Internal Audit Services in Dubai
AAB is an approved audit accounting firm in Dubai, UAE. We follow an independent activity of internal audit accounting service in UAE. The objective is to provide assurance and consulting services that are designed to add value to and improve an organization’s operations. We at AAB helps an organization to accomplish the objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
Our Internal Auditors in Dubai achieve this by providing insights and recommendations based on analyses and assessments of data and business processes. With a commitment to integrity and accountability, internal auditing provides value to governing bodies and senior management as an objective source of independent advice.
Our Internal Auditors work with management to systematically review systems and operations. These reviews (audits) are aimed at identifying how well risks are managed including whether the right processes are in place, and whether agreed procedures are being adhered to. Internal auditing may also involve conducting proactive fraud audits to identify potentially fraudulent acts; participating in fraud investigations under the direction of fraud investigation professionals, and conducting post investigation fraud audits to identify control breakdowns and establish financial loss.
Our Internal auditors in Dubai or any region in UAE are not responsible for the execution of company activities; we advise to management and the Board of Directors (or similar oversight body) regarding how to better execute their responsibilities.
Our reports are presented to the CEO and board (via the audit committee) as we provide an independent viewpoint on the extent to which an organization is poised for success and advice on areas for improvement.
What Is Internal Audit?
Internal audit in UAE is a dynamic profession involved in helping organizations to achieve their objectives. It is concerned with evaluating and improving the effectiveness of risk management, control and governance processes in an organization.
Is Internal Audit service required for SME companies in UAE?
You often ask, is internal audit necessary for your company? What if we’re a smaller organization, should we be spending our already limited resources on an internal audit program? If your business depends on you to provide efficient, compliant, and secure services, then the answer is a definite “yes”. Internal audit is an important function of any information security and compliance program and is a valuable tool for effectively and appropriately managing risk. Are we ensuring we are doing what we say we’re doing? Are there gaps in our policies and procedures? Areas for improvement? Are we meeting our compliance goals? These important questions are addressed through internal audit
5 Reasons why Internal Audit service is so important?
- Provides Objective Insight
- Improves Efficiency of Operations
- Evaluates Risks and Protects Assets
- Assesses Controls
- Ensure Compliance with Laws and Regulations
What kind of Internal Audit services we do provide in UAE?
When it comes to Internal Audit service, we are no different in considering all the measurements. Our Internal Audit team deals in no other exceptions here as well. We try to provide every possible report that can alert the management about any wrong method being practiced or committed by the staff and officers of the company. We prepare the following meaningful reports:
- Financial Statements Audit
- Financial System Audit
- Compliance Regulations
- Advice controls and processing system weaknesses
- Confirmation of accounting treatments concerning complex transactions
- Increased monitoring of prospective accounting and regulatory changes
- Independent review of externally reported information
Difference Between Internal and External Audit:
Internal auditors are often confused with external auditors, however, there are significant differences between the professions. External auditors focus on the accuracy of the annual report and financial statements whereas the internal auditor has a wide-reaching brief that considers anything which might be important to an organization’s success.