Internal Audit services in Dubai

Internal Auditing in Dubai

Dubai has experienced significant growth over the last decade, with establishments expanding and diversifying rapidly. In Dubai's fast-paced business environment, failure to effectively assess and manage risks may negatively impact an organization's growth. The importance of tracking, maintaining, and improving operational efficiency has never been greater. CDA's internal audit services in Dubai combines cutting-edge internal audit solutions with the best consultancy for shaping a company's future.

At CDA, our team of internal auditors provide extensive internal audit services in Dubai to ensure that your business runs smoothly. Our objectives include identifying deadlocks, mitigating factors to overcome risks, and helping the organization achieve its goals. Our internal auditors in Dubai offer customizable services that add value to your business by improving its operations. Effective internal auditing helps the business improve its operational efficiency by providing the necessary tools and strategies. It assists in identifying problems and lapses and simultaneously works to eliminate them while ensuring that legal requirements are adhered to. Additionally, it ensures that financial reporting is accurate and assets are protected.

Significance of Internal audit in Dubai

Internal audit plays an insignificant role in Dubai, where businesses keep on growing and prospering due to its business-friendly policies. Dubai is known around the world as a business hub where investors come from all over the world and all entities compete to succeed. In such a situation, internal audit services help the firms ensure they stay on the same page as per their plan. Internal auditing provides them with the insight to determine if they are moving in the correct direction or not, as per their policies. Through conducting internal audits, the firms in Dubai can ensure that they follow the VAT laws, file the returns on time, detect any fraudulent activities, and follow the accounting standards like IFRS, IAS, GAAP, etc. It can also help them check the accuracy of the accounting records and take corrective action if any discrepancies are found. Hence, CDA has been providing audit services with the help of its professional team to tackle all the challenges in advance for more than a decade. Increase operational efficiency with CDA's professional internal audit services in Dubai. 

CDA's internal audit services in Dubai, help you secure assets, maintain reputation, and ensure smooth operations for your business. Reporting accuracy, risk evaluation, monitoring, and access controls are some of our experts' services. Further, we offer independent insights and advice to senior management, investigate fraudulent activities, and ensure safeguards are in place to prevent their recurrence.

Hiring CDA for Internal Auditing in Dubai

Under the Commercial Companies Federal Law, No. 32 of 2021, Ch 2 Article 27 - All Companies in the mainland are required to have their financial accounts audited. These companies are also required to keep their financial records for at least five years. 

Complying with this and a slew of other laws can be a difficult task for your business. Apart from being compelled by law, internal auditing acts as a measure for future business improvements and credibility.

CDA offers the most professional service that follows all these laws and keeps your accounts error-free. CDA's internal audit services in Dubai support both co-sourcing and outsourced auditing models to help you run your business smoothly.

Co-sourced Internal Audits 

The most popular model of internal auditing in Dubai, UAE, is typically co-sourced. It assists internal audit managers in improving audit quality and scope, reducing costs, and improving company risk and control management.

Outsourcing Internal Audits 

Our certified team will handle all of your internal audit advisory services from start to finish. Our team will assist you in reducing business risks, managing compliance, and implementing successful strategies.

Redefine Financial Success with Our Constructive Internal Audit Service

We provide internal auditors' resources, proprietary processes, and personalized tools to help you reach your success goals. A thorough business analysis is the first step in the internal audit process. This is followed by the development of a strategy aligned with the goals you have for your business. CDA provides the following services in Internal Audit:

-- Examining all key structures and activities.

-- Develop an improvement plan for each department.

-- Providing corporate governance assistance to management.

-- Taking corrective action promptly and following procedures.

-- Keeping the system effective to meet the organization's goals.

-- Identifying internal risks and fraud.

-- Ascertain whether the system complies with management and customer requirements.

Why Choose CDA as Your Internal Auditor in Dubai?

Our internal auditors in Dubai assists business in developing a potential internal audit process in accordance with regulatory and internal audit compliance. The following are some of the essential internal audit services offered by CDA in Dubai:

Risk Calculation

CDA internal audits provide risk management and assess the efficacy of many different parts of the business. Business in Dubai has grown increasingly active in today's world of globalization and technological breakthroughs, and it is vulnerable to different operational, technological, financial, legal, and compliance concerns. Internal audits conducted by CDA identify important risks and offer solutions to mitigate or transfer such risks. The auditors assess the organization's risk management processes to ensure they are working properly.

Controlling and Evaluation

A systemic risk assessment is desired by management and stakeholders to safeguard a controlled environment. Using CDA's internal auditing services, the auditors can assist you in identifying issues within your organization and financial statements. Our internal auditors can detect and close any gaps in the internal control system, lowering the risk of fraud and improving control over every department inside the organization. They can also advise organizations on how to improve the weaknesses in the accounting system.

Keep A Check on The Rules

Depending on the industry, you may be required to adhere to a set of regulations or laws. Internal auditors of the CDA are your allies in guaranteeing your organization's compliance with laws and regulations.

Our internal auditors in Dubai will assist you in keeping up with these crucial regulatory obligations, understanding how they affect your operations, and ensuring ongoing compliance.

Whistle Blowing Cases

CDA's Dubai-based internal auditors can provide significant value to your organization as they can help you in whistleblower instances. They are specialists in industry standards, corporate regulations, and industry norms, which makes them your best ally in whistleblower cases.

Our internal auditors can obtain information to evaluate potential internal infractions since they are thoroughly aware of the organization's structure. 

Ensures Adherence to Laws and Regulations

Internal audits performed by CDA examine the laws, regulations, and industry standards with which your firm must comply and evaluate whether you are, in fact, compliant. If non-compliance is detected, we will be able to generate legal documentation with the assistance of daily internal audits. Where you fall short, auditors will offer advice on how to rectify the issue.

Cyber Security

Cybersecurity is a significant concern for businesses in Dubai. The CDA's internal audit team inspects the cyber security environments and counts all digital devices to determine if they are secured in accordance with the standards. Additionally, they examine the vulnerability of digital systems and networks.

Maintain Financial Records

The CDA's internal auditor in Dubai reviews account balances to see if financial statements comply with accounting standards and regulatory requirements. In addition, they examine account balances to determine the status of financial reporting. A comprehensive report should contain a cash flow statement, balance sheet, profit and loss account, and statement of stockholders' equity. These details are analyzed by CDA's team of internal audit in Dubai to determine whether the report has any substantial inaccuracies.

Contact us for professional internal audit services in Dubai!