An audit is crucial to provide a clear view of the company’s working. It forms a judgement about the company on basis of information provided in the financial report. It is carried by an external body specialized and licensed to perform the task.
Importance of Audit is as follows –
- Helping in avoidance of frauds, required to ensure the smooth operation of business activities.
- Confidence is key to company’s success and therefore auditing proves to be a method to maintain that.
- Reputation and image of a business is important for the overall growth of the company, thus audit can help to enhance and provide the right image of the company.
- Planning the future of business with audited reports can prove to be an accurate decision.
- Promotes efficiency within the internal operations of the business.
- Investment boosts the growth and thus the accuracy of figures will encourage investors to make a wiser decision.
- Reliable statements through audit are evidence of well-planned business.
- Trustworthiness is an important ingredient in maintaining the company’s image which can be ensured thoroughly.
Mandatory requirements for audit in UAE–
- Records of financial documents segregated and properly maintained to ease the task of auditors.
- Maintenance of all records, no less than 5 years.
Firms in UAE are although not enforced to submit the audited report by authorities, yet the importance of it cannot be undermined.
UAE has individual audit laws in certain free zones in which the companies must follow to avoid legal actions.
We as a licensed Auditing and Accounting firm and ensure to provide our quality services including the following –
- Audit, Assurance & Certification
- Tax Consultancy
- Liquidation & Mergers
- Management Consultancy
We ensure the satisfaction of our clients and delivering good quality work is our utmost priority.
Please feel free to reach out to us at firstname.lastname@example.org for further information.