External Audit and Assurance Services
In our financial statements audit, we undertake to gather evidence and provide a high level of assurance that the financial statements follow generally accepted accounting principles (GAAP), international accounting standards (IASs) and international financial reporting standards (IFRSs) as well. Through our financial statements audit we are searching and verifying the accounting records and examining other evidences supporting the financial statements. By gathering information about the company and its environment, including internal control; inspecting documents; and performing other auditing procedures, we will gather the evidence necessary to issue an audit report.
What create demand for financial statements audits service?
- Most authorities in UAE will as you for audited financial statements for the purpose of renewing the licenses (Free zones authorities always ask about audited financial statements).
- Most of the banks in UAE will ask for audited financial statements to study the possibility of approving the bank facilities required by your company.
- Main suppliers in UAE will ask you for audited financial statements to study the possibilities of approving the credit facilities required by your company.
- In the new proposed commercial companies federal law draft published in the newspapers and expected to be issued at the end of 2012 or 2013, the managers of LLC will be imposed a fine on no paper accounting records maintained for the period of five years or on any intentional hiding for the real financial position of the company.
- Audited financial statements considered one of the major evidences can support the lawsuits and the legal disputes for or against the company and vice versa.
- Audited financial statements can help the management, the owners, the external and the internal parties to determine the reliability of the company’s’ financial position.
- Audited financial statements provide a high level of assurance that the financial statements follow the (IASs) and the (IFRSs).
- Auditors always considered as a professional advisors to the accounts departments and the management, the accounts departments always asking about the best practice of accounting and internal control.
How we can support you:
MAF Auditing, Accounting & Consultancy work takes into account all current and where appropriate, prospective auditing, accounting, and reporting regulations and guidance. Our audit clients include many of the U.A.E.’s leading corporation, as well as many small and medium-sized companies.
- Compliance with regulations
- Advice on controls and processing system weaknesses
- Confirmation of accounting treatments with respect to complex transactions
- Increased monitoring of perspective accounting and regulatory changes
- Independent review of externally reported information
- Accountants’ reports
What make the difference:
- We are using our own developed auditing software Auditing Control that will help us to manage all the audit procedures in the most efficient way and measure the performance of the audit engagement as well.
- We believe in one principle which is “Serving the clients should be in a highest quality way along with the most competitive services fees”