Fraud Investigation Audit Services in Dubai, UAE
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Investigative Audit
Investigative audits also known as Forensic Audit aims to establish relevant facts to prove or disprove an alleged fraud or corruption. The process involves gathering evidences, analyzing information obtained, validating the same and finally form grounds to the conclusions made. It involves thorough scrutiny of the financial and other relevant records of the organization and interactions with the management and employees to understand the situation.
Fraud is defined as Intentional Misrepresentation of facts.
It can be done by anyone including employees, vendors, customers or such other persons who wants to pull down the organization.
Whenever a company suspects any malicious activities in the organization, it is an absolute necessity to do a thorough investigation into the state of affairs, books of accounts, financial statements and business procedures. This is when the role of investigative auditors comes into picture that can stand independent to the organization and do a detailed evaluation with no personal perspective. Our services include investigating the embezzlement of cash or funds and such various other assets of the company.
Inventory/Stock Audits
Stock audit in simple term means physical verification of the inventory and reconciling the same with the accounting records. It is also to ensure the ownership rights and to verify the realizable value of the company’s inventory.
Why Stock Audits?
Stock Audits are important to avoid unnecessary investment in inventory. High levels of stock can result in poor values of cash flows and lead to financial losses. Performing stock audits also enable organizations to understand the trend in the movement of stock, helps to identify slow-moving and obsolete stocks, whether to drop down any line of products or actions required to boost the movement of the same, utilize the space available efficiently, identify any fraud and also gives an insight of the real value of inventory in hand.
Revenue /Sales Report
This reporting aims at providing information about the sales operations of a business over specific period of time. The report analyses and gives a snapshot of the trend in the sales over a particular period. Comparing such values with respect to the same period in a previous year helps management to strategize the operations. These reports are either used for internal purposes for management information or for external requirements like registration with any relevant authority or renewal of contracts.
Due Diligence Services
Due diligence is the investigation or exercise of care that a reasonable business or person is normally expected to take before entering into an agreement or contract with another party or an act with a certain standard of care. A common example of due diligence in various industries is the process through which a potential acquirer evaluates a target company or its assets before acquisition.
It is a systematic way to analyze and mitigate risk in relation to a major business decision. Due Diligence has a become a legal requirement in several countries before entering into any new contracts with various legislations implemented to oversee the same. Proper use of due diligence systems is used as a defense against any breach of law.
Major Types of Due Diligence
Financial statement audits in UAEÂ provide several key benefits for companies, investors, and stakeholders:
- Financial
- Commercial
- Operational
- Human resources
- Asset
- Customer
Why choose Elevate?
You Are At The Right Place
- Our team with multi-disciplinary expertise can take audit to a next level to meet the evolving market and client requirements. We maintain uncompromising commitment to deliver quality and time bound audits.
- Over the period, we have a strong network of clients and affiliated firms who are consistently with us and thus expanding our profiles from Elevate First Accounting & Audit to Elevate Business Solutions DMCC and Elevate Prime Auditing Solutions.
Contact Us for Fraud Investigation Audit Services in Dubai, UAE
If you suspect fraudulent activities within your business, contact Elevate Accounting & Auditing today. Our team is here to help you protect your business, uncover fraud, and take the right steps to minimize the impact on your operations and reputation.
Get in touch to schedule a consultation or learn more about our fraud investigation audit services.