The key to sustain confidence between your company and stakeholders is undoubtedly a reliable audit. The evolving regulatory requirements coupled with increasing stakeholder demands in terms of transparency and accountability is pressing businesses across the globe to reinstate the importance of audit and auditors in the financial reporting chain. However, the concept of audit has gone far beyond as a mere compliance constituent to a prerequisite for a strong and sound financial management. While business owners might advance and continue to venture under the impression that the company is profitably running, the actual scenario might be otherwise. An audit report aims to highlight whether the financial statements prepared by an organisations present a true and fair view of its state of affairs and if they have been prepared in accordance with the appropriate reporting framework.
At Elevate, we strongly commit in thorough yet time bound audits along with a strong understanding of our customer requirements. Our well experienced team with profound understanding of relevant reporting frameworks and auditing standards ensures that our assurance report are exceptionally valuable and reliable.
External audits are primarily conducted for statutory purposes in compliance with the laws of the land along with an in depth analysis of the financial information presented. The prevailing regulations in the UAE require the financial statements of entities to be audited on an annual basis. External Auditors are independent to the entity being audited.
Benefits of doing External Audit
- Ensuring legal and regulatory compliance.
- Detecting & preventing frauds & malpractices.
- Improves financial credibility.
- Enhances overall credibility of the company in all public fronts.
- Provides an unbiased opinion on the performance of the company.
Our Audit Procedure
Initial Planning & Documentation
This stage involves understanding the business and its environment by collecting all relevant documents including legal, financial and such others as deemed necessary. Based on this an audit plan is made giving the course of procedure and tentative submission of draft report.
Upon approval of the audit plan, field work or in-house work as deemed appropriate is carried out. Walk Through, enquiry, sampling & scrutinies are performed in this stage. Clients will be kept informed about the status of the audit.
Preparation of the draft audit report
Upon completion of successful audit procedures, draft report is prepared and submitted to management along with observations & findings for their review and approval.
Issue of final reports
Once the issues and findings are discussed and appropriate changes are made to the financials, the draft report again goes for approval by both parties subsequent to which final reports are issued.
Why ELEVATE FIRST ACCOUNTING & AUDITING
Expert team of auditors: Team Elevate Auditing delivers independent, objective and high-quality auditing services in UAE. We have the best of the professionals in the industry whose vast knowledge and exposure in this field gives our clients a valuable insight into their state of affairs.
Time bound Audits: As much as we give importance to deliver the finest and utmost comprehensive audits, we also equally value your time. We always make sure, our service is delivered well on time as per the initial agreement.
Compliance with the industry best practices and standards: Our audit procedures align with the best practices accepted in the industry and we adhere to the international standards of accounting and auditing. Our team ensures that requirements as per International Financial Reporting Standards(IFRSs), International Standards on Auditing(ISAs), and relevant legal frameworks are properly complied with.
Affordable Professional Charges: We always make sure the audits we deliver surpass the price we charge. Providing top notch services at the most affordable prices has always been our priority. With us you will always be content with our price and service.
We are approved auditors both in the mainland and in the following Free Zones:
- Dubai Multi Commodities Centre (DMCC).
- Dubai World Central (Dubai South)(DWC).
- Jabel Ali Free Zone Authority(JAFZA).
- Ras Al Khaimah Economic Zone (RAKEZ).
- Hamriya Free Zone.
- Sharjah Airport International Free Zone.