What is and what the role of external auditing in your company

 

Learn about the role of external auditing and see how it can benefit your company.

 It is essential to submit any and all companies to the evaluation processes of how their resources are being used in order to improve them. In view of this, external Auditors in UAE, or independent auditing , as it is also known, emerged as part of the evolution of a company .

 It acts to ascertain all the internal procedures and policies defined by the company, making it possible to see whether the accounting and internal control systems are being effective and carried out within criteria that are healthy for the company's financial life.

 The external auditor works independently, with no employment relationship, and his attention is focused on the reliability of the accounting records. Most of the time, he also works in partnership with the internal auditor, to test the efficiency of the systems used.

 External and internal audits are usually linked to the accounting field and have common interests and a strong connection between their work. Usually, the internal audit works more as a coordination within the company, while the external audit seeks to prove the financial statements and, for this, it uses the results of the internal audit . Thus, these two areas should seek to unite their work to make better use of resources, benefits and skills.

 The work of verifying the equity and financial situation of companies is extremely important for future investors of funds and other business partnerships. As a security measure against the possibility of manipulating information, future investors demand that these statements be examined by a professional independent from the company and of recognized technical capacity.

 Qualified professionals,  must have an obligation to meet the company's needs with regard to the reliability of financial information, in addition to reviewing operations and internal control , generating reports and reports that prove their real financial situation. .

 Read also: Are you looking for ERP Accounting Software solutions in Dubai

 Do you have anything to add about the importance of external auditing? Share your opinion!