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Audit Firm in Dubai
The UAE business landscape is a highly competitive one and companies require auditors that are familiar with their jurisdictions, political and economic policy issues, corporate rules and regulations, long-term corporate strategies. In addition, they must be experienced enough to detect potential threats and risks that need to be evaluated and eliminated promptly.
Avyanco is an approved auditing firm that leads audit services in Dubai offering a plethora of auditing services in Dubai to local and foreign businesses in Dubai and around UAE. We do thoroughly audit of books of accounts prepared by the management and find material misstatement in financial statement. Our qualified auditors in Dubai produce a precise, thorough, and unbiased audit ensuring that you comply with the UAE regulatory criteria.
Different Types Of Audit Services
Find below the types of Audit Services available that you can opt for your business in Dubai and the UAE.
Internal Audit Services
An internal audit helps identify internal account management issues and offers vital, valuable, and detailed insight that can help boost the financial growth of your company. Internal conduct can be conducted by internal auditors of a firm or by someone outside the company.
Avyanco is the go-to auditing company in Dubai that entails an unbiased and impartial analysis of the company’s financial information. The management will benefit from the right evaluation by having a better grasp of both the company’s current state and its prospects for the future. An internal audit conducted by Avyanco will also benefit the company by revealing any error that is being committed there.
External Audit Services
Auditing involves much more than just numbers and data analysis. The auditing sector is expanding rapidly and on a broader scale due to several regulatory changes and technological developments within the business sphere globally. External auditors in Dubai make a beneficial contribution to society by offering clients extra value and essential insights to boost business success within the region.
An external audit is a corporate audit that is carried out by a third party for a company. This third party has no connection to the business in any manner so the audit can be conducted fairly. An external audit of a company guarantees that the auditor develops the audit report transparently and accurately. A complete view of the client’s present condition and the state of the firm is ensured by the external audit.
Tax Audit Services
During a tax audit, the tax collecting agency, Federal Tax Authority (FTA) looks through a company’s tax filings to see whether the income, deductions, or credits reported in the file represent the real numbers. This is carried out in order to guarantee that each firm pays the amount of taxes it had to pay to the regulatory body within a certain time period.
We will assist you while tax audit conducted by the FTA officials ensure that the government (FTA) will get satisfied with our timely responses to avoid any penalty.
We will help you in providing below details while assistance in tax audit:
- Purchase master sheet
- Sales master sheet
- Input tax credit computation
- VAT liability computation
- Communication with FTA
Company Liquidation Audit Services
Liquidation is the process of liquidating a business, and liquidators are the individuals or businesses who carry out the liquidation process. In Dubai, closing down a business and all of its associated operations is known as “company liquidation.”
When a business experiences a loss and is unable to pay off its outstanding debts, it must liquidate in accordance with the regulations and laws. All organizational assets are dispersed to shareholders and creditors according to their order of claims when a firm is being liquidated.
Before the trading license is invalidated, the authorities want a firm liquidation audit report by the management of the company. The company’s obligations and assets will be listed in a liquidation audit report therefore a liquidator must have access to all the essential data.
Liquidators at Avyanco can provide assistance throughout any stage of the company liquidation process. Avyanco company liquidation auditing service is often chosen by UAE companies since they want to keep the process as transparent as possible. Rest assured, Avyanco will manage all the liquidation work seamlessly.
Stock Audit Services
The most crucial asset for every firm is the stock or inventory on which a business is based on. The primary goal of stock audit services is to guarantee stock statistics through accurate analytical stock and inventory accounting for a company.
Businesses in Dubai often hire stock auditors to monitor, manage, and safeguard goods and products. The purpose of the stock audit is to confirm the veracity, existence, and ownership rights of the objects in the company’s inventory as well as their worth.
Avyanco as the leading auditing firm in Dubai understands that audit requires careful preparation, enough resources, and knowledge. Our stock auditors are experts in their work and will assist you in conducting inventory verification, providing in-depth insights into your goods, and properly reconciling your current stock records. Avyanco covers the following while conducting a stock audit of a firm:
- Stock accounting
- Inventory coding
- Valuation of stock
- Evaluation of stock
- Stock reconciliation
- Inventory categorization
- Reporting the physical status of stock
Risk Management Audit Services
According to reports, 33% of organizations face an increase in fraud each year. Internal problems like asset theft and embezzlement that go undetected might expose your company to additional financial reporting fraud, resulting in further potential revenue loss.
By ensuring that you are prepared in advance to accomplish your strategic goals through effective risk management, risk management audit services in Dubai will reduce further risk factors.
A risk management audit firm in Dubai will recognize the potential and anticipated risks and manage them by eliminating or lessening a risk or threat. Avyanco has been in the industry for so long successfully helping its clients to examine both financial and operational risks associated with their business which might cause further loss. We make sure to first learn your individual business model and then deliver optimal results.
Financial Audit Services
A financial audit examines how impartially the data in a company entity’s financial accounts are presented. A financial audit entails a review of the ledgers and other pertinent financial records of an organization. The primary goal is to give an impartial third-party assurance that financial statement prepared by the management is giving true and fair view.
Financial Auditing in Dubai is performed by approved auditors who are responsible to conduct a fair audit of a firm. Auditors will determine whether the accounts have been kept up to date and have complied with all applicable Framework and guidelines issued by the accounting and auditing bodies.
Financial Statement Audit
A financial statement audit verifies that the financial statement of a company complies with the requirements of the International Generally Accepted Accounting Principles (GAAP), Financial Reporting Standard (IFRS), and International Accounting Standards (IAS). Financial auditors at Avyanco will examine your finances with the utmost care and focus in order to provide a report that is fair and accurate.
Types of Financial Statement Audit
Avyanco specializes in multiple financial statement audit services offering:
- Balance Sheet
- Income Statement
- Cash Flow Statement
- Change in Equity Statement
An accurate, up-to-date, and fair financial statement audit becomes a reality when you hire Avyanco in Dubai.
Value Added Services
Find other extended services that we offer to provide support to your business.
Withholding Tax Advisory
Withholding tax is a form of income tax that an employer or payer is required to deduct from the employee’s wages, salaries, and other payments.
Permanent Establishment Advisory
As a business operating across borders, you know how difficult it is to manage your country’s complex taxes, compliance, and obligations.
Foreign Tax Credit Advisory
Foreign Tax Credit (FTC) allows you to receive a credit for the income taxes paid to a foreign government, cutting the taxes you owe.
Advisory on Double Taxation Avoidance
Taxation is a complex and challenging process, with taxpayers often subject to multiple taxes and obligations in different countries.
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Frequently Asked Questions
We at Avyanco provide specialized bookkeeping and accounting services; we meet all your accounting requirements. Outsourcing is a very cost-effective way of reducing the accountants’ hiring and training expenses in an organization.
No, you do not. But you will have more time to make informed decisions on all the financial aspects once accounting and bookkeeping are completed. As an investor, you can focus on growing your business instead of reacting to business events.
Avyanco provides accounting solutions that are tailor-made to the client’s requirements. The scope of coverage could include the entity’s whole accounting aspect to specific functional areas of accounting. Our services can be performed either onsite or offsite depending on the requirement for service delivery, information security, logistics, and deadline.
Typically, an accounting assistance agreement term is for one year (financial years). It can later be renewed after a review of your new requirements. The contracts are quite flexible, e.g., once or twice every week, monthly, quarterly, half-yearly, or yearly. With Avyanco, you can be assured of a dedicated professional accounting service to help make the most of your business.
The services offered by us can be tailored to include almost everything an in-house accounting department would do or as little as you would want and provide useful financial information that can benefit your company’s growth.
- Precise guidance
- Professional market experience
- Fast track process
- Valued connections
Books of Accounts should be maintained for a period of 5 Years from the end of the financial year.