21
Aug 2019
Every business gets established with the motive of earning a profit. In the process of doing so, the firm undergoes numerous transactions every day, which need to be monitored. Be it a start-up, or an established business, one of the essential processes that needs to be conducted is an audit. In business language, the term audit refers to inspection, that involves a pre-defined process to understand the insights as well as the loopholes of the business. Conducting the audit services, paves out new ways for the business, and helps the stakeholders to understand the different aspects of generating more revenue. While doing so, the process turns out to be more fruitful if professional experts are involved. If you are planning to conduct an audit in your company, then this article is for you.
Who is an Audit Expert?
An individual or a professional firm who possess an in-depth knowledge based on various accounting and auditing standards, and dealing in core activities like accounting, tax, VATetc., holds a certification from the accounting bodies of the country and is specialized in conducting company inspection to validate the business proceedings is known as an auditor.
These specialized audit firms play a crucial role while conducting the audit process in a company. Dubai, being a business hub has a high demand when it comes to audit professionals. The Government of Dubai has initiated numerous steps to increase the business incorporation, but at the same time demands the entities to carry out validate audit proceedings.
How do Audit Experts Work?
When it comes to the work process, a professional auditor takes the essential steps that would benefit the client’s business to a great extent. It is to be noted that a professional auditor holds certain essential features that makes him responsible to leverage the clients business growth.
1.Intense Planning
Subject matter experts deal with numerous clients dealing in different industries, possessing specific knowledge on each of the ground. By joining hands with experts, you will get an exposure to the core planning that gets conducted considering different aspects of the business.
2.Error-Free Documentation
Audit documents prepared in-house and the one drafted by experts involves vast difference. The documents get drafted after an in-depth analysis, and subject-matter experts take utmost care while documenting the reports and makes sure that it is valid and error-free.
3.Validation of Audit Process & Implementation
The planning process is validated considering the pros and cons and finally gets implemented that involves step-by-step series. This ultimately helps in streamlining the business process, as well as figures out the illegal proceedings, if any. Audit process scrutinizes every detail that prevents the internal employees from doing any fraudulent activities.
4.Issues Audit Certificate
The certificate issued by an experienced auditor after an external audit holds a higher value, which ultimately helps your company to earn better goodwill in the eyes of the stakeholders and Government. This also helps in strengthening the trust of the existing investors and paves out a way for new investors at the same time.
5.Drafting Professional Report
The report that gets drafted at the end of the audit process involves detailed information regarding every inspection that was taken into consideration during the audit process. This report also states the issues fixed and also helps you to understand better ways of business expansion.
6.Issues are Tracked & Fixed
A professional auditor makes sure that once the process gets completed, continuous follow-ups are made at regular time intervals. This helps your business as it gets scrutinized after a certain interval, which results in less error. Apart from that, an audit expert would act as a guide and can help you to make better decisions regarding investments to be made in-house as well as further business expansion.
In short, we can say that availing services from audit experts turn out to be way beneficial as compared to an audit process conducted in-house. Moreover, it helps in expanding the horizon of your business to the next level and grow your profits. Are you are searching for an audit expert? Well, your answer is just below.
JAXA| Your Audit Guide
Since its inception, JAXA has been dealing with multiple clients in the UAE, helping them to conduct audit services. Being certified as ISO 9001-2015, JAXA stands as one of the top ten audit consultants in Dubai. The team consists of audit experts who takes care of the essential audit requirements and is determined to provide the best and customized solutions according to the business needs. To have a word, do contact us-we’d be glad to assist.