Auditing( Internal & Statutory) & Assurances
Internal Audit Services in Dubai
Internal auditing is a profession designed to improve an organization’s operations. Performed by certified internal auditors with in-depth knowledge of the business milieu, systems, and process, it helps an organization to meet its predetermined objectives and goals in a systematic approach to study and improve the effectiveness of risk management, control and governance process. Internal auditing ensures that the organization is working fairly enough to mitigate risks, and that business goals and objectives are met. To do this, internal auditors work with an organization to systematically review its systems and business operations. These reviews are focused on recognizing how well risks are managed and whether agreed procedures are being followed.
- Evaluates Risks and Protects Assets
- Increases the Operational Efficiency
- Effective Control
- Ensures Compliance with Corporate Laws and Regulations
What Are the Advantages of Internal Auditing?
Internal auditing is beneficial for a company in the following ways:
- Internal auditing helps a business assess its effectiveness and efficiency, and thus serves as a measure of performance analysis.
- It can prove as a proactive tool for risk management by proactively detecting any anomalies or inconsistencies in a company’s operations or reporting.
- Internal auditing helps a business revisit its key business processes, providing the opportunity to scale and improve persistently
Statutory Audit Services in Dubai
A statutory audit is a legal procedure to be done to review the accuracy of an organization’s financial statement and records. It is mandatory to conduct a statutory audit for government organizations to monitor and evaluate their performance. The statutory audit examines information such as bookkeeping records, bank balances, and financial transactions.
Advantages of StatutoryAudit Services
The advantages of conducting a statutory audit for one’s company are:
- It improves the reputation of the company
- The statutory audit report enhances the credibility and reliability of the firm
- It helps the prospective clients in evaluating the company before doing any business