Audit

Approved Audit Firms in Dubai

By Alya | Auditing | No Comments

Last updated on August 25th, 2019 at 07:31 am

Audit is the examination or inspection of various books of accounts by an auditor followed by physical checking of inventory to make sure that all departments are following documented system of recording transactions. It is done to ascertain the accuracy of financial statements provided by the organisation. 

Audit can be done internally by employees or heads of a particular department and externally by an outside firm or an independent auditor. The idea is to check and verify the accounts by an independent authority to ensure that all books of accounts are done in a fair manner and there is no misrepresentation or fraud   that is being conducted. 

All the public listed firms have to get their accounts audited by an independent auditor before they declare their results for any quarter. 

Who can perform an audit? In India, chartered accountants from ICAI or The Institute of Chartered Accountants of India can do independent audits of any organisation. CPA or Certified Public Accountant conducts audits in USA. 

There are four main steps in the auditing process. The first one is to define the auditor’s role and the terms of engagement which is usually in the form of a letter which is duly signed by the client. 

The second step is to plan the audit which would include details of deadlines and the departments the auditor would cover. Is it a single department or whole organisation which the auditor would be covering. The audit could last a day or even a week depending upon the nature of the audit. 

The next important step is compiling the information from the audit. When an auditor audits the accounts or inspects key financial statements of a company, the findings are usually put out in a report or compiled in a systematic manner. 

The last and most important element of an audit is reporting the result. The results are documented in the auditor’s report.

Professional Audit Firms in Dubai

Alya Almarzooqi Auditing is a dynamic & innovative medium sized firm (leading chartered accountants firm) lead by a team of professionals providing professional services in Auditing, Accounting , VAT consultation in Dubai listed in all major free zone including DMCC , JAFZA, SAIF, DWC, Maydan etc.with the head office at Business Bay and a branch at SAIF. A network of national offices provides clients with value-added services focused on business improvement and growth within specialist sectors.

Alya Almarzooqi’s diversity of professional skills, resources and experience can be leveraged across a wide range of client engagement situations.


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