Liquidation begins when a company has to make a decision on winding up its business operations due to financial distress. It is a very sensitive phase that requires a lot of professional skills. At Farahat & Co., we render highly customized Liquidation Audit Services as per your company’s specifications. In our audit, the auditors look into the books in a manner that every minutest thing regarding all assets and liabilities is checked; all creditors and shareholders are treated fairly and equitably throughout the entire process of liquidation. The liquidation audit brings about proof of honesty on the final financial records of your business. We take this responsibility with the highest professionalism and ethics it deserves.
Our liquidation audit leaves no stone unturned when it thoroughly reviews and assures complete protection for all parties of interest. Be assured that this sensitive process shall be undertaken with complete diligence and transparency at Farahat & Co.
A liquidation audit is an essential audit of the financial records, assets, and liabilities of a company in the process of liquidation. A company ceases all its activities and disposes of all its assets to creditors and shareholders during liquidation. In this process, a liquidation audit is conducted to bring transparency, accuracy, and full compliance with the legal requirements during the liquidation process. At Farahat & Co., we offer outstanding liquidation audit services in the Emirates, designed according to the requirements of a business when it goes into liquidation.
The importance of a liquidation audit in the UAE is mostly due to:
In case a company goes into liquidation, an independent auditor is supposed to supervise the process of liquidation. The role an auditor plays in the company liquidation includes:
Among all, a liquidation audit report is the most important, and this is being asked by the authorities at the time of the liquidation of a company. It really comes in handy because it gives a very clear and transparent picture regarding the financial health of the company at the time of liquidation. Some of the most important components of the UAE liquidation audit report include:
Farahat & Co. is one of the leading audit firms in Dubai, engaged in all the necessary audit services to be conducted in the process of implementing the liquidation. Our independent auditors and business professionals ensure high levels of professional handling and diligence in the audit process. We prepare and submit reports for liquidations before the appropriate regulating body with a lot of diligence.
We are more than happy to provide a full liquidation service solution that includes document submissions for liquidation purposes, the cancellation of utility connections, obtaining clearances, the closure of bank accounts, no-liability certificates, audited financial statements, and final liquidation reports. We also undertake the business liquidation in Dubai, be it on the mainland, in the free zones, and offshore across the UAE.
Contact us now to find out more about our liquidation audits and how they can help you make sure you have a well thought out and navigated process.