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