Why is there a need for the best audit firm to audit the financial statements in UAE?


 

Audit of Books of Accounts is compulsory for all the companies that are incorporated in the Mainland of UAE. As per the laws & regulations by the respective free-zone authority, Companies that are situated in all Free zones also need to get their Books of Accounts Audited. It is compulsory for Free zone Companies (FZCO) & Free zone Establishments (FZE). For the renewal of the company’s license, Free zone Authorities like DAFZA, DWC, JAFZA, Creative City Fujairah & DSO have made it mandatory to submit their audit reports. Auditing of books of accounts needs to be properly maintained to conduct a thorough, proper & comprehensive. As per the UAE Commercial Companies Law, all the companies in UAE are required to maintain the books of audit for at least 5 years.

 Accounting and Auditing firms in Dubai help these companies to maintain the books of auditing and accounting properly. Tgs Koya an auditing firm is also known as one of the best Auditors in Dubai.

Any business or commercial house needs the service of a qualified auditor, a best-chartered accountant, or an audit firm in order to audit their financial statements.

Following are the reasons to hire the best audit firm to audit the financial statements in UAE:

•     To control and encourage best industry practices.

•     To ensure timely all the policies & regulations.

•     To review IT projects, technology, and systems.

•     To provide an objective.

•     To assess efficient use of resources.

•     To identify potential cost savings.

•     To assist management in addressing complex, cross-functional issues.

•     To stick to statutory compliances.

•     To identify operational waste and inefficiencies.

•     To determine how proper Internal Controls are in the Organization. Hence, Tgs Koya is one of the best accounting and auditing firms that offers end-to-end customized solutions for Bookkeeping – Accountancy, Tax Compliance & Advisory Auditing services in Dubai.

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