Financial Statement Audit
Financial Statement Audit Services
Financial statement audit services are an essential part of any business operation. it play a critical role in creating and maintaining investor confidence and can unlock valuable insights into the business.
The firm’s audit approach is based on understanding the client, including the industry in which they operate, its organizational structure and its internal control processes.
Accordingly, the MARKEF audit process does not consist solely of verifying data in the financial statements with supporting documentation. It also includes analyzing the client’s business risks in its business environment. MARKEF audit teams examine the objectives of the business and its strategy, and analyzes its business processes, their inherent risks and related internal controls.
Our audit practice provides auditing services to a large number of companies, ranging from startups to multinational corporations operating across the varied UAE economic spectrum. We create specific areas of specialization and exploit economies of scale.
Importance of Financial Statement Audit Services:
1. Ensure Accuracy:
It help ensure the accuracy of a company’s financial statements, which is crucial for making informed business decisions. By verifying the financial statements, an auditor provides assurance that the numbers reported are reliable.
2. Regulatory Compliance:
Help businesses comply with legal and regulatory requirements, such as those set by the Securities and Exchange Commission (SEC), the Public Company Accounting Oversight Board (PCAOB), and other regulatory bodies.
3. Identify Risks:
It helps to identify potential risks that could impact a company’s financial performance. This includes detecting errors and fraud in financial statements, as well as identifying areas of weakness in a company’s internal controls.
4. Improve Investor Confidence:
By ensuring the accuracy and reliability of financial statements, financial statement audit services improve investor confidence in a company’s financial performance, which can result in increased investment and improved shareholder value.
Benefits of Financial Statement Audit Services:
1. Enhanced Credibility:
Enhance a company’s credibility by providing independent verification of its financial statements. This can lead to increased trust from stakeholders, such as investors, creditors, and regulatory bodies.
2. Improved Internal Controls:
Helps to identify weaknesses in a company’s internal controls and suggest improvements to enhance efficiency and reduce the risk of fraud.
3. Better Decision Making:
Financial statement audit services provide valuable insights into a company’s financial performance, which can help management make informed decisions that can impact the company’s future growth and profitability.
Industry Experience
We add value by focusing client’s attention on risk points and highlighting leading practice ideas for improving controls. Our audit teams specialize in the sectors in which the clients operate. Our methodology is based on industry-focused services. Accordingly, different auditing teams have diverse industry focuses. This enables the firm to provide quality professional services, while ensuring uniformity and consistency. In the UAE, our sector-specific teams include:
- Financial services
- Infrastructure, government and healthcare
- Consumer and industrial markets
- Technology, media and telecommunications
How we can help
A customized auditing plan aligned with client needs. The firm’s business structure and special areas of focus facilitate the preparation of a customized auditing plan for each client. This process helps us to provide:
An effective and focused auditing approach – focusing on genuine risks makes it possible to focus on those areas where financial statements are exposed to the highest risk, while saving resources in other areas.
Added value for the client – analyzing business process and examining risks and controls enables audit teams to spot both weaknesses and possibilities for improvement in the various business divisions, adding value for the client.
Quality control – improving the presentation of the financial statements and accompanying notes to more accurately reflect the business financial position and the results of its operations.
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MARKEF is a leading Accounting Firm offering wide range of services including Accounting and Bookkeeping, Audit and Assurance, VAT and Corporate Tax, Business Consulting, Management Consulting, and Business Setup Services in Dubai and across United Arab Emirates.
- Office No.1929, Tamani Art's Offices Tower, Business Bay, Dubai, United Arab Emirates
- +971 4 589 2828
- +971 50 105 4241
- E-mail : info@markef.com
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Mon - Sat : 8:00 - 18:00
Sunday Closed
