What is Statutory Audit?
External audit or Statutory audit in Dubai is performed by independent auditors to form an opinion on the annual financial statements prepared by your management. The opinion is based on whether the financial statements are prepared truthfully and honestly and present a true and fair view of the business. The auditor’s opinion presented on the audit report is available to all government authorities, banks, shareholders and public (if publicly-held company).
It is the responsibility of the auditor to provide reasonable assurance to the readers of the financial statement that the reports have been prepared as per the applicable financial reporting framework or the IFRS. A reasonable assurance is a high level of assurance but not an absolute level of assurance due to inherent limitations of an audit.
We will be performing your organization’s audit as per the International Standards on Auditing and within the ethical guidelines issued by IFAC All the UAE laws and regulation will be strictly followed and taken care of during the audit procedures by our certified and qualified auditors and accountants in Dubai.
Why should you hire A and A Associate?
Your worth as a company will be exhibited through the audited financial statements based on which, people will want to do business with you or would be willing to provide loans to you. It is also closely related to the value of auditing firm you’re appointing which is why you want to stick with the best auditing firms in UAE.
A and A Associate, as your external auditor, will make sure that:
- Your financial statement and accounting records are accurate, complete and free of material misstatements
- Your financial statements are prepared as per the applicable financial reporting framework
- The financial statements portray a true and fair view of the business and its profitability
We achieve our objectives by evaluating the audit risks, performing comprehensive audit procedures, collecting documents, obtaining sufficient audit evidence, and forming our opinion based on our compendious analysis. Throughout the audit, professional skepticism and due diligence is observed by our dedicated team.
We will ensure that your internal controls, IT System, Purchase process, Sale process and others are adequate and free of any fraud or errors. A Sample will be extracted from various departments and class of accounts based on a statistical analysis performed by our auditing software. On the premise of this sample, audit procedures will be performed to ensure all the transactions and entries are complete as well as accurate and free of errors.
Our audit will also perform stock count and verification of assets booked on the financial statement for assurance. In case of judgment involved, an expert will be hired to verify the value of assets and stock and whether there has been any impairment or damage to goods.
In short, you can trust us with your annual audit services in Dubai since our competent team will do a thorough evaluation of all the departments and areas involved in your business to provide you reasonable assurance that your financial statements are free of material misstatements.