Recently UAE government has launched Fourth Industrial Revolution (4IR) strategy which aims to strengthen the country’s position as a global hub for Fourth Industrial Revolution and to increase its contribution to GDP through advanced innovation and future technologies. It also aims to position the UAE as a global model in adopting leading-edge technologies to serve society and achieve happiness and sustainability. As part of this project, the country aims to build 500 national companies equipped with the technologies of the 4IR strategy.
This is a key point in attracting and creating investments and a business environment for technologically advanced businesses setting up all over the country. With the latest development in the business opportunities for digital companies, the government has made its regulatory system intact to ensure faultless business operations through the annual financial audit.
The 21st century has marked the globe as Information technology-driven with UAE’s recent promotions for IT sectors that have paved the way for global attractions. Information Technology not only contributes to the GDP of the country but it will also make governance more competent and approachable. IT industry is soon going to be the backbone for every country’s economy. An improved technological advancement surely contributes to a better socio-economic status.
Since the financial reports of this industry is compared to the national economy it is very necessary to find the competent auditors to submit valid, authentic, standardized, and accurate audit report that comply with the auditing standards and ensure the organizational operations are in line with regulations of regulatory authorities.
Our accredited auditors accustomed with the national regulatory policies and auditing standards make sure to submit the validated and accurate Financial reports for better organizational performance. With wide industrial experience, we are always up for every change and we are always equipped for a dynamic sector like technology. As we know the importance each industry’s for its contribution to the country’s economy we perform our audits with utmost quality and precision. We perform the audits with great care and diligence, thriving to go an extra mile safeguarding the trust and expectations from the stakeholders involved in each engagement. We will always be ready to share the details of the excellent credentials that we own which is again evident from our growing customer base all across the UAE.
There are five auditing procedures used by auditors in obtaining audit evidence and are Analytical review, inquiry, observation, inspection, and recalculation.
Test control is described as any auditing procedure used to evaluate an organization’s internal controls. It is carried to determine gaps to prevent future risks.
An interim audit is preliminary audit work that is conducted before the fiscal year-end of a client. The interim audit tasks are conducted to compress the period needed to complete the final audit.
The complete audit is an audit of both financial statements and documents underlying them which means a complete audit will look not only into financial statements but also the documents used in creating those statements.
Audit in-depth means examining transactions in detail that is from the starting point of the transaction to the end of the transaction. This audit technique is used to evaluate the effectiveness of the internal control procedures
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