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Considerations for Recruiting External Audit Companies in Dubai

A good business is transparent in its practices.

Auditing can be a daunting process for any establishment. Some companies have it easier because they have an internal auditing team that is familiar with the financial records of the company and has the right skills to choose an external auditing company. However, some businesses might not have required auditing before; even well-established companies might be looking for a change in their auditing companies.

Finding audit companies in Dubai is no difficult task but finding the best one for you can be tricky. If you are new to the process of recruiting external audit companies in Dubai, here are some tips to relieve most of the stress related to the process.

Tips to Hire Audit Companies in Dubai

  • Assess the Audit Company Closely: While looking for an auditing company to take over your financials, the first thing you need to do is see if the company’s experience aligns with your goals. For instance, if you are trying to take your company to the stock exchange for the first time, you need an auditing company that has expertise in the field.
    Assess and shortlist five or six firms, ask them all the possible questions you have in mind, and ensure that they fit within your budget and timeframe. Also, get to know the professionals who will be handling your accounts and ask for referrals.
  • Reinforce Your Company’s Needs: To ensure that you and your auditing firm are on the same page, be specific about why your company needs financial auditing. Give the shortlisted firms all the information you have so that they can draft the most appropriate proposal for your establishment.
  • Pick the Audit Service that Meets Your Standard: There are numerous audit companies in Dubai, starting from the Big Four to mid-size and regional firms. While it may seem like picking from the Big Four is the most obvious choice, that is not true. Depending on your budget, sector experience, and location, there might be better choices for you. Interviewing the audit companies rigorously will clue you in on choosing the right one.

Why choose Spectrum?

Spectrum Accounting and Auditing has been one of the most prominent and reliable mid-sized audit companies in Dubai. Catering to all types of clients, Spectrum renders the highest quality of services every time. With a huge audit portfolio, you can choose the relevant audit for the reliability and transparency of your company’s financial statements.

FAQs

Here are some frequently asked questions related to tax consultants in Dubai

No. We have a varied auditing portfolio, VAT services, accounting, and so much more. Get in touch with us to know more about everything we have to offer.

There are quite a few instances that require you to start an audit. They include instances when:

  • Your bank advises you about it
  • Your business reaches a certain revenue
  • You wish to raise capital
  • You want to sell the company

It is not mandatory for all the businesses registered under free zones to conduct an annual audit and submit it to their respective authorities. It depends from freezone to freezone.

Contact our trusted team of professionals and we will guide you through getting ready for your first audit and many more to come.

According to the Law, it is not mandatory for all the companies incorporated in UAE Mainland to audit their accounts. The companies incorporated in all free zones have no compulsion to undergo auditing as it all depends on the laws dictated by the respective free-zone authority.

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