Choosing an audit firm is one of the most crucial decisions for the management of the company. The United Arab Emirates has gradually transformed into a place of great importance for setting up a company and is also considered as the business hub of the East. Setting up a business is a comparatively straightforward procedure, but to sustain the company necessitates a lot of vigor on the part of the business.
One of the best ways to ensure the sustenance and success of your company is to avail of the services of an audit firm. These audit firms will perform an analysis of all the financial data of the company and will provide the management with detailed reports. These reports will help the management in understanding the current financial status of the company. Availing the Audit Services will help the management of the company to prevent wastage of the resources and also will allow the company to plan for its future.
What to look for in an Audit firm?
When looking for an Audit firm in the United Arab Emirates, you must look for specific characteristics. These characteristics are given below:
·The Qualifications of the Entity
An audit firm may comprise of a single individual or a group of people. The management must find out all the qualifications which the audit firm possesses. Possessing the necessary qualifications is very important in choosing an audit firm. The certification of the audit firm will provide proof that they have the required understanding of the managerial systems.
Each of the audit firms has its specialty, and the company must choose an audit firm according to the services offered. The audit firm should understand the client's business and provide solutions accordingly. These services will depend on the nature of the business conducted and the industry of the company.
·Reputation and Reviews
The audit firm chosen must have a good reputation in the market. It is an added bonus if a peer has already used the audit firm in question. In such a case, the peer will be able to provide dependable reviews. The reviews of an audit firm play a crucial role in its selection. One of the best forms of reference is word of mouth, as through this, the clients who have availed the services of the audit firm.
The higher the experience of the audit firm in the market, the better. If the audit firm has experience in different sectors, it will have a deeper understanding of the business and can very quickly chart the future trends of the industry.
·Easy to Contact
It is very important to avail of the services of an audit firm that can be contacted anytime. If the audit firm can be reached swiftly, the company of the client can make use of the opportunity, which presents it for a short duration. the quick and easy connection also helps in developing a personal relationship with the audit firm
The fees charged by the audit firm is a very crucial factor in deciding that the service of which auditor should be availed. Some of the auditors have a set of services that they offer, whereas some of the auditors provide the option of choosing the services required by the company and will charge only for those services. If the fee charged is out of the budget of the company, then no matter the quality of the services, the company won't avail of the services.
If a client takes care of the points mentioned above, they will be able to avail the services of an audit firm which will understand the requirements of the client. If you are looking to set up a business in the United Arab Emirates, then it is suggested that you avail of the services of JAXA Chartered Accountants. JAXA will understand your business and will provide you with relevant advice for your company.
JAXA also provides a range of other services apart from audit services such as Accounting and Bookkeeping services, services related to Value Added Tax, Management Consultancy Services, and many others. To receive more details on the services offered by JAXA Chartered Accountants, Contact Us. We will be happy to help.