Why rely on an audit service in your company?

 Auditing is the process of validating the activities carried out by an entity or a part of it, and it may even be specific to only one activity. Her main objective is to validate what was done with what was planned. Among the various types used by companies, one of the most common is the accounting audit service, whose main objectives are to prove the facts that change the assets of companies, the presentation of errors or fraud and, consequently, the suggestion of measures that can be taken to prevent them, as well as verification of the accuracy of the company's internal controls.

 It also checks for the existence of these internal controls and if they are applied correctly. Thus, accounting auditing can be understood as a technique that checks accounting records so that, with this, it can attest to their correct reliability, which means that they must reflect the equity presented.

 What is the final result of an external audit?

 The final product of the external audit is the issuance of a report, previously known as an opinion, on the adequacy of the financial statements in relation to the Accounting Principles and United Arab Emirates Accounting Standards.

 For this, it is necessary that the external or independent auditor has independence as its main characteristic. Furthermore, he cannot have any relationship with the audited company. This report will present the auditor's technical and substantiated opinion regarding the correct observance of current legislation and that this was correctly used in the preparation of the audited financial statements.

 Where does internal auditing come in?

 Auditors in UAE is defined as a set of procedures whose main objective is to examine the integrity of procedures, as well as to verify the adequacy of the internal, physical, accounting, financial or operational controls of a given company.

 The internal auditor's work is defined by the company's management, that is, the points that will be worked on are discussed or even passed on by the board so that the internal auditor can work. In addition, the nature of the work of the internal audit is more linked to the internal routine of the company's work, as this professional will observe compliance with internal rules.

 What is the difference between internal control and internal audit?

 The internal audit can be understood as a review work, in an organized way and that will be developed by a specific department. Internal control, in turn, can be understood as a set of procedures and controls adopted by a certain company.

 These controls and procedures range from the preparation and observation of an organization's plan, through methods and measures observed to compare and understand the company's results, as well as asset protection systems, such as observing certain standards for accounting for assets, the correct adequacy of the company's chart of accounts, administrative policies such as rules and functions for each employee and others specific to each type of business.

 How to optimize your audit process?

 It is necessary to understand that the internal and external audit must work together, that is, it is necessary to continuously verify internal processes, a function performed by the internal audit, which will facilitate the work of verifying the adequacy of the financial statements by the external auditor. Thus, the internal audit must observe some points. Let's go to them.

 All company procedures need to be determined and known – this is necessary for all employees to know and adequately perform the company's internal procedures and so that, as a consequence, the internal auditor can verify possible failures.

Checklist – that is, a checklist, which can be done by department, of the procedures that are required and that are actually being carried out, helping to minimize failures.

 Independence – even if the internal auditor is linked to the company's management, he/she needs to point out what is not in accordance with internal controls, that is, he/she needs to be impartial and point out the path to be followed.

 Of course, all procedures and, later, the internal auditor's findings should always be presented and discussed so that the company can know if it is on the right path or what it should do to correct its course.

 Is it worth investing in the audit?

 Both the Internal Audit and control system reviews in UAE, by issuing the audit report that certifies the reliability of the records, and the internal audit, which uses internal controls to suggest paths that can be traced, are extremely useful and necessary procedures that guarantee the veracity and use of internal rules and procedures and, consequently, the adherence and adequacy to the current legislation. Use Aaa-cas services to improve your controls and get better results.