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Audit and Assurance

Audit and Assurance

Auditing is the mainstay of our practice. We offer a broad range of financial reporting services to meet the diverse needs of the various type of businesses. Our breadth of experience gives us the perspective to perform auditing services skillfully and efficiently.

We approach the audit as a service for the benefit of our clients. We demand audit excellence and set tough policies to achieve it so we hire talented people and invest heavily in training  and tools, including systems for achieving consistency, objectivity and accountability in strict compliance with professional standards.

We conduct the audits adhering to the latest International Auditing and Accounting Standards and International Financial Reporting Standard. Those standards require that we plan and perform the audit to obtain a reasonable assurance as to whether the financial statements are free from material misstatements.

Our Auditing Services include:

1. Statutory and External Audit

We keep our staff abreast of changing legislation and regulations, and adapt well planned and documented procedures involved in our audit program which identifies risk areas; suggests internal controls as well as improve requirements in information generation.

2. Internal Audit

This type of service is an essential tool of the management used to continuously monitor and control the working of the organization. An Internal audit by an external professional firm like ours assures to achieved the optimum results as we have knowledge and professional competence as well as the independence to evaluate and report impartial findings.

3. Review of Financial Statements

Is a service under which our firm analyze a Company’s financial statements for decision-making purposes and to understand the overall health of an organization. We obtain limited assurance that there are no material modifications that need to be made to an entity’s financial statements for them to be in conformity with the applicable financial reporting framework (such as GAAP or IFRS).

4. Preparation of Management of Accounts

Our firm provides this services to clients in order to facilitate and help the Company’s top management to understand the worth of their business on on-going basis.

Speak with the court experts at Asad Abbas & Co. (Chartered Accountants).

Call or send whatsapp at +972506256518 or email info@abbasaccounting.com

Management accounting focuses on the measurement, analysis and reporting of information that can help managers in making decisions to fulfil the goals of an organization. In management accounting, internal measures and reports are based on cost-benefit analysis, and are not required to follow the generally accepted accounting principle

VAT accounting in the United Arab Emirates concentrates on the preparation, analysis and presentation of tax payments and tax returns. The U.A.E. VAT system requires the use of specialized accounting principles for tax purposes which can differ from the generally accepted accounting principles (GAAP) for financial reporting.

Depending on its size, a company may be legally required to have their financial statements audited by a qualified auditor, and audits are usually carried out by accounting firms.

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