Audit Services in Dubai
18 November, 2020
The benefits of auditing are still unknown to many; people still doubt the need for auditing to run a company. Auditing is the technical service to the economy to analyze the performances in the financial position of any company or entity. Auditing requires a lot of logical reasoning and quick application of the mind. It is mandatory for every company to audit their book of accounts in UAE which makes it necessary to avail of audit services in Dubai.
Auditing will help you know the financial state of your company and let you be aware of the risks, such as malpractices on accounts, mistakes in accounting and so. Availing auditing services will let you manage your risks efficiently and double-check your accounts and errors if any. It is natural for people to create mistakes, but auditing will help you be safe of future crisis’ caused due to some manual or technical mistakes. In short, auditing services let you become more vigilant in your accounting procedures, as well as the functioning of the management and save you from further issues.
Many people wonder about the different types of auditing services in Dubai. With the recent addition of Value Added Tax (VAT), the mobs are more curious about knowing the type of services to avail for auditing their book of accounts. There are different types of audit services in Dubai.
Types of audits:
- Internal audit
Internal audit is a management function conducted by a professional auditor whether in-house or not, who looks into the overall functioning of a company.
- External audit
External auditors are independent of the entity of which the audit is to be carried out; the external audit is done to reassure the accuracy of financial statements.
- Forensic audit
A forensic audit is done to establish a fact; i.e., investigating through the process of auditing, whether any fraudulent practices have taken place within the entity.
- Tax audit
Tax audits are made to analyze the accuracy of tax returns filed. It is a type of compliance audit that is only done to audit the tax files.
- Compliance audit
Every country requires specific audits to comply with the particular laws and regulations of each nation. It will only be done to analyze those specific needs. VAT audit, income tax audit, are all examples for a compliance audit.
An audit helps in reviewing the whole functioning of an entity, as there is a number of audit services in Dubai made available to you; it is wise to look for an experienced and professional auditor for your company. HLB HAMT provides you with the best audit services in Dubai. We have well experienced and professionally qualified personals to help you in need. HLB HAMT is more than happy to guide you through your journey with our valuable audit services in Dubai.
Go to our service page: Audit and Assurance
The Relevance of Data Analytics in External Audit
It has been a decade since banks, insurance companies, and retail sectors, large corporations started using data mining with technology companies’ help for analysis, design, and model.
Adapting to Remote Audit
The COVID-19 pandemic has presented many business challenges. Large organizations around the world pivoted to remote work to maintain business continuity
Get in touch
Whatever your question our team will point you in the right directionStart the conversation