Auditing is providing comfort over the accuracy of management accounts or unrolling systematic errors occurring throughout the year. At the end of the year, an audit is critical to decision making for an organization placing reliability on management information (Read the need of internal audit). The whole process through which an audit is undertaken challenges. The […]
An audit report is a report that contains the opinion of the auditor, which is issued by the independent auditors after their examination on the entity’s financial statements and related reports. Those including financial statements, management accounts, management reports, and other reports like a compliant report. The format of an audit report is fixed as […]
Fraud and risk management are of significant importance for companies in today’s global marketplace. Many companies (UAE-based and international) are losing a part of their annual revenues every year due to these risks and frauds being committed. First, let us understand what fraud is. What is Fraud? So, what is considered fraud? Fraud is a […]
What is Audit? The term audit refers to the examination of records, returns, and other such documents of a registered entity to verify that the turnover declared, refunds claimed, taxes paid, and input tax recovered are correct or not. What is FTA Audit File? With the same objective, the Federal Tax Authority (FTA) introduced the […]
Starting and maintaining an IT Company is hard work but neglecting accounting while concentrating on business development, marketing, and other such departments can be fatal. You can also say a robust infrastructure based on marketing, operations, and accounting is a vital part of starting up an IT firm, regardless of its size and demographics. Many […]
Auditing focuses on evaluating the effectiveness of a company’s internal controls. Maintaining an effective system of internal controls is crucial for gaining an objective of the company’s business, acquiring reliable financial reporting on its operations, preventing fraud and misappropriation of its assets and lessening its capital cost. Both independent and internal auditors contribute to a […]
Accounting and bookkeeping cannot be ignored because it is essential for managing finance and money of the business. You should always keep your business accounts straight and clear irrespective of your business type. Dubai is known as the hub of companies for investors and the ones who want to expand their businesses as it gives […]
Businesses these days, not only look for cost-effective results to methodically run non-core activities like accounting and payroll services but also expect to add value to achieve better control ad understanding of cash flow and thereby make informed decisions. Accounting is the backbone of any business organisation. These days businesses not only look for cost-effective […]
In the world of accounting, accuracy is vital. Incorrect or indecorously reported numbers can lead to all kinds of problems, from misguided strategic planning to cash flow issues, which could leave you unable to pay your employees. And accuracy can be achieved through an audit. A proper examination of everything from specific transaction testing to […]
Internal Audit is the process of evaluating a company’s internal controls, including its accounting processes and corporate governance. The internal audit report ensures that the company complies with state regulations and laws and maintains timely financial reporting. Operational efficiency is possible with Internal Audit as problems are identified and corrected before External Audit discovers them. […]
