How do audit firms support your business in Dubai? Why should you choose the best auditing firm in Dubai? Find answers to all your questions on external audit
SMEs account for nearly 95% of the companies in Dubai and it contributes to 42% of the GDP of Emirates. So, SMEs are the back bone of Dubai business landscape. Despite the status, many small businesses still struggle for finance and growth. Conducting an annual financial audit allows you to understand the businesses financial status and find ideas to improve it. Here comes the importance of auditors and auditing in Dubai.
While doing an external audit, the firm examines financial statements of a business to determine whether the statements are accurate and in compliance with the international financial reporting standards. External auditor ensures that the documents are true and fair in terms of finance.
To avoid complication, you can approach one of the best audit firms in Dubai. The auditors are specialized in external audit process that helps organizations to prepare their accurate annual financial statement.
What are the reasons to conduct external auditing Dubai?
When you appoint an external auditor to review your financial statements, they stay in complaint with the international accounting standards. External auditor identifies the book of accounts that don’t comply with the governing regulations. While appointing an external auditor, you get unbiased feedback and it helps to modify your financial statements. Internal auditor may find it difficult to share unbiased feedback. Therefore, hiring an external auditor is beneficial for your business in Dubai or UAE.
Externalauditors examine the bookkeeping records and financial reports to inform themanagement if they find any suspicious transaction or business activity.External auditor provides necessary feedback and advice, if any activitiesconducted by the organization can put the business under risk of fraud. Theauditors go through extensive research and determine the financial crimes orrisk in your business. Moreover, they provide advice on improving the riskmanagement system in your company or business.
Hiring an external audit firm will improve the credibility of your business. Successful external audits inform public, government authorities, and finance companies that your business is a trustworthy organization. The approved external audit reports are more reliable compared to the reports of an internal auditor.
Businesses may consider internal auditor is sufficient for checking the financial records of the company. But, it’s advised to appoint an external auditor where they can limit the errors made during the preparation of accounts. Moreover, internal auditors are familiar with the organization for a very long period. Therefore, the results follow biased approach and never points to errors made in bookkeeping or accounting records. External auditors also check for the reports of internal auditors and provide necessary suggestions on improving the financial examination in your company.
External auditors provide suggestions and advice after thorough research of the financial reports. They come up with new ideas to improve the financial health of the company. They suggest expenditure requirements and implement various strategies to increase the business efficiency. By hiring an external audit firm in Dubai, you get access to qualified professionals who uplift your financial health and status of the organization.
Work with NHBC – external auditing firm in Dubai
If you’re searching for the best audit firm in Dubai, approach NHBC for its professional and reliable accounting services. With years of experience and dedication, wehave supported our clients with external auditing services. We continue to provide the same with more enthusiasm. SMEs or Start-up, we provide external audit services to improve their financial health and prevent fraud transactions.
Get your books of accounts audited from qualified experts at NHBC! We add value to your business with best audit services in Dubai, UAE.