Internal Audit firms in UAE can take your business to the next level-

How?
Internal audit service is provided by many Audit firms in Dubai. Audit firms in UAE recommend
internal audit for every business. It is because it helps in risk management and effective
achievement of objectives through better process management. Audit firms in Dubai have
professionals who can be employed as internal auditors in your business. They will not only
identify the risk factors but also manage them in the right way. For better internal audit, the
auditor is required to understand the processes of the organization and identify the key areas
where improvements can be made. The proper synchronization of internal audit with the
management is required. Audit Firms in UAE will also ensure that internal controls have
adhered properly. The internal control measures must work according to the procedures,
strategies and norms framed by the management.

Why internal audit is required?

• Every businessman wishes that their business must always go on the right track. Internal
audit keeps a regular check to ensure smooth growth of the business.

• Internal Audit by Audit firms in UAE ensures proper compliances of laws and regulations.
Any non-compliances are reported so as improvements can be made in future.

• Audit firms in Dubai review the operations carried out by different divisions. Any
inefficiency in the working of divisions is corrected by taking the right measures.

• The issues that are significant for the survival of business are also handled by internal audit.
Such issues if handled properly by Audit firms in Dubai will help in the prosperity of the
business

• Internal auditors have expertise not only in accounting but also in functional areas of
management and various organizational behaviors

Scope of internal auditors employed by Audit firms in the UAE

The main areas where internal auditors lay emphasis includes risk management and
governance.

• Risk management includes identifying threats of risk prevailing in the organization. The
internal audit team provided by Audit firms in Dubai will not only help in risk management but
further will look after the control systems of the organization. The auditors will check the
reliability of the finance team by reviewing the accuracy and completeness of financial reports.
Moreover, they will check the processes available for record keeping and reporting in the
organization. The compliances with UAE laws are compulsory and this is ensured by audit
firms in UAE by checking the ongoing operations of the business. The plans, policies and
procedures have a substantial impact on the business which is the reason ongoing processes
are reviewed to ensure law compliances of the particular region. Audit firms in UAE will make
you aware of the serious consequences and huge penalties if UAE laws and policies have not
adhered. The internal auditors are also responsibly safeguarding the assets of your business.
They will evaluate the systems and processes related to the safeguarding of assets, risk of losses
from sudden incidents such as theft, fire etc. They will also check exposure to future elements
and any improper operations having a threat on assets of the business. Audit firms in Dubai
will ensure that efficiency and effectiveness of operations are maintained in an organization. It
requires compliance of international standards. The management of the organization must
frame the operating standards that will define cost-effective measures and will be responsible
for the efficiency of such measures. The duty of the management does not end by just framing
these operating standards. All such standards must be properly understood by all working
divisions so that they follow them as required. The internal auditors appointed by Audit firms in
UAE will check whether the operating standards are framed by the management and properly
communicated to all divisions or not. They will also check the discrepancies if any in operating
standards and ensure its communication to a responsible person who will take corrective
action against such discrepancies. It will also be ensured by the internal auditor that a
responsible person has taken corrective action. Another task takes care of by the internal
auditor of the Audit firm in Dubai is to ensure the accomplishment of objectives related to
operations. The management frame certain goals related to business operations that are
required to be achieved to ensure that operations are going on smoothly. Audit firms in Dubai
will ensure the achievement of such objectives and will evaluate the development of such
operations regularly. They will ensure that the end results of such operations must be constant
along with the achievement of goals. The policies framed are taken forward as decided will also
be reviewed by internal auditors.

• Governance in an organization is the responsibility of Audit firms in UAE. Their internal

audit team will make the necessary improvements in the governance by conducting the
assessment. Now the question arises as to how they will do so. The Audit firms in Dubai will
endorse integrity and morals in the organization. They will make sure that the supervision of
the performance of the organization and accountability is going on progressive mode. In other
words, internal auditors will make sure that the organization is performing well and
supervised effectively. Audit firms in UAE will collect the risk and control evidence and will
communicate them efficiently to the concerned department. Any information that is required
to be communicated among board members, management and auditors must be communicated
effectively. Audit firms in Dubai will manage such events and actions necessary for effective
communication.

Modern approach in Internal Audit practices followed by Audit firms in UAE

The modern internal audit practices adopted by Audit firms in Dubai cover vast areas in an
organization. Starting from the traditional functions of reviewing of activities it takes care of
the safeguarding of assets, compliances of laws and regulations, policies prevailing in an
organization, and reliability of accounting information. In addition to that, it takes care of
modern functions such as organizational performance, reviews the economic resources of an
organization, and ensures effective use of such resources. Finally, when all functions are
accomplished effectively, it will move towards evaluating governance and give necessary
recommendations in different areas that will help in business enhancement. You must be
thinking which Audit firm in Dubai will give such brilliant services. Your search ends at
Alkhadim, one of the best Audit firms in UAE that has employed highly qualified professionals
providing a wide variety of Audit services. Besides Internal audit services, they offer numerous
audit services better than other Audit firms in Dubai such as due diligence audit, business
valuation audit, risk investigation audit, investigation audit etc.