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Audit & Assurance

The goal of the “Audit and Assurance” task is to deliver an impartial audit evaluation of the company’s yearly financial statements for each fiscal year within the audit appointment’s duration.

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ABOUT US

BizEdge Auditing

Bizedge  provides the Best Accounting Services Dubai and also provides bookkeeping services dubai. It constitutes a cluster of companies operating within the framework of Bizedge Corporate Services Provider CSP LLC. Located in Dubai, our primary mission is to provide our clients with invaluable insights to enhance their operational efficiency. Leveraging our extensive local knowledge and a truly global perspective, we cater to a wide range of clients, including large corporations, medium-sized businesses, aspiring entrepreneurs, and complex organizations based in the United Arab Emirates.

Auditing services | Bizedge

SERVICES

Explore Our Services

Unveil our comprehensive range of services encompassing audit, accounting, tax, and business-related needs, tailored to fulfill all your requirements.

External <br> Auditing

External
Auditing

Liquidation <br> Report

Liquidation
Report

Revenue <br> Audit

Revenue
Audit

Internal <br> Audit

Internal
Audit

Management <br> Report

Management
Report

Stock <br>Audit

Stock
Audit

Cost <br> Audit

Cost
Audit

Interim Audit <br> Report

Interim Audit
Report

Compliance <br> Audit

Compliance
Audit

Tax <br> Audit

Tax
Audit

Special Purpose <br> Audit Report

Special Purpose
Audit Report

Forensic <br> Audit

Forensic
Audit

In the dynamic world of business, whether at a small scale or large scale, entrepreneurs should not immerse themselves excessively in the intricacies of accounting and auditing. Instead, their focus should be on maximizing returns, expanding their workforce, and enhancing products and services. As a business owner, tasks like business valuation, risk identification, credit enhancement, and goal achievement demand attention. Enter the realm of auditors in the UAE, who can adeptly handle these aspects by meticulously evaluating your company’s financial reports.

Auditing serves as a strategic method to assess a company’s internal controls’ effectiveness. Bizedge offers comprehensive Financial Audit Services in the UAE, ensuring accuracy and compliance Maintaining a robust internal control system is pivotal for achieving business objectives, attaining accurate financial reporting, deterring fraud and asset misappropriation, and minimizing capital costs. Both internal and independent auditors contribute uniquely to a company’s audit ecosystem. By engaging a proficient auditor in the UAE, you can unveil issues, ensuring efficiency and a high level of assurance. Opting for professional audit services in the UAE also guarantees optimal transparency in your business finances.

Essence Of Auditing In UAE

Explore the essence of auditing in Dubai with BizEdge. Discover top auditing companies in Dubai that ensure compliance and enhance your business performance.

Enhancing
Decisions

Third-party assurance enhances management confidence in financial accuracy & aiding decisions.

Streamlined Planning
& Budgeting

Audited information informs cost allocation and budgeting, supporting future business development.

Ensuring
Compliance

Auditing verifies alignment with financial standards and regulations in financial statement preparation.

Elevating
Credibility

Audited information bolsters owner credibility, encouraging increased investments and market expansion.

Detecting Errors
& Fraud

Meticulous examination reveals errors and safeguards financial integrity from fraud activities.

Materiality
Proof

Auditing furnishes tangible evidence and documentation of transactions and cash flow.

Exploring Auditing

An audit entails a comprehensive and impartial examination of an organization’s records, financial statements, statutory documents, and supporting evidence. This meticulous review ensures that both financial and non-financial disclosures present an accurate and unbiased perspective of the enterprise. Essentially, it delves into assessing an existing system, report, or entity.

For reliable audit companies in Dubai, look no further than BizEdge. As a leading audit firm in the UAE, we specialize in delivering tailored auditing solutions. Our expertise extends to various sectors, ensuring compliance and transparency. If you’re searching for top audit firms in DMCC, our dedicated team is ready to assist you in achieving your financial goals. Contact us today!

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Understanding Assurance Services

Assurance services encompass a systematic analysis of accounting entries and financial records. They serve either compliance-based or regulatory purposes. By evaluating adherence to guidelines, policies, and rules, assurance services offer both internal and external confidence in financial statements.

The Growing Importance of Auditing

The significance of auditing grows as business landscapes evolve. Complexities intensify, and management employs diverse strategies to stay competitive. In a technologically advancing world, accounting and auditing adapt to market shifts while safeguarding stakeholders’ interests.

Key Reasons for Conducting Audits

Regulatory Compliance Review

Regulatory Compliance Review

Audits ensure adherence to various managerial regulations.

Enhancing Operational Efficiency

Enhancing Operational Efficiency

Effective audits facilitate streamlined business operations.

Community Reputation

Community Reputation

Audits bolster the business’s standing in the community.

Investor Confidence

Investor Confidence

Audits offer due diligence for shareholders and potential investors.

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Management Assurance

Management Assurance

Audits build management’s confidence in the business’s preparedness to tackle challenges.

AUTHORITIES

Affiliation & Accreditations

We take great pride in our expertise and are eager to discuss the international accreditations and affiliations we are associated with, ensuring your confidence in our capabilities.

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OUR TEAM

Behind Our Success

“Meet our passionate team of innovators dedicated to delivering exceptional solutions and driving success for our clients.”

TESTIMONIALS

What Clients Have To Say

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External Auditing

An external audit is an examination that is conducted by an DMCC Approved independent accountant. This type of audit is most commonly intended to result in a certification of the financial statements of an entity. This certification is required by certain investors and lenders, and for all publicly-held businesses. The objectives of an external audit are to determine:

  • The accuracy and completeness of the client’s accounting records.
  • Whether the client’s accounting records have been prepared in accordance with the applicable accounting framework.
  • Whether the client’s financial statements present fairly its results and financial position.

Excellence is registered auditor in UAE to perform an external audit in compliance with local UAE laws & regulations according to the International Financial Reporting Standards (IFRS).

Liquidation Report

A liquidation report is a critical document that outlines the winding up of a company, marking the cessation of its operations and existence. This report is required by authorities as part of the process to cancel a company’s trade license. The liquidation audit report provides a detailed listing of the company’s liabilities and assets, ensuring that all financial information is accurately conveyed to the liquidator.

During liquidation, a company’s assets are converted to cash and distributed to creditors or applied to other obligations. Specific rules govern the distribution of these assets, and a thorough liquidation audit ensures that the process is conducted accurately and completely.

In Dubai, various authorities such as the Dubai Economic Department (DED), Jebel Ali Free Zone Authority (JAFZA), Dubai Airport Free Zone Authority (DAFZA), Dubai Multi Commodities Center (DMCC), and Dubai Silicon Oasis (DSO) require a final liquidation audit report before a business can officially close its operations and cancel its license.

Bizedge Auditing specializes in preparing and submitting liquidation audit reports to the relevant authorities. We provide top-tier audit services in Dubai to facilitate a smooth and compliant company closure process. If you require assistance with company liquidation or need a liquidation audit report, Bizedge Auditing is here to support you every step of the way.

Revenue Audit

A Revenue Audit is a thorough process designed to ensure that a company’s tax returns align with its business records. This audit plays a crucial role in monitoring tax compliance, detecting potential tax evasion, and identifying any additional liabilities. During a revenue audit, auditors review income returns over a specific period, typically one year, to verify accuracy and completeness.

The audit process involves two main stages: testing the revenue accounts on your income statements and examining accounts receivable on your balance sheet. Auditors also look for potential revenue recognition issues, such as side agreements or channel stuffing, which can artificially inflate revenue figures.

Bizedge Auditing, a registered audit firm in Dubai, UAE, provides expert revenue audit services. Our experienced auditors offer a comprehensive and fair analysis of your company’s financial records, ensuring you meet all revenue audit requirements while safeguarding your compliance with tax regulations.

Internal Auditing

Internal audits play a critical role in evaluating a company’s internal controls, including corporate governance and accounting processes. These audits ensure adherence to laws and regulations, support accurate financial reporting, and enhance data collection practices. By identifying issues and addressing them proactively, internal audits help management improve operational efficiency and prevent potential problems from being uncovered during external audits.

At BizEdge, our highly qualified audit professionals can help you perform regular internal audits to ensure full compliance with all relevant laws and regulations. This proactive approach not only helps you stay prepared for your next external audit but also fosters trust with clients and mitigates the risk of costly fines associated with non-compliance. Internal auditing is a valuable investment in your organization’s long-term success and stability.

Management Report

Management Audit Report offers a comprehensive assessment of your company’s management team, evaluating their effectiveness in achieving corporate objectives and working in the best interests of shareholders. This audit focuses on the overall capabilities of your leadership, ensuring strong employee relations and maintaining reputational excellence.

This report also provides valuable insights into internal controls, offering management a platform to address key issues and concerns that may not be covered in other areas of the annual report.

Stock Audit

A Stock Audit is a critical process for any business that involves the physical verification of inventory. It ensures that the actual stock aligns with the stock records and helps businesses maintain the right balance of inventory to avoid unnecessary investments. Proper stock management is crucial, as overstocking can lead to cash flow issues and financial losses, while understocking may result in missed opportunities and delays.

At Bizedge Auditing, we offer comprehensive stock audit services in Dubai. We assist organizations with semi-annual or annual stock audits, providing assurance that your physical stock matches your stock records. Our services include verifying excess or shortages in materials, as well as identifying expired, outdated, or damaged inventory that could negatively impact your business.

Key Aspects of Our Stock Audit Services:

  • Stock Accounting: Detailed verification and tracking of stock.
  • Stock Reconciliation: Ensuring that physical inventory matches stock records.
  • Reporting: Providing a complete report on the physical status of your inventory.
  • Stock Valuation: Assessing the value of your inventory to ensure accuracy in financial reporting.
  • Inventory Coding & Categorization: Organizing and labeling your inventory for better management.

A well-executed stock audit offers deeper insights into your inventory, helping to reduce losses due to damage, fraud, or wastage. It also gives management better control over stock levels and helps optimize financial performance.

Cost Audit

A cost audit involves the verification of cost accounts and ensuring compliance with a company’s cost accounting plan. Its primary objective is to confirm the accuracy of cost accounting records and ensure they align with established principles, procedures, and objectives.

The cost audit process typically includes:

  • Verifying the accuracy of costing records
  • Detecting errors in cost records
  • Ensuring proper maintenance of cost books, accounts, and records

Though a relatively recent practice, cost auditing has become a powerful management tool for controlling operations. It serves as a safeguard, protecting the interests of all stakeholders connected to the organization by maintaining transparency and accuracy in cost-related matters.

Interim Audit Report

The Interim Audit Report provides an early review of your financial statements before the year-end audit. This audit approach allows us to perform testing on interim financial data, reducing the workload and streamlining the process during the final audit. By addressing potential issues early on, the interim audit helps ensure a smoother and more efficient annual audit process.

Whether driven by client request or regulatory requirements, an interim audit is a valuable tool to maintain financial accuracy and mitigate risks throughout the fiscal year.

Forensic Audit

A forensic audit involves a meticulous examination and evaluation of a firm’s or individual’s financial records to gather evidence suitable for legal proceedings. This specialized audit is crucial for uncovering and documenting fraudulent activities that may impact a company’s financial integrity and legal standing.

When companies detect suspicious activities, it is essential to act swiftly to mitigate potential fraud and protect both revenue and reputation. Certified fraud examiners are essential for conducting thorough forensic investigations to uncover and address financial misconduct.

Bizedge Auditing is a leading forensic auditing firm based in Dubai, UAE, recognized with free zones and banks. We offer comprehensive fraud investigation and forensic auditing services designed to assist companies in uncovering financial fraud and providing solid documentary evidence.

Our Forensic Auditing Services Include:

  • Corporate Fraud Investigation: Uncovering fraudulent activities within the organization.
  • Asset Misappropriation: Investigating unauthorized use or theft of company assets.
  • Financial Reporting Fraud: Detecting inaccuracies or manipulations in financial statements.
  • Suspicious Transactions: Analyzing unusual financial transactions for signs of fraud.
  • Bribery & Corruption: Identifying and addressing instances of bribery and corruption.
  • Claims Analysis: Evaluating the legitimacy of insurance or other financial claims.
  • Anti-Money Laundering: Ensuring compliance with anti-money laundering regulations and detecting related activities.
  • Determination of Compliance: Assessing adherence to legal and regulatory requirements.

At Bizedge Auditing, we are committed to providing thorough forensic audit services to safeguard your company’s financial integrity and support your legal and regulatory needs.

Tax Audit

A tax audit is essentially the government’s evaluation of a company’s compliance with its tax obligations. Conducted by the Federal Tax Authority (FTA), this audit ensures that all tax liabilities are accurately paid and that any taxes due are collected and remitted to the government within the required timeframe. Additionally, the audit assesses whether the company is adhering to specific responsibilities outlined in relevant tax laws, such as the VAT Law and Excise Tax Law.

BizEdge, a registered and approved tax advisor in Dubai, UAE, can help ensure your business remains organized and fully compliant with VAT regulations. When your company faces an audit by the FTA, you can be confident that everything is in order. Our proactive approach helps alleviate concerns surrounding tax audits and ensures you’re always prepared.

To help you get ready for an upcoming audit, we offer the following review services:

  • System Review: Since the introduction of tax in the UAE on January 1, 2018, businesses have been required to ensure that all departments, particularly accounting, are prepared to meet VAT requirements. A system review ensures that your accounting software complies with VAT laws and that all recorded transactions are consistent.

  • Tax Calculation Review: Ensuring compliance with tax laws requires accurate calculations of both output and input taxes. The standard tax rate is 5%, and any goods or services falling under zero-rated or exempt categories must be treated accordingly, with appropriate supporting documentation. A review of your tax calculations ensures accuracy and compliance.

  • VAT Return Review: Our tax consultants thoroughly review your VAT returns to ensure they are prepared correctly, with values properly recorded and all required information accurately filled out. We also ensure that VAT returns are filed within the deadlines set by the FTA.

  • Tax Payment Review: Timely payment of the correct tax amount is critical to avoiding penalties. Our consultants help ensure that your tax payments are made on or before the due date, preventing any negative attention from the FTA due to missed payments.

With BizEdge by your side, you can face tax audits confidently, knowing that your business is fully compliant with all relevant tax laws.

Special Purpose Audit Report

A Special Purpose Audit Report is a targeted audit designed to meet specific needs, focusing on particular financial information for defined users. Unlike general financial statement audits, this type of audit provides a detailed review of specific financial data, such as a single financial statement, specified accounts, or compliance with contractual agreements.

Conducted in line with International Standards on Auditing, special purpose audits can be tailored to assess financial statements prepared under alternative accounting frameworks or summarized financial statements. Whether driven by regulatory needs or specific client requests, a special purpose audit delivers precise and reliable insights to help you meet your unique financial reporting requirements.

Forensic Audit

A forensic audit involves a meticulous examination and evaluation of a firm’s or individual’s financial records to gather evidence suitable for legal proceedings. This specialized audit is crucial for uncovering and documenting fraudulent activities that may impact a company’s financial integrity and legal standing.

When companies detect suspicious activities, it is essential to act swiftly to mitigate potential fraud and protect both revenue and reputation. Certified fraud examiners are essential for conducting thorough forensic investigations to uncover and address financial misconduct.

Bizedge Auditing is a leading forensic auditing firm based in Dubai, UAE, recognized with free zones and banks. We offer comprehensive fraud investigation and forensic auditing services designed to assist companies in uncovering financial fraud and providing solid documentary evidence.

Our Forensic Auditing Services Include:

  • Corporate Fraud Investigation: Uncovering fraudulent activities within the organization.
  • Asset Misappropriation: Investigating unauthorized use or theft of company assets.
  • Financial Reporting Fraud: Detecting inaccuracies or manipulations in financial statements.
  • Suspicious Transactions: Analyzing unusual financial transactions for signs of fraud.
  • Bribery & Corruption: Identifying and addressing instances of bribery and corruption.
  • Claims Analysis: Evaluating the legitimacy of insurance or other financial claims.
  • Anti-Money Laundering: Ensuring compliance with anti-money laundering regulations and detecting related activities.
  • Determination of Compliance: Assessing adherence to legal and regulatory requirements.

At Bizedge Auditing, we are committed to providing thorough forensic audit services to safeguard your company’s financial integrity and support your legal and regulatory needs.