AUDITING DUBAI

1. Why is account auditing important? the following issues warrant the need for account auditing It guarantees the accuracy of the account. By providing corrections and adjustments for errors and discrepancies of funds, whether they are overstated, understated, or duplicated, the auditing accounts of an organization aim to enable the operating accounts of a business or other non-trading organizations to stand correctly. accounting and taxation dubai This keep the accounts at the correct pace, becoming consistent, and presentable to the concerned entity. can be applied to the decision-making process. When a company requests that its books be verified and evaluated, the final audit reports and financial statements that are generated are used to evaluate the performance of the company both internally and externally for better standing

2. and serve as a means of borrowing money.accounting and auditing dubai Since banks consider financial reports or statements of the business as per timeframe, the final audited financial accounts submitted to the firm will aid in obtaining loans from them. Due to the fact that each statement and report is utilized as proof of the company’s standing, reliability, and trust, they will aid in the business's ability to obtain a bank loan. It promotes the satisfaction of stakeholders. As is well known, the government, banks, investors, and creditors are among the company’s stakeholders. In that light, the creation of financial statements and presentation of them to the company in question will allow the commercial stakeholders to be certain that the business is operating profitably so that they do not postpone payments.