Internal Audit Services in Abu Dhabi

Hire Internal Audit Services in Abu Dhabi

Abu Dhabi being one of the greatest business hubs in the world attracts investors and entrepreneurs from around the globe, resulting in increased competition in the market. With the motive of getting ahead of other firms in Abu Dhabi, most of the firms conduct internal audits by professionals like CDA to review their businesses and identify opportunities to tackle their competitors. The most common method adopted by businesses in Abu Dhabi is to approach experienced auditing firms like CDA, which perform audits for them in the most cost-efficient manner.

Benefits of Internal Auditing Services by CDA in Abu Dhabi

Through a structured and methodological approach, internal auditing assists a company in achieving its strategic goals. The following are some of the ways internal audit services support an organisation in Abu Dhabi:

• Fraud Detection

Fraud detection is made simpler with frequent internal audits. Furthermore, there is less time between the initiation of fraud and its detection. Firms in Abu Dhabi may encounter various fraud activities like money laundering, payroll fraud, terrorist financing, etc. CDA, with its internal audit team, can help tackle such challenges.

• Unbiased Evaluations

A comprehensive assessment of the business's procedures, methods, and regulations is received through an internal audit. While surviving the cutthroat competition in Abu Dhabi, the business may try to adopt unique strategies to get ahead of others. In such a situation, internal audit firms like CDA can help these firms identify such opportunities.

• Improved decision-making

Organizations can make wise judgements by analysing the valuable data that internal audits provide. Firms in Abu Dhabi always adopt innovative strategies to face the competition, and in order to make such strategic innovations, they must make proper decisions; hence, through internal audit in Abu Dhabi, the firms can make such decisions easily.

• Creating an improved accounting system

Internal auditors conduct a thorough examination of the company's accounting information system. It implies that each transaction is validated. Accounting system being one of the core parts of the business in Abu Dhabi, should be done properly and in the most professionalised manner possible. Hence, with the help of internal auditors like CDA, firms can keep it updated and professionalized.

• Optimal Control

An internal audit enables the company in Abu Dhabi to maintain absolute control over organisational operations. As a result, the organisation is more effective and its accounting information is more authentic due to the internal audit it conducted.

Why should business firms in Abu Dhabi conduct internal audits?

Abu Dhabi is one of the emirates in UAE that is known as the "booming business hub," where most of the business firms have been engaged in the oil industry and manufacturing industry for a long time, which has resulted in cutthroat competition. Most of the firms are planning to expand their operations for a higher prospectus. Along with this, firms of all sizes, small and large MNCs in Abu Dhabi have to meet certain compliance requirements laid out by the apex authorities in Abu Dhabi and the UAE, like VAT regulations, AML-CFT laws etc. Internal auditors, such as CDA, play an important role in ensuring such compliance.Another reason why internal audits should be conducted by professionals like CDA is that, most investors look up to firms in Abu Dhabi rather than other states for making huge investments, and they always demand transparent information from the respected firms. Hence, internal audits by experts at CDA help to meet such requirements. Abu Dhabi is the emirate with the highest GDP as compared to other cities, and it is the safest place to conduct business. Also, the government has introduced certain policies like Abu Dhabi Vision 2030, which may boost business and competition. Along with that, it has a topography that connects Africa, Asia, and Europe together, resulting in hassle free business. Internal auditing is becoming increasingly important.

CDA - A Leading Internal Audit Service Provider in Abu Dhabi

At CDA, we leverage our experience in internal audits to become trusted business advisors. Our strategy as a leading auditing firm in Abu Dhabi is to collaborate with our clientele on the basis of respect and trust. We ensure that you reap the benefits of our service by customising it to your needs. 

Our team is composed of qualified internal audit experts who employ a methodological and systematic approach to comprehend your company's strategic plan and the factors that influence it. Our professional internal auditors identify problematic areas in your company and support you in setting up controls.

By standardising its processes to enhance control, CDA's interdisciplinary team can reinforce and boost an organization's internal audit expertise. Internal audit professionals at CDA, Abu Dhabi, create customised alternatives to enhance your company's strategic significance. Our Internal auditing services encompass the following:

 -- Assessment of internal controls, vulnerability analysis, and potential for advancement and efficiency.

 -- Review operations constructively while bearing your company's needs and vulnerabilities in mind.

 -- Detection and evaluation of vulnerabilities and suggestions to mitigate those risks.

 -- Review of standards and processes, particularly those which are interconnected with the IT systems.

 -- Identifying and making recommendations regarding opportunities to maximize revenue and cut costs.

 -- Ensuring that all operational procedures and regulatory requirements are being followed.

How CDA is different from other accounting and auditing firms in Abu-Dhabi?

CDA is different due to the unique strategic process that it undertakes to perform the internal audit, which includes the following:

Enhanced planning procedure

 As a part of enhanced planning, CDA always lays down the main objectives and the scope of the internal audit. It also studies the past audit reports of the firm and evaluates other findings to perform the planning procedure. The CDA also thoroughly researches the laws and regulations that must be followed in Abu Dhabi to ensure compliance formalities.

Professionalized fieldwork

CDA’s professionalized audit team conducts the fieldwork. In order to perform it in the most thorough manner possible, the team tries to communicate with other members of the company, such as employees from various departments, to gain in-depth knowledge about the procedures followed by the company.

Following transparent reporting

CDA is known for producing accurate reports with self-explanatory numbers, which assist the company in understanding the current situation and making the necessary changes, as well as providing suggestions based on the audit results.

Continuous follow-up

CDA always monitors the company’s procedures to ensure if they act according to the outcome depicted in the report and if they follow the suggestions provided in the report.