Al Kaffa’a helps any organization to achieve its strategic business objective with External / Internal audits.
We deliver sharp insights and add high value to our clients. With our skills and experience, we give our clients the insight and confidence that they need to execute
A business requires different types of audits. They are as follows:
An internal Audit is an activity that can be performed by outside people or an employee of the company. It comprises an independent and objective examination of all the business’s financial data.
This is a critical function to be conducted as it acts as a tool to keep the company on the path of growth and development. An internal audit also adds value to a business by uncovering any fraudulent activity taking place in the business.
An audit of the company, which an external party conducts, is known as an External audit. This third party is not associated with the company in any way and ensures that the auditor prepares the audit report without bias or pressure.
The External Audit ensures that all the client’s data provides a clear picture of the business’s current situation. An external audit is usually conducted once a year so that the company can get the correct and accurate records of the company.
Often, there are situations in which the government/authorities require an audit of the company to ensure that the business records are accurate. This kind of audit is known as the Statutory Audit.
Here the Company has to submit the audit report to the government/concerned authorities and helps the government/authority understand that the business has no fraudulent activity
There is a misconception among people that small businesses do not require audits. No matter the business size, Audits should be conducted for all businesses regularly, as the benefits outweigh the disadvantages. It should be remembered that only registered or approved auditors can audit a company in a free zone.
We at AL Kaffa’a Auditors provide Auditing and Assurance Services in Dubai, UAE. For more information, get in touch with us
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