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Compliance Audit

Compliance Audit can broadly categorize into:

Statutory Audit

Conducting a statutory audit helps you ascertain and understand the correctness of the financial records and statements of the organization. Not all firms have to undergo statutory audits. All governmental departments and organizations and specific private business sectors (insurance and aviation) need to report their performance. Hence, it is mandatory that they perforce Statutory Audit from time to time. Specific charities are also required to complete statutory audits.

Though the government requires that businesses carry out statutory Audit, there are many benefits of doing it for the Company.

 

They are:

  • It helps improve the goodwill of the Company
  • Statutory Audit helps increase public trust and reliability of the business
  • It enhances the credit-worthiness of the business
  • A great statutory audit report can be to attract investment by a company.

Private/ Special Audit

Complying with the set of statutory regulations established by the various government departments is increasingly vital after incorporating your business. Compliance Audit in Dubai is an essential aspect of keeping your business afloat. In today’s world of fierce competition, it is crucial to keep your foot aground firmly meeting these requirements. Failure of non-compliance can attract a bevy of legal consequences.

The primary purpose of statutory compliance is to ensure that all businesses have a favorable, supporting, and unbiased market to conduct their business. However, there are many more benefits than this.

An external audit helps in the following,

  • It helps you save you from penalties
  • It helps a business drive immense repute
  • It provides insights into your business strength
  • It can help build risk management strategies

What Makes AM Audit the Best Name for Compliance Audit?

There is no doubt that you need to comply with all the statutory requirements and regulations if you want to operate your business without falling into the pitfall of legal consequences and penalties. The sheer extent and complexities of the process make sure that it can only be done by an experienced and qualified auditing firm in Dubai. That’s where AM Audit has got your back. Over the years, we have been supporting a range of businesses with effective and affordable compliance auditing in Dubai as per their unique requirements.

If you need a compliance auditing firm in Dubai with demonstrated experience and professional qualifications to help you, we can help. Contact our client relations desk now! We offer services all over Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, and Umm Al Quwain.