Role of Auditors in UAE
Auditors in Dubai, UAE has got plenty of opportunities to serve their clients. The need for an outside auditor for a business entity in Dubai is very essential, even though the annual audit is not compulsory in Dubai mainland. Many of the companies in Dubai are opting for an external auditor in order to make sure that the books of accounts are properly maintained. In the case of free zones all the companies have to do annual audit by a certified auditor for renewing their trade license. Once an auditor is appointed for a company to review on regular basis, they verify the books of accounts of the company by visiting them on a regular basis and at the end of the year they prepare a detailed report to the management about the financial performance of the business.
Job description for Auditors
- Ensure compliance with established internal control procedures by examining records, reports, operating practices, and documentation
- Verify assets and liabilities by comparing items to documentation.
- Communicate audit findings by preparing a final audit report and discussing the findings with the company authorities.
- Comply with federal, state, and local security legal requirements by studying existing and new security legislation; enforcing adherence to requirements; advising management on needed actions.
- Review data about material assets, net worth, liabilities, capital stock, surplus, income and expenditures.
Auditors in Dubai, UAE are normally enough qualified people having plenty of working experience in different business scenarios and academic qualification.
Responsibilities of an independent Auditor
- The responsibility of an external auditor is to express an opinion on the financial statements of the company based on their audit.
- Inspect the books of account and accounting systems for efficiency, effectiveness and use of accepted accounting procedures to record transactions.
Most of the Auditors in Dubai, UAE possess professional qualification like CA or other equivalent qualification. The value of an auditor is determined based on the quality of the report they are giving, in addition to that they give advice to the clients on different business scenarios. The independent audit report is more helpful to build a high degree of confidence in the financial strength of the company for its lenders and investors. Emirates Chartered Accountants Group are well known financial consulting firm in UAE and we provide audit services to our clients under United Auditing. For more information email us to email@example.com