SERVICES

Audit & Assurance

In search of dependable auditing services in Dubai?

Ethics Plus is a leading mid-sized audit firm in UAE with offices in Dubai and Sharjah and has been
a trusted auditing services advisor to businesses in the region for over two decades.

Receive trusted services from a leading audit firm in UAE

As one of the most dependable audit firms in Dubai, we have vast experience in providing a range of statutory and internal auditing services as well as governance, risk, and compliance support services. The services provided by our auditing company in Dubai are focused, quality-oriented, and conducted with the utmost diligence and professionalism. Our auditors in UAE look beyond the numbers to interpret financial and operational data to identify potential problems, recommend and implement solutions and participate in long-term planning and decision making.

Financial Statement Audit

Financial or statutory auditing services comprise an independent auditor examining an organization’s financial statements and accompanying disclosures, which results in the auditor attesting to the fairness of the material presented. An audit of financial statements is integral to verify a company’s accounting records and business controls, and its fundamental objective is to provide an independent assurance that the management has its financial statements in place and to present a ‘true and fair’ view of a company’s financial position.

As an experienced audit firm in Abu Dhabi, we recognize that to deliver an effective financial statement audit, it is imperative that we look beyond just the accounting entries and dig deeper into the underlying business activities.

More than a historical review, an effective audit process can be a powerful tool for a positive change. We advise you on the consistency and reliability of your financial information and provide you with recommendations for improving profitability as part of our auditing services. The professionally trained audit team at our audit firm in Sharjah is armed with an in-depth understanding of your business and your industry and will use state-of-the-art audit techniques to assess risks and focus its work on the key areas of your financial statements. Further, we are DIFC and DMCC-approved auditors with a wide range of clientele across sectors.

The knowledge that we build through our auditing services in Dubai is in turn used by us to advise you on how to improve your business.

The key steps in a financial statement audit are:

  • Planning and risk assessment
  • Audit strategy formulation
  • Collection of evidence (referred to as fieldwork that is usually carried out through two means of audit testing: substantive testing and controls testing)
  • Review and preparation of a draft report
  • Finalization and completion

Audit Review Services

A review is conducted when a lower degree of assurance than an audit is acceptable. Additionally, in order to reduce your risk of internal fraud, internal control reviews are critical. As part of our audit service UAE, we review financial statements by conducting several analytical procedures such as ratio analysis, comparison of your operating statistics to prior periods or industry averages, as well as other financial analyses deemed appropriate.

Agreed Upon Procedures

Our auditing services in Dubai are often requested for specific areas of the financial statement without conducting a ‘complete scope’ financial audit. This often results in cost savings, and the scope of the audit can be tailored to the client’s specific objectives. However, the nature, timing, and extent of the procedures agreed upon might vary based on the requirement – usually, clients assume responsibility for the sufficiency of the procedures based on their needs. For this type of audit, we would report factual findings and not provide any opinion or assurances in the final report of the audit service.

Internal Audit in Dubai

Our audit firm has substantial experience in providing an internal audit in Dubai to organizations across all industries and of varying sizes. Our risk-based approach to internal audit transforms a traditionally tactile and reactive function to a more strategic one that impacts financial effectiveness & regulatory compliance, drives operational excellence and pro-actively manages risk.

We deliver internal audits that are risk-based, industry-specific and customized to the company’s operational size and structure. As part of our internal audit in Dubai, we focus on first understanding the business and risks involved and concentrate our efforts on where they matter the most. Our risk advisory consultants have multi-industry exposure and specialized skill sets. They focus on creating sound internal controls while remaining committed to achieving tangible results.

Why should you engage with us?

  • We provide professional quality-oriented auditing services in Dubai and across UAE.
  • We are an audit firm with more than 20 years of experience in Dubai and all over the UAE market.
  • Our audited financials are widely accepted by all major banks.
  • Our team consists of highly skilled audit professionals (CAs, CPAs, ACCAs, CIAs, etc.) with many years of industry experience and advanced certifications in the industry.
  • We are known for our ethical approach and sound values.

We are a DMCC-approved audit firm with a wide variety of clientele. We are also listed in major free zones such as DIFC, JAFZA and DAFZA, among others.

What is the main purpose of an audit?

The main purpose of an audit is to provide an independent opinion on the financial statements of an organization. This opinion can be used by shareholders and other interested parties to make informed decisions about the organization. An audit also provides assurance that the financial statements are free from material misstatement, whether due to fraud or error.

What is the audit process?

The audit process typically involves four main steps: planning, fieldwork, reporting, and follow-up.

  1. Planning: The auditor develops an audit plan that outlines the scope and objectives of the audit. The plan is based on the auditor’s understanding of the client’s business and risks involved.
  2. Fieldwork: The auditor performs tests and procedures to obtain evidence about the financial statements. This work is performed at the client’s premises and may involve interviews, observation, and inspection of documents and records.
  3. Reporting: The auditor prepares a report that describes the audit results. The report includes the auditor’s opinion on the financial statements and any recommendations for improvement.
  4. Follow-up: The auditor follows up on the recommendations included in the report to ensure that they are implemented.

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    Audit & Assurance is an evaluation of an organization, its system and processes and testing them based on statistical samplings. It is done to ascertain the validity and reliability of financial information and provide an assessment of a system’s internal control. An audit conducted by any one of the dependable audit firms in Dubai seeks to provide only reasonable assurance that the statements are free from material error. A set of financial statements are said to be true and fair when they are free from material misstatements.

    Auditing services in Dubai are much more than a formality; they are a real necessity to protect businesses and encourage them to thrive. It is crucial to engage an Audit & Assurance Service to review the company’s financial status, system processes, and internal controls in order to assess the effectiveness and efficiency of these components. It would also increase accountability and transparency.

    Not at all, it is our endeavour to make the process as hassle-free as possible. Audits are usually divided into 3 phases. First comes the proposal submission and approval, where the audit firm would submit a proposal based on an initial review of the financial information of the company. Then, the auditor would embark on fieldwork to obtain necessary documents and financial statements from the management. The third phase includes the compilation, review and submission of the final auditor’s report to the management.

    You may find us at:

    Suite No. 108 & 109, Mezzanine floor, Al Diyafah Shopping Center, 2nd December Street, Al Bada’a, Dubai.