contacts Sign In

image

Audit firms in dubai

Best auditors in dubai

Be the first one to rate! Submit Review

Checkout Audit firms in dubai Watch Video

HALLMARK INTERNATIONAL AUDITORS

We have a team of experienced consultants who can advice you on any financial matters

and being one of the best Auditing Services in Dubai with top auditors in UAE provide services like Internal Audit, External Audit, Accounting, VAT, Tax Agent, ESR, Internal Control Systems, Financial Restructuring, Feasibility Studies, Due Diligence, Business Plans.

External Auditing

It is a myth that the auditing of a company needs to be done only because it is mandatory by law. Regular auditing and maintenance of accounts have a greater contribution towards the successful running of a business. The lack of proper books of accounts and regular auditing often results in the business owners continuing to run the venture with the impression that it is going on profitably, while it is running under loss. The realization comes late and the resultant damages are often irreplaceable. This is where; a pragmatic approach to external auditing services in Dubai becomes inevitable. Every business needs the services of professionally qualified and experienced external auditors in Dubai to look into their accounting issues.

What is external auditing?

  • External auditing is the process of ensuring that the financial records and operations of a business firm are accurate by employing the services of an external auditor. External auditors are accountants who work independently of an auditing firm. External auditors are necessary for all businesses to remain compliant with the laws of the government of the UAE. It can help to sort current or impending issues, if any, and confirm the financial claims of the organization to be true.

What are the benefits of external auditing?

  • Ensuring compliance with government laws
    • The government of the UAE has stringent laws for the financial operations of the small, medium, and large scale businesses. Thus if you are running any business in the UAE, you might need the services of external auditors who can perform yearly audits that are a prerequisite for your annual trade license renewal. Since the government of UAE has introduced VAT tax from 2018 onwards, proper accounting and auditing ensure compliance to laws avoiding the chances for unnecessary legal issues.
  • Enhances financial credibility
    • The best auditors in Dubai are at your service to evaluate the financial transactions of your company and ensure that they are accurate and compliant with the laws of the country. A valid audit report by a certified professional auditor is essential when you apply for loans and financial assistance from banks to establish credibility. So, hire the top auditors in Dubai to leave you devoid of worries in the future.
  • Ensuring the accuracy of financial information
    • Your in-house accountant provides regular financial information that needs to be verified by a professionally certified auditor to help you analyze the current status of your business, whether it is profitable or running under loss, what changes need to be made in the current functioning and so on.
  • Prevention of fraud and malpractices
    • It often happens that fraudsters exist within your company and their antics most often go unnoticed. By the time it gets noticed, it is too late and will have caused irreplaceable losses to your company. Thus employing the external auditing services can help you track any fraud or financial malpractices going on. Regular inspection by an auditor can keep your financial statements transparent and smooth.
  • The need for expertise
    • It may not be feasible for all companies to hire a full-time auditor. Thus most firms here, look for external auditing services. Such auditors can verify your financial statements at regular intervals to ensure compliance and find out flaws if any. They can also suggest making changes in the functioning to improve upon the pitfalls by increasing cash flow, reducing interests, depreciating assets, and so on. They can help in the overall optimization of profit.

Who will be benefitted from external auditing?

  • Business owners and shareholders
    • Business owners cannot keep an eye on all matters concerning the business. It is advisable to opt for the best auditors to keep a check on the financial statements of your business. They can ensure that it is running smoothly and profitably. They can also analyze pitfalls and suggest changes. It also helps the business owners to keep the trust of shareholders by sending them regular financial reports verified by a certified auditor in Dubai.
  • Accounting and finance team
    • It is the accountants and the members of the financial team who are responsible for the day to day financial operations of the company. Even though they are well-versed in dealing with general financial issues, they must take guidance from the best auditors to verify the account statements they have published, to help them deal with complex issues, to aid in financial assistance from banks and to keep them up to date about the new rules and regulations put forward by the government of UAE. Most firms have their chief accountant and the rest of the accounting team work hand-in-hand with an external auditor to solve issues on the go.

Conclusion

It is inevitable for every business in Dubai to hire an external auditor. We, at Hallmark International– Auditors and Accountants are top auditing services in Dubai established firm providing impeccable auditing services to ensure the seamless operations and profitability of your business. With a long-standing history of offering the best auditing services, we are the most sought after auditing firm by ventures from all sectors and industries.

Why Hallmark?

  1. The best auditors on board

At Hallmark International, we have only the very best. Professional chartered accountants, chartered certified accountants, certified public accountants, and all professionals necessary for financial audits in Dubai work for Hallmark offering their dedicated services to our clients.

  1. Long-standing industry experience

Finance is a sector where experience is crucial. With decades of experience in accounting and auditing in Dubai, you can trust us with your venture completely.

  1. Affordable costs

We, at Hallmark International, ensure that our auditing services in Dubai do not burn a hole in your pockets and are affordable to even small businesses.

  1. Compliance with international standards

With a consistent clientele based in both the UAE and the UK, we follow global accounting standards.

Internal Auditing

Internal auditing is an independent process, objective assurance, and consulting activity designed to add value to the organization’s operations. It is a holistic activity as it brings a systematic and disciplined approach to the company’s operations. IA improves the complete health of the organization, the effectiveness of risk management, control, and governance processes.

Since internal auditing is an impartial process, it is best to look for the most transparent Internal Audit Firms in UAE.

Scope of Internal Auditing

Our Internal Auditing services in UAE encompasses potential organization’s governance, risk management, and control process. Furthermore, an internal audit helps the organization in –

  • Analyzing the risk involved and securing assets
  • Reliability of financial and management reporting
  • Facilitating authorities in the assessment of internal functions
  • Accomplishing organizational objectives by steadily monitoring the company’s operations.
  • Operating in line with laws and regulations
  • Evaluating process performance and managing risk effectively
  • Providing insights/ suggestions for improvement and elevating the performance.
  • Sufficing the business requirements and ensuring the meticulous functioning of the firm
  • Planning Phase

    Internal Auditing process starts with the planning phase. A meeting is scheduled with the prime organization contact for the audit to discuss the audit process, scope, objectives, risk factors and so on. In this phase, the clientele elucidates the requirements and other details to the auditor. All the details are documented and planned to proceed further.

    Fieldwork Phase

    This phase follows the steps identified in the planning phase, such as conducting interviews, reviewing law policies, best practices, and verifying sample transactions. The internal auditor performs transaction testing on the information obtained about the company’s operations. Testing validates the functioning of controls discerned during the preliminary review to be working accordingly.

    The system is analyzed and evaluated for any risks. The auditor discusses the significant findings during this phase with the customer for appraisal. Both client and the auditor will have a steady contact throughout this phase.

    Reporting Phase

    Internal Auditors prepare a draft audit report after the fieldwork phase. The draft report comprising findings, opinions, and recommendations, is reviewed by the clientele. The audit customer studies the report and shares insights, corrective plans, or other modifications along with a timeline for working on the updates. All these responses are recorded in the end and presented to the respective officials.

    Follow-up Phase

    A follow-up is done by the auditor to confirm whether the recommendations have been executed as intended. Unimplemented plans are reported annually to the higher authority.

    Advantages of Internal Auditing in Dubai

    • Helps to establish effective management in the organization by improving the performance and in-line control of operations.
    • This is a continuous review system that helps in recognizing and rectifying any errors in the company.
    • It helps to identify risks through a systematic risk assessment and conceals the gap in the business.
    • Enhances the performance of employees in the organization as any mistakes committed is immediately revised.
    • Acts as an efficient tool for optimum utilization of resources and cost minimization.
    • Makes the final auditing process easier by correcting errors and frauds found in the books of accounts (if any).

    Significance of hiring Internal Auditors in Dubai

    The Internal Auditing Services should be unbiasedly carried out by an impartial internal auditor. Therefore it is always preferable to go for an independent auditor/firm providing internal auditing services. Internal auditors are responsible for evaluating and managing the risk involved by analyzing the information obtained about a firm’s controls.

    The auditor ensures the smooth functioning and strengthening of the firm. Any fraud within the organization is easily detected as internal auditing is a continuous process, conducted within small intervals throughout the year.

    INVESTIGATIVE AUDIT

     

    Investigative Audit also known as Forensic Audit is a dual disciplinary approach which includes extensive know-how in accountancy and investigation seeking fraudulent activities and finding missing money.

    Hiring a third party auditor like Hallmark Auditors comes with multiple pros

    • We specialize in such auditing so we know what to look for and where.
    • We have no personal or professional relationship with the employees. Hence, the findings will be unbiased.
    • For an error-free and just auditing, you need to hire experts and often such audit leads to criminal prosecution in case of fraud findings.
    • Not only this can be a damage control activity but also we can help you find loopholes in your existing system.

    BUSINESS PLAN & FEASIBILITY STUDIES

     

    Hallmark Auditors is the part of your business even before you start the business. With extensive experience of working with different industry and clients, we help you build a Business Plan for your investments and relieve you from the stress of rigorous Market Research.

    With our involvement, you get your requirements like Market Analysis, Demographic Study & Feasibility Report as per your requirement.

    Hallmark do various feasibility studies and derive various financial ratios for you to acquire capital and make wise investment decisions with the results.

    BUSINESS VALUATION

     

    Business Valuation Services

    Business valuation is a complex task when it comes to ascertaining the value of a different entity for mergers & acquisitions and different business restructuring process.

    We, Hallmark Auditors have an extensive experience in cross-cultural, multi-national business alliances.We support you right from initiation of dialogues, setting strategic goals, documentation, valuation and finalization of the deal.

    We help you by:

    • Valuation of all the tangible and intangible resources of the organization
    • Present day business & Market standing
    • Analysis of system, finance & administrative operations
    • Pointing of market threats and loss areas
    • Evaluation of potential strengths and opportunities
    • Assistance with funding the acquisition
    • Transition process and review

    DUE DILIGENCE AUDIT

     

    Considering the concept of Auditing, it stays in forefront of finance. Looking into the explanation of the actual meaning of auditing, it deals with the review or analysis, of a processor quality system, to ensure compliance with requirements. An audit can apply to an entire organization or might be specific to a function, process, or production step. Hallmark International is considered to be one of the best auditors in Dubai.

    Basically, there are three separate kinds of audits: product (which includes services), process, and system. As an experienced firm in auditing services, Hallmark International Auditors provides all the three types of services in auditing. Auditing helps in rechecking the performance of the company as well as the efficiency of the particular department. Apart from the basic three types of auditing, there can be another classification such as internal or external, subject to the interrelationships among accomplices. Internal audits are performed by employees within the organization and the outdoor audits are performed by an outside agent or an auditing firm. Other types of audits include: Product audit (An inspection of a particular product or service), Process audit (An authentication that checks on the sequences working),first-party audit deals within an organization to measure its strengths and flaws against its own actions or approaches and/or against external standards adopted by (voluntary) or imposed on the organization, a second-party audit is an outside audit performed on a contractor by a customer or by a constricted organization on behalf of a customer and a third-party audit is performed by an audit organization independent of the customer-supplier relationship and is free of any conflict of notice. Independence of the audit organization is a key component of a third-party audit. Third-party audits may result in the documentation, registration, recognition, an award, license approval, a citation, a fine, or a penalty issued by the third-party organization or an interested party

    Due diligence audit is an audit that is done before making an investment or getting into contract to check whether or not is the investment worth your time and money. People hire professional auditors for this task as it could require special knowledge of the appraised industry and other expert knowledge.

    This is normally carried out in the scenarios of merger, acquisition, and privatization or before getting into a contract or an agreement with another party.

    The other party shall provide audited financial statements and copies of bank statements for the business checking, savings and investment accounts for the past three years. You’ll also want copies of vendor and supplier contracts, the accounts receivable, an accounts receivable aging spreadsheet and accounts written off as uncollectable. Get copies of all income tax records for the past seven years to be sure there are no outstanding taxes. This makes due diligence a complex process.

    Due diligence is not limited to financial health but extends to areas like:

    • Production due diligence audit
    • Marketing due diligence audit
    • Management due diligence audit
    • Industry environment due diligence audit
    • Information Systems due diligence audit
    • Reconciliation due diligence audit
    • Legal/environment due diligence audit
    • Compatibility due diligence audit

    You would want experts like Hallmark Auditors to help you make the best investment decision and we make sure you never go wrong when we are with you.

Rate us and Write a Review

Browse

Your review is recommended to be at least 140 characters long

image

Show all timings
  • Monday09:00 AM - 05:00 PM
  • Tuesday09:00 AM - 05:00 PM
  • Wednesday09:00 AM - 05:00 PM
  • Thursday09:00 AM - 05:00 PM
  • Friday09:00 AM - 05:00 PM
image
info6217

imageYour request has been submitted successfully.

building Own or work here? Claim Now! Claim Now!

Claiming your business Listing

Claim request is processed after verification..

image

Archives

Categories

image