Audit & Assurance

AUDITING FIRMS AND ASSURANCE SERVICES IN QATAR

In simple terms, audit and assurance is the assessment of a company’s accounts to establish credibility with the financial information for the benefit of the owners and shareholders of the company for them to make better decisions.

According to Federal Law  Commercial Companies Law, every company is required to assign a licensed auditor that is registered under the Ministry of Economy for the auditing of their financial affairs.

Aside from this, there are further more reasons why financial audit is important for your business.

Enquire for Audit & Assurance

SOME OF THE TYPES OF AUDIT WE OFFER

Internal Audit (Operational Audit)

There are various types of audit performed in the organizations of Dubai. Internal audit or as known as operational audit gives the organization an assurance with regard to the effectiveness when it comes to internal controls, risk management, and governance in achieving the company’s objectives.

External Audit (Financial Audit)

External audit or as known as financial audit deals with the analyzation of a company’s financial affairs. This is the most common type of audit. External audit is about investigating the financial statements of an organization by an external auditor to establish truth and fairness.

Statutory Audit

Statutory audit is a legally required assessment of a company’s or a government’s financial data, establishing its accuracy. Statutory audit serves the same purpose as any other audit in that it analyses financial information such as financial transactions and records.

Gamil Mohamed & Co: Leading Auditors in Qatar and Egypt

As one of the leading chartered accountant firms in Qatar and Egypt and being a certified internal auditor, we have more than 10 years of experience in various fields including audit and assurance, trademark registration in UAE and deregistration of company, while being a certified fraud examiner and auditors for owners association in Dubai and doing developers audit in Dubai as well.

We have served various companies under different sectors regulated by the Dubai Economic Department (DED) from the mainland to the free zones, namely JAFZA, DAFZA, Dubai Silicon Oasis (DSO), Jumeirah Lakes Towers (JLT), Dubai Multi Commodities Center (DMCC), Dubai Internet City, etc. Regardless if it’s a JAFZA offshore company or any other offshore company established in the UAE, we can aid you in ensuring that you are assured with the correctness of your financial matters with our quality audit and assurance service as we are one of the top audit firms in Dubai with a number of the best auditors in Dubai to give you guidance and support.

What is Our Auditing Standards?

As most of the audit firms in UAE, we are following the International Financial Reporting Standards (IFRS), a set of accounting standards that are constructed by a non-profit organization named as the International Accounting Standards Board (IASB). It is a known accounting or auditing standard worldwide, being used by companies and becoming a standard global standard.

AUDITING FIRMS AND ASSURANCE SERVICES IN QATAR

In simple terms, audit and assurance is the assessment of a company’s accounts to establish credibility with the financial information for the benefit of the owners and shareholders of the company for them to make better decisions.

According to Federal Law No. 2 of 2015 or the UAE Commercial Companies Law, every company is required to assign a licensed auditor that is registered under the Ministry of Economy for the auditing of their financial affairs.

Aside from this, there are further more reasons why financial audit is important for your business.

SOME OF THE TYPES OF AUDIT WE OFFER

Internal Audit (Operational Audit)

There are various types of audit performed in the organizations of Dubai. Internal audit or as known as operational audit gives the organization an assurance with regard to the effectiveness when it comes to internal controls, risk management, and governance in achieving the company’s objectives.

External Audit (Financial Audit)

External audit or as known as financial audit deals with the analyzation of a company’s financial affairs. This is the most common type of audit. External audit is about investigating the financial statements of an organization by an external auditor to establish truth and fairness.

Statutory Audit

Statutory audit is a legally required assessment of a company’s or a government’s financial data, establishing its accuracy. Statutory audit serves the same purpose as any other audit in that it analyses financial information such as financial transactions and records.

Farahat & Co: Leading Auditors in Dubai

As one of the leading chartered accountant firms in UAE and being a certified internal auditor, we have more than 30 years of experience in various fields including audit and assurance, trademark registration in UAE and deregistration of company, while being a certified fraud examiner and auditors for owners association in Dubai and doing developers audit in Dubai as well.

We have served various companies under different sectors regulated by the Dubai Economic Department (DED) from the mainland to the free zones, namely JAFZA, DAFZA, Dubai Silicon Oasis (DSO), Jumeirah Lakes Towers (JLT), Dubai Multi Commodities Center (DMCC), Dubai Internet City, etc. Regardless if it’s a JAFZA offshore company or any other offshore company established in the UAE, we can aid you in ensuring that you are assured with the correctness of your financial matters with our quality audit and assurance service as we are one of the top audit firms in Dubai with a number of the best auditors in Dubai to give you guidance and support.

What is Our Auditing Standards?

As most of the audit firms in UAE, we are following the International Financial Reporting Standards (IFRS), a set of accounting standards that are constructed by a non-profit organization named as the International Accounting Standards Board (IASB). It is a known accounting or auditing standard worldwide, being used by companies and becoming a standard global standard.

List of Financial Statements used in Auditing of company accounts below and their definitions:

Financial Statement Audit
The review of a company’s financial statements for the organization to have an assurance coming from an external auditor that the financial statements are in accordance with accounting standards.
Balance Sheet Audit
The information in a company’s balance sheet is examined to make sure that it is accurate, verifying each item that is recorded.
Annual Report Audit
This is consisted of an external auditor’s opinions regarding the result of the examination of a company’s financial statements.
Profit and Loss Statement Audit
The revenues and expenses recorded in the statement is reviewed to ensure the accuracy of each item.
Cash Flow Statement Audit
The cash and cash equivalents indicated in the statement is investigated by an auditor, making sure it is precise.
Statement of Changes in Equity Audit
An auditor analyses every entry of the movement in reserves that comprise the shareholders’ equity in this statement for the purpose of ensuring the correctness of it.
Court Expert Witness
A person who is a specialist in a certain field/s, testifying based on his own opinions and analysis.
Dispute Accounting Support
Someone who is an able to aid and an expert in legal matters with regard to disagreements or problems arising about accounting.
Accounting Compliance and Reporting
Businesses are subject to compliance reporting requirements depending on their situations (preparation and lodgement of financial statements, income tax returns, business and instalment activity statements, fringe benefit tax returns, etc.)
Financial Accounting Advisory
This is an accounting advice or support coming from a team in order to assist firms with regard to accounting standards and other important informations.

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