Financial controls remain the most critical part of the internal control and auditing function for any organization. Financial statement auditing is performed by external auditors, whereas financial control auditing is performed by internal auditors.
Financial control Auditing in Dubai, UAE refers to the comprehensive appraisal of the effectiveness of the financial SOPs in place. It ranges from covering the accounting and financial statements, record-keeping, resource allocation, budgetary controls, treasury, and financial risk management.
We at Aviaan have a team of experienced and professional auditors who have expertise in financial controls in Dubai. We can assist you to mitigate the financial compliance, regulatory, and internal financial risk management thoroughly.
The Scope of Financial Controls Auditing in Dubai, Abu Dhabi, Sharjah, UAE
Our key financial control audit areas covered are:
- Financial and Accounting Reporting – record-keeping, accounting and financial statements, Statutory reporting, and Accounting technology selection.
- Financial Performance Controls – Cash flow and liquidity, Working Capital, Inventory, budgetary controls, benchmarking, cost efficiency, profitability, credit rating, Resource Allocation, supplier and customer relations, and fraud prevention.
- Capital Structure – Funding sources, Debt and Equity structuring, Cost of Debt, forecasting, and Credit management.
- Business Process Controls – internal control environment, automation and technology development in finance, and employee training.
- Treasury Controls – financial risk management, Forex, Interest rate risks, cash and liquidity, and hedging techniques.
- Corporate Finance – mergers and acquisitions, investments and divestment, Business Valuation, and Protection.
- Financial Regulatory Compliance – Accounting Standards IAS, IFRS, internal controls, state regulations (ERS, VAT), Corporate tax, Employee payroll, and executive remunerations.
- Tax Management Controls – tax efficiency, group transactions, transfer pricing, compliance, and international tax regulations.
Our Systematic Approach with Financial Controls Auditing in Dubai, Abu Dhabi, Sharjah, UAE
We appraise the financial control with our systematic approach aligning the company vision with its internal controls. Our approach for Financial Control auditing in Dubai takes the following route.
Review of Existing Financial Controls
We analyze the existing financial controls by testing the available financial data. The accuracy and compliance of the financial reporting and compliance provide an overview of the financial controls.
Identification of Risks and Opportunities
The next phase comes with the identification of financial risks and opportunities for improvements.
Integration of new Financial Controls
This phase includes the introduction of new financial controls from policy, procedures, internal controls, fraud prevention, and technology adoption.
Implementation and Review
The last stage includes recommendations on effective financial control implementation and continuous monitoring.
Featured Benefits of Financial Controls Auditing in Dubai, Abu Dhabi, Sharjah, UAE
Contrary to the common notion, financial controls auditing in Dubai can yield featured benefits for your organization.
- Key Risks identification and mitigation policies.
- Implementation of effective financial controls to improve financial reporting and financial performance.
- Insights on strategic financial planning, risk assessment, and control procedures.
- Regulatory compliance, statutory compliance, and adherence to the accounting and financial reporting standards.
- Increased operational efficiency, better resource management, fraud prevention, and revenue generation.
- Effective financial risk management policies.
- Improved Credit ratings and Capital Restructuring.
- Integrated Compliance and Risk control initiatives.
At Aviaan, we aim to provide you the professional and comprehensive financial controls Auditing in Dubai. We ensure our clients get the most valued financial controls auditing services.