Accounting & Auditing Services In Dubai, UAE

Accounting & Auditing Services

Accounting and auditing in Dubai, UAE is crucial to making strategic decisions for any company, be it a startup or an established company.

Accounting is the process of recording all of a company’s finances. An accountant keeps and inspects the company’s financial records, offers suggestions and recommendations based on the company’s financial situation, and offers guidance to the company to help them make reasonable financial decisions.

On the other hand, auditing is the process of evaluating and ascertaining a company’s financial, operating, and business goals.
An auditor ensures that the running of the company complies with the company’s principles and conforms with institutional and regulatory requirements.

An audit denotes the evaluation of the financial matters of a company or business establishment. An audit ensures accurate financial statements of the company. These financial statements must denote the monetary transactions of the company. An auditor examines accounts and accounting records, compares the charges with the vouchers, and verifies balance sheets before clearly stating the results.

The process of auditing can either be successfully done internally by the employees of the company (internal auditing) or externally by an officially recognized external agency (external auditing). Getting professional and expert accounting and auditing services opens the company to professional services, important information of all the regulatory laws, standards, and requirements of company formation in Dubai, UAE. Vigor Business Setup and Company formation Services accounting and auditing services are here to help your company with that.

Types Of Auditing In Dubai, UAE

Internal auditing in Dubai, UAE

This type of auditing is done internally by the employees of the company. It provides objective and independent assurance that a company’s risk management, operations, organization, and internal control processes are operating effectively.
It is designed to add value to a company’s operations. It aids an organization to accomplish its goals by bringing a structured and disciplined approach to gauge and improve the productiveness of risk management, governance processes, and control.

Auditing helps to recognize threats to the company and bring them under control. It discovers opportunities for the company and takes advantage of them. It ensures favorable utilization of the resources of the company.

What Are The Benefits Of An Internal Audit?

Accounting and Auditing Services

External Auditing In Dubai

An external audit also called the statutory financial audit aims to check and verify the accuracy of statements and the company records. It is carried out by an officially recognized external agency. An external auditor helps to ascertain that the company’s financial records are in accordance with Dubai’s regulatory laws on accounting standards.

Regular external auditing allows a company to successfully maintain financial records and contribute immensely to the successful running of the company.

What Are The Benefits Of External Audit?

A credible audit report by an officially recognized auditing service comes in handy when you need to apply for loans and financial assistance for your company. It builds trust in your company and makes your company reliable.
A top-tier external auditing service informs you about all the laws regulating company operations in Dubai. The government of UAE introduced Value Added Tax (VAT), on goods and services in 2018. This means that proper accounting and auditing are needed to ensure total obedience to the regulatory laws in order to avoid legal issues.
Employing the service of an external auditor helps to produce transparent financial transactions and records. The officially recognized auditor helps you to analyze the situation of your company, offers the right recommendations and suggestions that help implement necessary changes.
Employing the service of an external auditor can assist with tracking anything fraudulent or any financial malpractices going on in your company.

VAT Services In Dubai

A Value Added Tax in Dubai, UAE is a consumption tax put on a product, whenever value is increased at every stage of the product’s supply chain. It was introduced in Dubai, UAE on the first day of January 2018. The rate of VAT in Dubai is 5.00% and it is a new source of income that will be implemented to provide impeccable public services.

Some Documents Needed For VAT Registration In Dubai Are:

  • A company’s Trade License
  • Original passport copies of the company owner and shareholders.
  • A document containing information about the company’s bank account
  • A document containing the company’s financial records for at least 1 year.
  • A document containing information about the business operation of the company.

Vigor Business Setup & Company Formation Services, Your One Stop Solution For Account And Financial Services In Dubai, UAE.

We are an audit and accounting company in Dubai, UAE. We are capable of offering auditing services to ensure a hassle-free operation of your company. We provide effective financial strategies for the successful run of your company. Our team of well-trained financial experts, arm you with factual data about your company by studying the in-depth analysis of your company’s operational data and financial systems.

Vigor Business Setup and Company formation Services is a top audit firm in Dubai, UAE that will work hand in hand with you to help lower the administrative load and monetary expenses incurred over time. Through our carefully thought out mode of operation, we handle the accounting aspect of your business. This gives you the space and time required for you to concentrate on the fundamental aspects of your business. We are professional auditors in Dubai, that listen to you, study your business/ company, and offer impeccable accounting and auditing services to your company.

We offer the best VAT consultancy services in Dubai and ensure that you are fully informed while providing VAT consultancy services that ensure the successful run of your company in Dubai.