Auditing is the mainstay of our practice. We offer a broad range of financial reporting services to meet the diverse needs of various types of businesses. Our breadth of experience gives us the perspective to perform auditing services skillfully and efficiently.
We approach the audit as a service for the benefit of our clients. We demand audit excellence and set tough policies to achieve it so we hire talented people and invest heavily in training and tools, including systems for achieving consistency, objectivity, and accountability in strict compliance with professional standards.
We conduct the audits adhering to the latest International Auditing and Accounting Standards and International Financial Reporting Standard. Those standards require that we plan and perform the audit to obtain reasonable assurance as to whether the financial statements are free from material misstatements.
Our Auditing Services include:
1. Statutory and External Audit
We keep our staff abreast of changing legislation and regulations, and adapt well planned and documented procedures involved in our audit program which identifies risk areas; suggests internal controls as well as improve requirements in information generation.
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 firms you’re appointing which is why you want to stick with the best auditing firms in UAE.
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 are 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 for 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.
2. Internal Audit
This type of service is an essential tool of the management used to continuously monitor and control the working of the organization. An Internal audit by an external professional firm like ours assures to achieve the optimum results as we have the knowledge and professional competence as well as the independence to evaluate and report impartial findings.
We are willing to provide all sorts of internal auditing services. We are aware of the burden an internal audit brings on the management and would be glad to assist your company in achieving your benchmarks and goals.
The reports, tactics/strategies, and services provided by our qualified accountants will be tailored as per the requirements that suit your business best. The information furnished would vary depending on your requests and demand for details. Our internal auditing service can help you in the following ways:
- Full outsourcing of internal audit function
- Co-sourcing with your existing internal audit function
- Quality assurance review
- Risk assessment
- Documentation and testing of internal controls
- Operational audit
- Transformation in internal audit
- Audit of IT system
- Valuable analysis for improving your business
- Well-planned and systemized internal audit
- Process mapping and reviewing
3. Review of Financial Statements
It is a type of service under which our firm analyzes a Company’s financial statements for decision-making purposes and to understand the overall health of an organization. We obtain limited assurance that there are no material modifications that need to be made to an entity’s financial statements for them to be in conformity with the applicable financial reporting framework (such as GAAP or IFRS).
We will do a comprehensive examination of your financial statements and accompanying disclosures. We will attest to the truthfulness and fairness before issuance of your financial statements.
Our internal pool of IFRS experts have tremendous knowledge and excellent tactical skills in the field. Many of our professionals have unbelievable experience solving complex IFRS issues across many types of structures.
At Accuvat we believe that trust is what cements a business relationship. We are meant to keep this relationship through the latest technology that allows full transparency among other important assets. Accuvat creates tailor-made solutions depending on our clients’ specific IFRS requirements and defined priorities.
5. Operational Audits
Operational audit is defined as a systematic process of evaluating the effectiveness, efficiency, and economy of operations of an organization. Accuvat has carried out major operational audits at leading business houses in the UAE and have helped them in streamlining operations and also achieve economies.
6. Risk Management and Advisory
Risk advisory services help in evaluating the culture, systems, and processes of a business to identify and sort out the problems. This can help make decisions, support business objectives and prevent loss, damage or harm to the business.
Business improvements require risk management integrated across your organization’s management, processes, and technology. Our well efficient team leads risk management projects across all aspects of an enterprise, from risk assessment to any extend.
7. Investigation Audit
When entity suspects having unusual activities such as frauds, embezzlement, pilferages, money laundering, terror money, or fraudulent activities going on, it calls for a thorough investigation of its accounts, financial statements, and all the business processes. This investigation process is termed as an investigative audit. Rigorous audit procedures are performed to follow the movement of money and assets to obtain evidence. Once the suspect is identified and sufficient audit evidence is obtained, the case shall be presented in the court.