+9714250025197142500251+     WhatsApp

What is the role of Internal Auditor in Finance?

Internal Audit

The basic role of the internal audit is the provision of independent assurance to the company regarding the management and other organizational controls. This is a very effective way of dealing with the functions that are taking place in the company.

There are hundreds of functions that keep on taking place in an organization. Looking into matters deeply and extracting what is good for the company and what is not easy. Also, to check whether the company’s operations are running in a legally acceptable way or not, the audit firms in Dubai are used. The auditors from the auditing companies in Dubai, UAE check and assure the companies that their operations are all being dealt in accordance with the rules and regulations and there are no major or minor risks affecting the company in any way.

Working of Internal Auditors

The auditors basically provide the company with an unbiased view about the practices of the companies. Their opinion is unbiased ad they evaluate all the operations that take place in a company. After evaluating the business functions, they report whether there are any risks in the company’s financial status or not.

The internal audit activities must be carried out with the help of skilled, professional and qualified auditors in UAE. This will enhance the security and effectiveness of the data. Also, the auditors should be able to work right according to the rules and regulations of an ethical society while keeping up to the ark the international standards of audit


Working of Auditing firms in Dubai, Abu Dhabi, Sharjah

Auditors in Dubai from top auditing firms in UAE are experts who review the accounts of businesses and organizations to confirm the validity & legality of their financial records. They can also act in an advisory role to recommend possible risk aversion measures and cost saving that could be made.

The auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud.

There is several activities in which the auditing firms in DAFZA, JAFZA, Abu Dhabi, and  Saif zone help. These activities include;
  1. Risk management assessment - The internal auditors assess the management of risk in the company
  2. Assessing Internal controls - They assess whether the company has better plans for improving their state in the long run or not
  3. Control evaluation - They advise the managers at all levels so that the controls can be evaluated
  4. Operation analysis - They analyze the operations and check whether everything is running in its own plain or not

This is not all. There is so much more that is assessed and analyzed by the auditors. Their assurance audit and assurance services help the companies in becoming better every other day.

Learn more - 5 Tips to Avoid Internal Audit Mistakes

What is the value of an audit in the organization?

The internal auditors deal with those issues that are of prime importance for the companies and their survival. Without proper functioning of these functions, the companies would not be able to succeed in such a competitive world. This is not what the external auditors do. The internal auditors rather look deeply into the company functions and assess them they look beyond the risks and look deeply into the growth, reputation and other such wider functions.

The internal auditors are valued to a greater extent because they know what is better for your company and what can make your company better than before. What they do for companies is remarkable. They tell the companies about their pitfalls which let the companies become better than they were before. They look into all the matter from the root level so that they can analyze everything and share their experience.

As a whole, the internal auditors in Dubai help the organizations in succeeding efficiently.

Find more Info about audit reports: 4 TYPES OF AUDIT REPORT THAT YOU NEED TO KNOW

Importance of Internal Audits

Internal audits are important because they identify the risks after evaluating the company and highlight those points that can make the company better in the future.  The internal auditors demonstrate how the company can manage all of its functions effectively.

All the companies should hire their internal auditors in UAE so that they can come out to be outstanding during the external audits. This will surely add to the reputation of companies like never before.

Find out - Certified Internal Auditor: How Can They Help?

Top audit firm in Dubai

For flawless services in UAE, all you need is Farahat and Co. one of the top audit firms in Dubai, they have the best range of auditors who know all the rules and regulations that should be kept in mind while carrying out the audit. This is not all about them. There is so much more they offer you. Their international services along with skilled and qualified auditors are something that cannot be explained in words. They will never seize t satisfy you with their services at any cost.

If you want to succeed in your company and run it efficiently, you should hire audit firm in Dubai. All of their services are provided to the people with a combination of both assurance and consulting services. In the part of assurance, the managers and the governors are told about how well their business is running whereas, in case of a consultation, the companies are told what they can do in order to make their business systems and processes better.

Jose’s entire educational and professional career has circled around audit and assurance. While in India, he became a CPA and worked as an accountant and an auditor. Afterwards, he relocated to Dubai, where he joined Farahat & Co. as an auditor. He is currently assisting UAE mainland and free zone businesses with their compliance needs. With a reputation for proficiency, quality, and reliability, clients refer to Mr. Jose for independent assessments of organizations structures and operations.