An audit is all concerning examining and evaluating a company’s monetary statements. Since these records are expected to point out the transactions that are done by the firm, an audit is executed to make sure the accuracy and fairness of those records.
An audit may be performed internally or externally. The previous may be achieved by the organization through facilitating it themselves with their own auditor or normally called ‘internal auditor’. The latter may be accomplished with the help of an auditor from a 3rd party that’s employed by the organization itself.
As one of the auditing firms in Dubai, we know that there are a couple differences between the two that can help you understand fully the two kinds of the audit. Auditors in Dubai prepare an annual financial statement in 3months prior to the end of the financial year.
Types of audit
The first kind of audit is an internal audit. This can be the process whereby the activities and operations of the corporate are assessed and analyzed. All of those even the structure of the business and its staff are monitored and examined.
Internal audit is finished by an internal auditor who is from the organization itself with audit and assurance services, whichever is desirable to the organization that wants internal auditing. Internal auditors have broad information with reference to the business systems. They have to be so because they make sure that the approaches that they recommend can help the corporate to be efficient with its operations and flow of business.
- Statutory Audit
The scope of the statutory audit is well on the far side the regular auditing method wherever our expert auditors work at the side of you and searching for methods to enhance the work efficiency and productivity. Through our intimate with staff and associate partners, we bring value-addition to the statutory audit requirement.