Termed as the independent examination of the financial records which is likewise being prepared by an organization, it is the external audit. External audit, also known as the statutory financial audit, aims to check and verify the accuracy of statements and an organization’s financial standing. Through external audit, the financial statements being prepared is similarly check whether it is done in accordance with the set laws and accounting standards. It is an independent examination of the financial records prepared by an external auditor.
An external auditor is a professional, and independent third party who is not actually part of the organization being audited. They perform an unbiased review of the financial records of an organization. The organization’s accounts and financial statements are similarly being examined by an external auditor. They have the access in the accounting books, payroll, purchasing records and other financial reports of the company to see its weakest points or any of its irregularities and where the strategy for efficiency or improvement can be directly utilize and recommended in the company.
Aside from the above-mentioned responsibilities of the external auditors, they are correspondingly accountable of the following:
A firm doing business in UAE has to submit its audit report 3-6 months at the end of the financial year and with our expertise in terms of working with the external audit, we make sure to provide your company the best external audit report in the UAE. AMCA is a licensed and approved auditor by the Ministry of Economy (MOE). We are listed in all major free zones and our audit reports are accepted across the UAE.
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