INTERNAL AUDIT SERVICES IN DUBAI, UAE BY AUDIT FIRMS IN DUBAI AND DUBAI AUDITORS

 

We are providing internal audit services in Dubai and all the other emirates of UAE. Our expertise in specific industries includes Hotels & Restaurants, Schools, Hospitals, Clinics, Transport, Oil & Gas along with trading and manufacturing companies. With the increasing complexity of business processes, internal audit firms in Dubai has become an essential tool for the management which is used for the continuous monitoring of entity, better control of organization and to enhance the performance. Internal audit when performed by an external professional internal auditors in Dubailike us, achieves the optimum result because we have the required knowledge, experience and professional competence along with the independence to evaluate and report impartial findings which comes as result of internal audit.

 

With our professional background, in-depth experience and expertise, we will undertake and deliver high quality internal audit activities in Dubai for our valuable clients with a view to enhance their performances based on the best practices establish worldwide for internal audit Dubai as mentioned in the preceding paragraphs.

 

The internal audit approach primarily focus on reviewing existing control system of the organization and related procedures which are assessed through compliance testing techniques for evaluating its effectiveness.

 

We have performed many specific assignments, different kinds of certifications which were tailored made to the clients’ requirements. These assignments include special investigations conducted for business owners/managers to identify into a perpetuated fraud within the entity or any type of misuse of funds or to highlight the prevalent fraudulent practices within an organization.

 

Benefits of Internal Audit

• Internal Audit provides management with objective analyses, appraisals, recommendations, counsel and information about the quality of Enterprise Risk Management and internal controls.
• Internal Audit understands the organization’s key business processes provides the opportunity for continuous improvement.
• Internal Audit helps the board of directors effectively discharge their responsibilities to all the stakeholders.
• Internal Audit provides management with objective analyses, appraisals, recommendations, counsel and information about the quality of Enterprise Risk Management and internal controls.
• Internal Audit understands the organization’s key business processes provides the opportunity for continuous improvement.
• Internal Audit helps the board of directors effectively discharge their responsibilities to all the stakeholders.

 

Type of Internal Audit Services we provide:

The nature and definition of an individual audit activity is largely determined by its objective, i.e. What management desires to achieve with the activity. There are several types of internal audit services we provide as per the management requirement. These are:

 

Compliance Audits: are largely focused on apprising management of the degree of compliance with established policies, procedures, laws, regulations, contractual provisions, etc.

 

Operational and Management Audits: is focus on the ability of an organization to achieve its business objectives in the areas of efficiency and effectiveness.

 

Internal Control Audits: objective is to apprise management of how adequately a particular system of internal control provides reasonable assurance that defined objectives are achieved.

 

Forensic Audits: are performed to assist management in detecting or confirming the presence and extent of fraud and in providing necessary evidence for legal purposes.

 

Consulting Activities: leads managers through continuous improvement program to document existing processes, evaluate controls and recommend improvements in processes that will better achieve business objectives. Recommend criteria for specific management tools such as cost benefit analysis or return on investment analysis.

 

Enterprise Risk Management: is on overall corporate risk assessment, control self‐assessment, and risk based auditing. It identify the best response to identified risks to help ensure the organization’s business objectives are achieved.

 

Our Approach, methodology and tools

Our Internal Audit Services are driven by a comprehensive, proven methodology performed by our experienced and certified professionals under the supervision of our partners. As a result our Internal Audit Methodology is primarily risk-based, modular in design and can be readily customized to an entity’s specific requirements. It is intended to provide with specific but detailed guidance through every stage of an internal audit (e.g., planning, execution and reporting), along with carrying out the primary responsibilities of modern today Internal Audit function (e.g., assessing organizational risks, future planning, Audit Committee reporting). Our Internal Audit Methodology is aligned with International standard like COSO and Sarbanes Oxley as well as local laws & regulations. Our internal audit methodology covers all operational, compliance, and financial reporting components.

 

Our Internal Audit Methodology also incorporates auditing practices commonly followed by public accounting firms and suggested by the Institute of Internal Auditors (IIA). Moreover, it is augmented by an extensive toolkit of audit aids including:

 

• Audit programs
• Industry-specific control database to benchmark best practices,
• Training materials for the staff (presentations, reference guides, manuals)
• Templates for Internal Audit
• Best Project management templates and tools

 

At dawn Consultancy, we utilize these tools to realize significant internal audit efficiencies and ensure consistent quality for our services. Our clients have access to all our audit approach, methodologies and tools.