a dynamic quality that makes us want to recommend to any company or an individual. Looking for a great accountants without any hesitation.

Aqeeb Aqeeb Internstional
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Sheikh Zayed Road, Dubai-UAE

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