Audit and Assurance
Audit and assurance are the assessment of a company’s financial information in order to establish the credibility of the company for the benefit of the owners and shareholders. As of 2015, the UAE Federal Law No. 2, requires every company to assign a licensed auditor registered under the Ministry of Economy to audit their financial affairs.
In other words, Auditing and assurance are processes that go hand in hand and are usually used when evaluating a company’s financial records. Auditing and assurance are parts of the same process of verifying the information on the company’s accounting records for accuracy and compliance with the accounting standards and principles.
As one of the leading audit firms for the best Audit Services in UAE, we provide audit and assurance services for all kinds of businesses based anywhere in Dubai including the free zones and across different sectors (construction, advertising, banks, offshore companies) regulated by the Dubai Economic Department and based anywhere in Dubai including all the free zones- Jebel Ali Free Zone (JAFZA), Dubai Knowledge Village, Dubai World Central, Dubai Airport Free Zone (DAFZA), Jumeirah Lakes Towers (JLT), Dubai Silicon Oasis (DSO), Dubai Multi Commodities Center (DMCC), TECOM, Media City, Dubai Internet City, Ras Al Khaimah Economic Zone (RAKEZ) Sharjah Airport Free Zone (SAIF).
The Top Audit Services we provide
It is an inevitable fundamental to have a professional look through and recollect accurate evidence thoroughly to lodge an international standard of assurance and precision. The Generally Accepted Accounting Principles (GAAP), International Accounting Standards (IAS), and International Financial Reporting Standards (IFRS) abide by the financial statement that follows as well. Therefore, the audit process does not consist solely of verifying data in the financial statements, but it includes analyzing the business risks and vitalities in its business environment.
Internal auditing is a target catalyst, an objective assurance, and a consultancy activity designed to improve the performance or add value to an organization’s operations. It can help an organization accomplish its strategic goals by undertaking a systematic and disciplined approach towards achieving accurate evaluation and well-planned improvement affirming the effectiveness of risk management, control, and governance processes. ARC Associates is one of the top Audit Firms in Dubai, Abu Dhabi & Sharjah, and all over the UAE providing internal audits of the company.
Free zones authorities advise companies registered under the designated areas to respectively lodge their auditing reports, annually and submit them at the time of the renewal of their trade license. Although the reporting period is ideally one calendar year, a company may initiate another reporting period, as non-compliance with the annual audit report submission may lead to financial penalties. Have your free zone company or entity audited within the regulations of the designated zone. ARC Associates is the best audit firms in Dubai registered in all free zones of UAE.
A TAX audit is an evaluation of an organization’s obligation as a taxable legal formation. FTA (the Federal Tax Authority) conducts this kind of audit to ensure the payment of each liability and each regulatory expense of taxation due is paid, collected, and delivered to the governmental authorities within the period given. The government additionally evaluates an organization whether they are following certain obligations that apply to their business according to the tax laws (Tank Law, Extract Tax Law…etc.). ARC Associates is a top audit firm with TAX experts and auditors who will help clients with TAX Audit.
Due Diligence services in UAE is the procedure through which a potential speculator/acquirer/purchaser assesses and determines the financial consistency of the targeted company, its financial position, and historical financial performance. Due Diligence Audit provides advisory to clients on different matters throughout the entire process of a merger or an acquisition to gain important insights on factors regarding growth, demographics, competitors, and others, reducing efforts and maximizing value answering the question “is it a worthy investment?”
A Strata comprises a building or a group of buildings divided into lots such as residential units, or freestanding properties. Serving as strata top auditors in Dubai, we conduct strata auditing designed to ensure a client is in compliance with RERA (Real Estate Regulation Authority) rules, regulations, and requirements and to ensure that the financial statements, represent an accurate record of the financial position, assets, liabilities, and equity for the given year in line with the accepted accounting principles within the United Arab Emirates (UAE).
As one of the leading companies that handle real estate audit services in Dubai, ARC Associates ensures that you are complying with the laws of the UAE.
To achieve this, we provide a fully detailed report of the real estate audit, checking every aspect of finance, compliance, and operations. It is mandatory for an audit to be carried out for the guarantee account/escrow account as required by the Real Estate Regulatory Authority (RERA) and developers are obliged to comply with the requirements.
Investigative Auditing involves fraud detection, fraud tracing, fraud quantification and fraud prevention, money laundering, and terror finance. Investigative Auditing includes the assessment of accounts and the use of accounting procedures to discover financial abnormalities and irregularities, embezzlement and mismanagement of financial and operational activity, and to follow the flow of funds and assets in organizations. The aims of Investigative Auditing include, inter alia identification of suspects; determination of damages; quantification of damages; prevention of damage; identification of financial activity, and tracing of financial assets.
Our Auditing Standards
As one of the Best Audit Companies in UAE, we follow a set of accounting standards (International Financial Reporting Standards (IFRS) constructed by the non-profit organization, The International Accounting Standards Board (IASB) that is impeccably a gold standard and used by tycoons and huge companies and entities worldwide.
