DMCC Approved Auditors | Best Auditors In Dubai


 

What is the method of Tax Audit?

The best audit firms in Dubai follows the following mentioned steps while proceeding towards the Tax Audit process:

1. Notice of Tax Audit is obtained

The auditor first needs to obtain pre-written consent from the concerned authority. FTA will then issue another permit for the auditor for  entering the premise where the Audit process needs to be conducted, which might include information regarding the premise, date, and time of Audit

2. Commencement of Tax Audit

As per the rules and regulations, the tax auditor would review the financial books of the corporate. During the auditing, the auditor can request certain copies of the business records which need to be audited. The important point here is that the law provides the business to look at the credentials of an auditor.

3. Completion of Tax Audit

The audit process is performed during the working days and the working hours and a report is submitted after the audit is completed a thorough inspection of the activities performed.

4. Audit Results Gets Drafted

Once the audit is completed, the relevant suggestions are drafted and recorded accordingly. This report contains observations, penalties, and audit ranking.

It’ll also provide a set of guidelines for the business premise to figure and take the necessary steps accordingly. The Authority has complete power and the right to decide if they want to conduct the re-audit process for the business entity.

Auditing firms in Dubai provides professional services like Vat consultancy and Accounting.


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