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    Best Financial Statement Audit Service in UAE

    We provide financial statement audit services in the UAE at Vigor Accounting & Taxation, which is mandatory for all companies registered with them and compliance auditors must have visibility on transactions. All companies in the UAE are obliged to audit their accounts according to UAE commercial companies law.

    Financial Statement Audit

    Financial Statement Audit: It is an independent examination of the company's financial accounts and records. It aims to present a true and fair view of the financial performance. The accompanying auditor's report guarantees the truth and fairness of these financial statements.

    Why Are Financial Statements Audited?

    We, at Vigor Accounting & Taxation ensure a company audit is immaculate which further elevates the creditworthiness of your financial statements. This is crucial for:

    • Regulatory Compliance:
      publicly registered companies file audited yearly reports with regulatory bodies.
    • Through credit, one can Establish financial support for providing support;
    • Lender Requirements:
      For loans from banks essential to produce lender statements.
    • Supplier trust:
      Audited financial statements might be requested from suppliers in order to grant trade credit.
    • A thriving commercial community
    Financial statement audits by nature assist with accomplishing the accompanying objectives:
    • Auditor's opinion on Financial Statements:
      Whether financial statements which are prepared by management reflect a true and fair view of the company, such as whether they comply with accounting standards or statutory requirements
    • Disclosure of Material Matters:
      Make sure everything important that needs to be disclosed in a financial report is accounted for.
    Significance of Financial Statement Audits :

    Few may think that their company does not require the assistance of a financial statement auditors but actually they are not aware of its significance.

    • Quality Enhancement
      Informs management controls and business processes area of potential improvement
    • Investor Assurance:
      High level of confidence that financial statements are not materially misstated.
    • True and Fair View:
      Makes certain that financial statements provide the true and fair view of the company’s financial position

    Audit Process

    Companies operating in the DMCC must adhere to strict regulations and provide auditors with accurate and transparent financial information. Concealing or omitting any details is not permitted under DMCC guidelines. The auditing process in DMCC involves several key steps:

    01
    Planning and Risk Assessment
    • We invest time to plan and learn your business, its environment.
    • We assess the risk of material misstatement, then design and perform further audit procedures according to this level.
    02
    Internal Controls Testing
    • Internal Control — Assess the risk that significant component deficiencies will not be prevented or detected on a timely basis by those controls that are intended to mitigate such risks.
    • The stronger the internal controls, the less detailed the audits are; whereas poor control environments necessitate more intense tests.

    03

    Substantive Procedures
    • Execute detailed activities over financial statement line items and disclosures which includes, but is not limited to.
    • Cash: bankStatements, petty cash and Bank reconciliations.
    • Accounts Receivable: Confirm ending balances, evaluate reconciliation statements and test cut-off procedures.
    • To perform audit work related to inventory counts, invoice analysis and observations of the client’s physical count of inventories.
    • Confirm or Cutting off Testing: Cut-off procedure is tested for accounts payable.
      Catch it with assets, approve purchases and confirm valuations.
    • Sales invoices and confirmationsReview of tenant transactionsRevenue
      Budgets: Review invoices and similar actions

    Why Vigor Accounting & Taxation?

    • Integrity: We issue independent and genuine reports when performing audits.
    • Standard Of Care: The Servicer shall exercise at least the same care in handling and accounting for all Cash remitted by or on behalf of any Obligor as it exercises with respect to similar items that belong to itself, TAKE FUNDS AND NOTIFICATION…
    • Confidentiality : All information given to us is kept absolutely confidential.
    • Skill and Competence: Our auditors are skilled, well trained to do audits effectively.
    • Efficiency: We schedule and complete audits in record time.

    Collaborate with Vigor Accounting & Taxation to secure your financial statement audits that align seamlessly with what you want for business and continue adhering compliance standards.

    Transform Your Vision into Reality—Book Your Free Consultation!

    Don’t wait—schedule your free consultation today and take the first step towards transforming your vision into reality!

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