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A financial audit is a comprehensive examination carried out by outside specialists to verify the company’s financial statements, records, and paperwork. This aids in ensuring that the organization’s financial data is correct, comprehensive, and compliant with regulations.
A financial audit Services in Dubai gives a business vital, in-depth insights and helps find internal management problems.
Rewind Consultancy delivers financial audit statements, such as balance sheets, income, cash flow, and equity statements, and is the best provider of financial audit services.
| Financial Audit Statements | Definition | Components Included |
| Balance Sheet | A balance sheet is a sort of financial statement that describes a company’s financial situation. |
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| Income Statement | By displaying a net profit or loss, the income statement—also referred to as the profit and loss statement highlights the financial success of the business. |
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| Cash Flow Statement | A cash flow statement shows how bank and cash balances have changed over a certain time period. |
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| Modification of Equity | The equity statement of amendments shows the changes in owner equity. |
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Our services at Rewind Consultancy include the following
Our Financial Audit Strategy at Rewind Consultancy
Here is our audit strategy –
Step 1: Verification of Documents and Records
First, we analyse your organisation’s financial paperwork and records, which may consist of receipts, invoices, and financial statements. As there are so many documents (depending on the size of the business), we usually use random sampling to analyse the data. However, because tiny businesses don’t have a lot of records, it is much easier to sift through them all. We verify that the information in these documents is accurate and proper.
Step 2: Calculation
Then, we calculate the records. It also includes recalculating the numbers stated in the organisation’s financial records. It guarantees that the final findings are correct and that there are no erroneous figures.
Step 3: Evaluations of meetings
Rewind Consultancy, as the leading auditing firm in Abu Dhabi, has our auditors go over the minutes of management meetings to find any topics that were discussed and could have an impact on the company’s financial performance. We also ensure that the solutions for the problems discussed in the meeting are properly implemented.
Step 4: Material Resources
Every tangible asset that is in use is listed in an inventory list that organisations maintain. To confirm that the assets genuinely exist in the company, we usually compare this list with the tangible assets. These lists also include information about the assets’ age and condition, which our auditors use to confirm that the data regarding the assets is correct and free of any misstatements.
Step 5: Examining the Financial Documents
This is the last auditing process, but it is of utmost importance. Accounting records are examined for mistakes, odd entries, and omissions. Additionally, each submission is examined to guarantee the authenticity and accuracy of the data. We thoroughly go through the records in order to find any odd activity, such as unauthorized debits or credits. Thus ensuring you are as per the law of the United Arab Emirates.
Our certified audit team provides Financial Audit Services in Dubai to a range of enterprises, including international firms and shopping centers. Our approach is predicated on a thorough understanding of the business and its operations. Our focus is on finding solutions to issues and spotting chances for expansion.
For companies operating in the UAE, financial audit services are crucial to guarantee their financial records are reliable and accurate, that they comply with legal obligations, and that they are aware of both opportunities and risks.
Professional certified auditors at Rewind Consultancy offer financial audit services to all types of enterprises. Contact us and let us know what you need. Our experts know how to deliver the best.
Yes. As per the law in the UAE, all organisations must do a financial audit to ensure they keep their book of accounts updated for 5 years, and also do the annual audit. This helps keep their financial data in hand.
Here are the four audit strategies –
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