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External Audit Services
External Audit Services In Abu Dhabi, UAE
External Audit Services In Abu Dhabi, UAE
External Audit is an independent examination of the financial records maintained by the organisation done by an independent auditor and providing an opinion whether the financial statements give a true & fair view of the state of affairs of the entity, of the profit/loss of the entity & of the cash flows of the entity for the year ended. This certification is required by certain investors and lenders, and for all publicly-held businesses.
When an auditor provides an unqualified opinion or clean opinion, it reflects that the auditor provides confidence that the financial statements are represented with accuracy and completeness.
It is inenvitable for every businesses in UAE to hire an external auditor. We are the established firm providing external services to ensure the seamless operations and profitability of your business.
Purpose of External Audit
The primary purpose of conducting external audit service in UAE is to present whether the financial statements provided by the company are ‘true and fair’ or not. We perform the audit without being biased. Therefore, we present the stakeholders with the exact position of the company.
The external audit ensures that the financial statements presented are complete in all material aspects and comply with the financial reporting framework. Auditors make a critical examination of the accounting records and internal controls and apply auditing procedures to satisfy themselves as to the correctness and accuracy thereof.
Reasons Why External Audit is Important?
There are several important advantages of having an audit conducted by an independent firm to determine your company’s financial status and reputational strength.
- An External Audit Improves Internal Systems and Controls
Auditors do not just focus on the financial statement but will gain an understanding of the businesses overall systems and controls environment. This will enable them to identify deficiencies in the accounting systems or controls for which recommendations can be made, making business more efficient and less prone to fraud or error.
- An External Audit Gives Confidence to Shareholders
An independent review of the financial statements can provide transparency to the shareholders that the company is being run within their best interests and can highlight any issues that have occurred which may not have been brought to their attention.
External audits are important for allowing various stakeholders to confidently make decisions surrounding the company being audited.
- An External Audit Provides Credibility
Having your financial statements verified by an external auditor can lead to more credibility in the business marketplace than those that have not.
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