Auditing
Internal Audit
Since 20179 Since 2017
- Independent of your finance team
- Findings you can act on
- FTA approved tax agency
Talk to an auditor
Tell us what prompted the question and we will tell you which of the eleven it points at.
- Reply in 24h
- FTA approved
- Direct to a specialist
In one line
An external audit answers to somebody outside the company. An internal audit answers to you, and there are eleven of them depending on what you need to know.
Overview
Dubai, UAE , Internal Audit Firms
Vigor provides professional internal audit services in Dubai, intended to reduce the strategic, operational and financial risks of your organization. Our internal audit service in Dubai gives independent assurances towards achieving better operations, risk management and control processes.
What Is Internal Auditing?
Internal auditing services Dubai review a company's internal controls and assess risks in financial reporting or bookkeeping. Regulatory Compliance and Data Collection Our internal auditors check management practices in different departments and point out inadequacies, gaps & lapses if any along with efficiency of controls, procedures as well as financial systems. Once analyzed, we create actionable reports and possible measures business owners may take to improve their business management.
- Kinds of internal audit
- 11Kinds of internal audit
- Professionals in Business Bay
- 75+Professionals in Business Bay
- years, since 2017
- 9years, since 2017
Vigor Accounting & Taxation is one of the leading internal audit firms in Dubai that offer quality and professional auditing services. We are certified internal auditors.
Reasons to Hire Vigor Accounting & Taxation
01
Skills
02
Customized Approach
03
Efficiency and Timeliness
04
Full Services
05
Trust and Confidentiality
Why it matters
What is the requirement of Internal Audit Services?
Due to this Dubai business environment Internal audit plays a critical role in shaping the sustainability of companies. Our experienced professionals evaluate your company's internal controls, risk management practices and compliance procedures to bring you valuable insights that will allow you improve efficiency, reduce costs and streamline performance.
We provide a range of internal audit services, from risk assessments and documentation or controls to operational audits and IT system reviews. We know what to do so that the governance, risk management and control processes of your organization are well done. Contact Vigor Accounting & Taxation to receive high-quality internal auditing services in Abu Dhabi, Ajman, Sharjah and Fujairah. We provide quality affordable audit solutions that offer modern-day legal compliance to give your business the make it needs while growing.
What you get out of it
Internal Audit Services and Advantages for Your Organization
Internal audits, as we know through our internal auditors at Vigor Accounting & Taxation are a key for any business success. Benefits of Our Comprehensive Solutions for Internal Audit Services in Dubai :
Enhanced Risk Management
- Discover: how to recognize risks at organization and system levels.
- Create robust risk mitigation strategies and controls
- Further develop your competence to take an integrated view of risk and change.
Better Governance & Compliance
- Complying with applicable laws and regulations specific to the industry.
- Strengthening internal controls and governance mechanisms
- Minimize exposure to non-compliance penalties and loss of reputation/legal costs.
Enhanced Operational Efficiency
- Recognize and assess risks to operations, processes, and systems.
- Risk reduction Organization -Strategies to reduce risk and improve productivity.
- Enhancing its capacity to manage risks and adapt to new realities.
Fraud and Dishonesty Safekeeping
- Identity fraud, anti-corruption campaign.
- Develop and maintain fraud detection mechanisms like Internal Controls to safekeep company assets.
- Conduct fraud analysis, and provide litigation-guarding purposes if necessary.
Reliable Financial Reporting
- Accuracy and transparency in financial reporting , Your non-profit accounting solution must provide the facility to let you keep your books correct, up-to-date.
- Ensure his financial statements, records and transactions are accurate.
- Improve stakeholder trust and make better decisions with better information.
Identified Strategic Insights and Recommendations
- Operations / Risks / Opportunities , Provide context
- Provide recommendations to drive improvements and growth.
- Help management to make right decisions on the basis of correctness
How it runs
The same four stages, whichever of the eleven you need
What changes between the eleven is what gets examined. How the work is run, agreed and reported does not.
01
Scope and terms of reference
What is being examined, what it is being measured against, and who receives the findings. Agreed in writing before anything begins.
02
Walkthrough and testing
The process as documented, the process as performed, and the gap between them. Sampled where volume makes full testing pointless.
03
Findings and management response
Every finding rated and put to management before it is written up, so the report contains the answer as well as the problem.
04
Report and follow-up
A report the board can act on, with owners and dates against each action, and a follow-up to confirm what actually changed.
Phase 1 of 4
Scope and terms of reference
Which one you need
Nobody arrives knowing they need a recovery audit
They arrive knowing something is wrong. So start from the situation rather than the name: tick what is true of your business and the eleven re-order themselves.
Step one
Tick anything that is true of your business
Thirty-three situations, each one taken word for word from the audit page it belongs to. Tick as few or as many as apply.
Scroll for all 33 · 11 audits
Step two
The eleven, waiting
Nothing is ticked yet, so these sit in their usual order. They re-arrange as you go.
- Compliance AuditWhether the business is doing what the law, the licence and its own policies require.
- Financial Control AuditWhether the controls around money actually stop what they are supposed to stop.
- Financial Statement AuditWhether the accounts give a true and fair view, tested and signed.
- Forensic and Special AuditWhat happened, traced through the records to a standard that survives a dispute.
- Independent ReviewA lighter check than a full audit, where assurance is wanted but an audit is not required.
- Information System AuditWhether the systems holding the numbers can be trusted to hold them correctly.
- IFRS ReportingWhether the accounts are prepared the way IFRS requires, and what has to change if not.
- Investigation AuditA targeted enquiry into something specific that has already gone wrong.
- Operational AuditWhether the way the business runs is actually achieving what it is meant to.
- Recovery AuditMoney already paid out that should not have been, found and recovered.
- Risk ManagementWhat could go wrong, ranked, and what would have to change to reduce it.
How the ranking works: each audit scores one point for each of its own situations you tick, and nothing else. It is a way into the right page, not an assessment of your company. An auditor confirms scope before any work is quoted.
Or go straight to one
Government Agencies
We work closely with all Government Agencies
Company formation, licensing, visas, customs codes and tax registration all pass through these authorities. Start a company setup.
Answers
Questions asked before an internal audit starts
The 6 asked most often about internal audit in the UAE.
01Is internal audit mandatory for companies in the UAE?
Internal audit is not a statutory requirement in the way external audit is for many free zone licence renewals. It is a management tool used to review internal controls, bookkeeping accuracy and financial reporting risk. Whether your business needs one depends on its size, regulatory sector and whether shareholders or a board require independent assurance over controls.
02How much does an internal audit cost in Dubai?
Internal audit work is quoted with a proposal once the scope, company size and areas to be reviewed are known, so no fixed fee can be given here. The cost depends on the number of processes covered, transaction volumes and how frequently the review is required. Bookkeeping services, by contrast, start at AED 599 per month for up to 50 transactions.
03How long does an internal audit take to complete?
Timing depends on the size of the company, the number of departments or processes reviewed and how well organised the underlying records are. A focused review of one area may take a few days, while a full review of controls across finance, operations and compliance takes longer. A realistic timeline is confirmed once the scope is agreed.
04What is the difference between an internal audit and a statutory external audit?
An external audit gives an independent opinion on whether financial statements are fairly presented and is often required for free zone licence renewal. An internal audit reviews internal controls, risk management and bookkeeping processes for management's own use, and is not a substitute for the external audit a free zone or authority may require.
05What records do I need to provide for an internal audit?
You would typically provide accounting records, bank statements, invoices, contracts and internal policies covering the area under review. UAE law requires every company to keep accounting records for at least five years, so these should already be available. The exact list depends on which processes, such as procurement, payroll or revenue, the review covers.
06Which businesses benefit most from an internal audit?
Businesses with growing transaction volumes, multiple departments, or shareholders and boards wanting independent assurance over controls tend to benefit most. It also suits companies preparing for a future statutory audit or tightening bookkeeping before expansion. Vigor Accounting and Taxation reviews internal controls and risk areas as part of this service.
Not here? Ask Vigor, and a specialist picks it up from there.
