Article Full Details
Title : audit service in dubai
Category : Business
Description
Audit & Assurance Our experts with varied industry experience and backgrounds give customized independent professional opinions to the decision makers and stake holders to reduce the information risk and make more confident decisions. An assurance service also revealsthe performance and health of the company. Statutory Audit Statutory audit is a legally required review of the accuracy of a company's financial recordsby following auditing standards generally accepted in the country and obtain an understanding of the entity’s internal control by obtaining audit evidence through examination and inspection of books and stock, inquiry, observation, confirmations, analytical and other procedures. Our auditors with industry experience examine and determine whether an organization is providing a fair and accurate representation of its financial position. UAE Federal Law No 2 of 2015 (Article 102 of the Commercial Companies Law 2015) stipulates that that a Limited Liability Company shall have one or more auditors to be elected by the General Assembly of the partners every year and, other than as provided by Article (244) of this Law, the provisions concerning the auditors in public joint stock companies shall apply to the auditor of a Limited Liability Company. Article 246 Duties of the Joint Stock Company Auditors stipulates that the auditor shall audit the accounts of the company, inspect the balance sheet and the profit and loss account, review the transactions of the company with the related parties and ensure the application of the provisions of this Law and the Articles of Association of the company. The auditor shall provide a report on the result of such inspection to the General Assembly and dispatch a copy of the report to the Authority. Upon preparing his report, the auditor shall confirm the following: A. The extent of validity of the accounting records kept by the company. B. The extent of agreement between the records of the company and the accounting records. 3. The auditor shall review all the records, papers and other documents of the company. The auditor mayrequire such explanations as the auditor may deem necessary to perform his duties. The auditor may alsoverify the assets, rights and obligations of the company. 4. If no facilities are provided to the auditor to perform his duties, the auditor shall state this in his report to the Board of Directors. If the Board of Directors fails to facilitate the task of the auditor, the auditor shall send a copy of the report to the Authority. 5. The subsidiary and its auditor shall provide such information and explanations as demanded by the auditor of the holding company for the purposes of audit. Internal Audit We at Hussain Al Shemsi Chartered Accountants help our clients to have an independent internal auditing with an objective to add value and improve their operations through our experienced professionals. Our clients will also benefit from the improvement in the effectiveness of risk management, governance processes through internal audit. We also ensure strong internal control systems to minimize the risk of errors, omissions and fraud by having adequate division of authority over major control areas and compliance with internal operating policies and guidelines. We recommend our clients to have interim or full time internal audit to assess the internal control effectiveness and ensure compliance with laws and operational procedures. Risk based approach to internal audit help clients to improve performance and efficiency. Concurrent Audit Our clients reaps the benefit of Concurrent auditlike accuracy, authenticity, effective control, compliance with procedures and guidelinesby having systematic and timely examination of financial transaction withsubstantial checking on a regular basis and or at the time of happening. Revenue Audit InRevenue auditwe examine the information and figures shown by a client in their revenue or tax returns against those shown in their books of accounts and certify accordingly. Stock Audit Apart from Internal Audit or StatutoryAudit, we carry out Stock Audit on behalf of banks and other financial institutions to ensure that the collateral against which funds are lent by the bank to the clients is valued correctly. We follow various stock (inventory) audit procedures subject to size and complexity like physical count, adequacy of sample size, confirmation from other locations, due consideration to high value items, inventory count to the general ledger, inventory check in transit, review of cost (material cost, labour cost, carriage in-ward costs, overhead cost), compare with market rate, valuation of finished goods,application of inventory valuation systems (FIFO, LIFO) etc. http://halsca.com/
Comments
No Comments Found
Book Promotion Website
 
Classifieds
My Life as a Banker:A Life worth Living
Category : Books
Inside Creative Designers & Writers
Help Desk
Find us around the web
Email Support
info@creativedesignerswriters.com
© 2015 Creative Designers & Writers