Specific Audit of Financial Controls

 Understand how the specific Audit of Financial Controls works.

Characterized by the careful verification of documents, reports and internal controls, the Specific Audit of Financial Controls allows verifying the veracity of the information and numbers managed by the financial department of a company, used by the administrators in their analyzes to make important decisions related to the conduct of the Business.

The starting point for carrying out this type of audit is a survey of the existing financial documentation, such as sales orders, receipts, invoices, purchase quotations, bank statements and any other record associated with the company's accounts receivable and payable. This survey consists of supporting documentation, for accurate checking of the numbers presented in the auxiliary reports developed by the finance department.

Any divergence or inconsistency identified can be considered as a risk factor in relation to the veracity of the financial figures, which may therefore reflect on the management of the business.

Another important phase is the evaluation of the information system modules used to generate these data, with adherence tests, also considering their integration with the other modules used by the company's key departments.

This specific audit must also pay attention to compliance with the rules and policies established by management for the proper functioning of the financial department, verifying, for example, whether employees are performing their tasks in accordance with the department's procedures manual and whether their achievement demonstrates weakness for the occurrence of errors and fraud.

This type of specific Auditors in Dubai, focused exclusively on the financial controls of the company, should not be confused with the audit of the financial statements , performed with the purpose of verifying whether the financial statements prepared by the company are in accordance with the accounting practices adopted in the United Arab Emirates.

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