Audit & Assurance
External Audit, also known as independent audit, is a review of a company's financial records and operations by an outside auditor. The purpose of an external audit is to provide assurance to shareholders, investors, and other stakeholders that the company's financial statements are accurate and reliable.
External audits are generally performed to meet regulatory requirements and to provide assurance to stakeholders that a company's financial statements are accurate and reliable. External audits also help identify any potential fraud or mismanagement within a company.
The specific documents required for an external audit will depend on the company and the scope of the audit. Generally, external auditors will need access to financial statements, including balance sheets, income statements, and cash flow statements. They will also need access to any supporting documentation, such as invoices and bank statements.
The procedures for an external audit generally include the following steps: planning, risk assessment, testing, and reporting.
An external audit is conducted by an independent auditor, while an internal audit is conducted by the company's own staff. External audits are generally required by law, while internal audits are voluntary. The main purpose of an external audit is to provide assurance to shareholders, investors, and other stakeholders, while the main purpose of an internal audit is to evaluate the effectiveness of a company's internal controls and processes.
External audits play a crucial role in ensuring the accuracy and reliability of a company's financial statements. External Audit Services in Dubai and UAE are essential for compliance with regulatory requirements and for providing assurance to stakeholders. Reyson Badger is a leading provider of External Auditing Services in Dubai and UAE, with a team of experienced External Auditors in Dubai and UAE who are dedicated to helping companies meet their regulatory requirements and provide assurance to stakeholders.