Audit Firms in Abu Dhabi
Updated on Friday 19th February 2021
Rate this article 3 reviewsbased on
Companies established in Abu Dhabi, the UAE capital, must observe the general accounting rules and hire the services of audit firms. It is important to align with the local and international accounting rules, helped by one of our accountants in Abu Dhabi. Our team of specialists is at the disposal of both local and foreign entrepreneurs with businesses in Abu Dhabi. We also present you information about audits in Abu Dhabi.
Short facts about audits in Abu Dhabi
Our qualified auditors in Abu Dhabi can be hired for a series of audit procedures that reveal the financial status of the firm among other aspects. It is important to note that our accountants in Abu Dhabi act in respect to the IFRS (International Financial Reporting Standards) regulations when performing audits for companies. Here are a few aspects to consider about audits:
- An audit is performed in complete transparency and objectivity by an experienced auditor in Abu Dhabi.
- All the financial documents of a firm in Abu Dhabi are verified at the time an audit is performed.
- Internal and external audits can be performed in a company in Abu Dhabi.
- An audit report will reveal if there are any issues in the company. The management structure is also evaluated.
These are a few of the procedures of an audit process for companies in Abu Dhabi. For complete details and assistance, you can get in touch with our audit firms in Abu Dhabi and talk to our specialists.
What is an internal audit in Abu Dhabi?
An internal audit for a company in Abu Dhabi is performed by a specialized auditor who will make a series of verifications. All the structures in the company are verified in order to detect the weak points in the firm among other aspects. For instance, if some sectors need improvements or financial potential is seen in certain company areas, an internal audit report will reveal such information. Information about the financial management, risk management, plus proper knowledge of the financial structure in Abi Dhabi are among the tools used by a professional auditor. More than that, an experienced auditor in Abu Dhabi will propose a series of solutions to improve or solve company issues if it is the case. Our qualified auditors in Abu Dhabi are at your disposal with complete services and solutions, if you are interested in internal audits for your business.
Who needs audits in Abu Dhabi?
Small, medium and large enterprises must align with the accounting rules in Abu Dhabi and solicit complete services from a specialist in this field. This is where you should get in touch with our audit firms in Abu Dhabi and hire our services, regardless of the structure of your company. We can offer solutions, guidance, and assistance, plus tailored and professional services for your firm in Abu Dhabi. Let one of our accountants in Abu Dhabi tell you more about the services we can offer for your company.
Short facts about financial statements of companies in Abu Dhabi
All companies need to submit the annual financial statements to authorities in charge of the verification of such documents. Besides that, financial statement audits can be performed by our auditors before the submission, in order to detect in time if there are any issues. An accredited and independent auditor in Abu Dhabi can perform such verifications for your company, but you should solicit information in this matter.
Is a financial risk analysis necessary for my company?
Yes, such a financial analysis is required for companies in Abu Dhabi, regardless of the activities performed. These are important verifications involving the financial department in the company where internal audits are required. Our audit firms in Abu Dhabi can be solicited for such services, regardless of the business structure or company. We have gathered information, facts, and figures about the business and the economy of the UAE that might help foreigners decide on business in this country:
- around USD 154 billion was the total FDI stock for UAE in 2019;
- according to the 2020 Doing Business report issued by the World Bank, UAE ranks 16th out of 190 economies in the world;
- about USD 13,557 million was the total value of greenfield investments in UAE;
- manufacturing, energy, real estate, IT & communication, and tourism are among the preferred business sectors that attract most of the foreign investments.
Details about financial statement audits in Dubai
Statutory audits are the same thing as financial statement audits. This procedure involves a complete examination of the financial documents of a firm in Abu Dhabi, performed by an independent and accredited auditor. The main target is to verify such important documents and see if the information is accurately presented and there are no financial errors involved. The entire process might take some time, depending on the time of the company, whether small, medium, or large. It is important to note that such financial statement audits must respect both the local laws and the International Financial Reporting Standards, also known as IFRS. If there are vulnerable areas in the company, a financial statement audit or a statutory audit will detect such issues. The entire process is performed in complete transparency, yet for extra details in this direction, you can discuss with our accountants in Abu Dhabi. Our audit firms in Abu Dhabi can be hired for complete accounting services for your company, regardless of the size and activities.
Objectivity and independence – Audits in Abu Dhabi
The audit process comes with an established level of independence and objectivity, coordinated with technical skills and experience, in order to detect crucial financial risks in any kind of sector. Our audit firms in Abu Dhabi cover a wide range of industry, respecting a few important steps that are explained below:
|The planning step||The audit field||The review||The report|
|Hiring an audit firm in Abu Dhabi||The balance sheet is verified||The audit process is reviewed||The report is reviewed in terms of quality|
|Planning meetings & pre-audit||Inventory observations are noted||Customers are informed by the issues or risks||Enhancements with the help of internal controls are made|
|Presenting the audit plan to customers||A fundamental testing is made||The statutory accounts are drafted||Key performance indicators are presented|
|A preliminary methodical analysis||A series of confirmations are noted||The financial issues are solved||The audit report is concluded|
|The audit planning process starts||The specialists come with their judgments|
|The risk areas are identified|
We believe in a correct audit report and we want to offer the best possible results to our customers. This is our main target, so if you would like to hire a team of professionals, please feel free to get in touch with our audit firms in Abu Dhabi.
Asking for data analysis in Abu Dhabi
Most businesses that want to develop correctly and fairly are more interested in varied data analyses that can be proposed by our audit firms in Abu Dhabi. Our professionals are aware of the fact that the business climate is very challenging and continues to develop at a fast pace, so attention in this matter is required. Technological innovation plays a great role in the growth of a company, so data analytics will reveal the exact aspects and areas to improve, in connection with prescriptive, descriptive, and diagnostic analytics. These are strongly related to the financial department, so our accountants in Abu Dhabi will know what type of service to provide, in order to optimize specific fields. If you would like to know more about data analysis for companies in Abu Dhabi, please feel free to discuss it with our accountants.
Choosing our auditors in Abu Dhabi
Audit services are important to any kind of company, regardless of the operations developed in Abu Dhabi. Instead of hiring a whole accounting department or the services of an accredited auditor, it is recommended to externalize such services and to understand the benefits involved. A dedicated team of auditors, working closely with specialized accountants can stand by your side right from the beginning of the activities in Abu Dhabi. Audits are extremely important to businesses in Abu Dhabi, and the legislation is strict in this sense. You can rely on complete professionalism and confidence when working with our audit firms in Abu Dhabi and our accredited auditors. Plus, you can benefit from complete accounting services and more if you hire our firm:
- Accounting services.
- Tax advice and compliance.
- Business advice.
- Company administration referring to manager boards, business licenses, business visas, etc.
- Company management and business assistance.
International entrepreneurs interested in forming companies in the UAE, and particularly the capital should also solicit the services of our audit firms in Abu Dhabi. Feel free to discover our accounting services and contact our team.