Internal Audit and control system reviews in UAE

External Audit: Understand How It Works

Every detail makes all the difference to the development of a business, since each process needs to be managed in a meticulous way.

Clarify your doubts and understand the importance of external audit for your company!

Understand what it takes to carry out a flawless external audit for your company

Every detail makes all the difference to the development of a business, since each process needs to be managed in a meticulous way.

In this scenario, intelligent management, based on data and analysis, is crucial to achieve the desired success.

Therefore, we have prepared this content especially to talk about an essential aspect for efficient management: the external audit.

Therefore, we are going to explain what it is about and what are the positive impacts provided, so that you understand the benefits of this process for your company.

External audit – how does it work?

The external audit consists of a process of accounting analysis, which studies in detail to verify the veracity of the data.

That is, its purpose is:

  • Identify possible errors and failures;
  • Thoroughly analyze all financial statements;
  • Analyze the financial health of the business.

With this, it becomes possible to have access to data that reflect the reality of the business and make the most coherent decisions to promote development and the best possible results.

It is worth mentioning that the external audit is a process carried out by an external independent professional, who will apply the accounting methodologies for this purpose.

In other words, the difference with internal auditing is that it is not performed by professionals from the business itself.

Benefits of external audit

The performance of an external audit process is capable of promoting several benefits for a company, since its purpose is precisely to provide an overview of the current reality.

Therefore, the main benefits that we can highlight are:

  • Check that all accounting data are correct;
  • Identify errors in early stages;
  • Avoid losses;
  • Transparency with partners, if any.

From all this, your company will work more efficiently and safely in relation to data and accounting issues.

When to perform an external audit?

 The ideal time to carry out an external audit may vary from business to business, however it is recommended that it be carried out periodically.

Every 5 years it is important to carry out an audit, as it makes it possible to identify tax credits that can be recovered.

It is necessary to count on reliable accounting professionals so that all stages of the process are carried out impeccably, namely:

  • Data analysis;
  • Analytical review;
  • Evidence collection;
  • Report production.

Therefore, it is important to be careful when choosing the professional who will carry out the external audit of your company.

Count on the ideal professionals to keep your business in order!

So that not only the external audit process, but all accounting aspects relevant to your business are always up to date and impeccable, it is crucial to have the right professionals.

And for that, you can always count on us!

Our team is available and prepared to assist you, aiming to optimize your time and ensure that every crucial detail for the success of your business is up to date.

So now just get in touch, we are waiting for you.

 

Source: Auditors in Dubai

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