The audit is essential. You have to do it and more importantly, you have to do it properly. It is a specialized realm and making the right choice can be sapping. Having qualified auditors is the first step, to begin with. Nevertheless, you need a second-level drill down to finalize the right auditing companies in Dubai.
Let’ rewind back some decades. Businesses had no restrictions and used to go to banks without audited books of accounts. However, things drastically changed in 1990 when investors got burst to leave the market in mayhem and banks to bleed.
This tragic phenomenon triggered the government to bring auditors regulations in 1995 and thereby making it mandatory to have approved auditors such as CPAs, CAs, and ACCAs to conduct an audit. Banks started registering such qualified audit firms along with their years of experience, total staff, and other critical details. We have discussed at length in the last blog the importance of having registered auditors for your business.
Hence, businesses should do a thorough examination before choosing the right auditing companies in Dubai. It is a strategic move that quintessentially defines the success of your firm. You also have to be wary about your auditing company as banks have blacklisted many of them for having a bad reputation.
Remember your auditing companies in Dubai are your company’s representation to the government and shareholders. It is paramount that you leave no stone unturned in your assessment for the sake of your company’s credibility and corporate image.
A positive and true picture of your financial health gives assurance to your stakeholders and future investors to put their trust in you. We strongly recommend you keep a long-term association in mind before finalizing the auditing companies in Dubai. It is also crucial for your business stability as audit firms in Dubai play out a vital role in your financial decisions.
There are numerous and complex factors to consider to go for the right auditing companies in Dubai. We have untangled them for your clarity nonetheless. Let’s walk through them.
Check Clientele while choosing auditing companies in Dubai
An impressive client list is a hallmark of every successful company. Your clients are the reflection of your company. A reputed auditing company in Dubai would always have established clients irrespective of industry.
Please check what kind of clients your potential auditing companies in Dubai are serving? Are they market leaders? Do they have a reputation within domestic and international space? Do they have sustainable growth?
If they do, that means their audit records are immaculate and it is because of the auditing companies in Dubai they are working with. Therefore a meticulous Client check should be the fundamental component of your search.
Find out whether the auditing companies in Dubai have adequate staff or not. Does it have the bandwidth to allocate sufficient resources to you based on your needs? Besides, you should confirm whether they can stack up additional auditors for you or not. It is pertinent to ensure your work does not suffer if the scope of work increases in the future or in case of any emergency task that needs immediate attention. (Which is a very likely possibility)
A brand tells the story. It is enough to figure out the authenticity of your auditing companies in Dubai. It has to have strong credibility to its name. Please ensure the auditing companies in Dubai you want to associate with have a strong presence and unblemished reputation in the market.
You come across a myriad of companies claiming to be the best in your online search. However, please don’t be fooled by what they say but judge them rather based on what they do. Assess them with their credentials, i.e., the number of clients, the industry they serve, the size of the company, their international and domestic association, etc.
Review Industry Experience while choosing auditing companies in Dubai
It is the most determining aspect of the assessment. Experience always beats expertise. Yes, it is cardinal to pick an auditing company in Dubai with qualified auditors. However, you should always hire professionals who have already done what you need to get done.
Find out your auditors are thorough with audit procedures dealing with various industries. Moreover, you need to determine how long they have been doing it. You can also check it out by looking at the company’s history and vetting its reviews on several online platforms.
As mentioned in the beginning, we have already talked about this in-depth in our last blog. You can visit [Internal Link] for more. You require authorized auditors by the regulatory authority to audit your accounts in the UAE. It is one of the primary requirements in many free zones. For example, DMCC, a reputed free zone keeps the list of approved auditors for companies to hire. Hiring approved auditing companies in Dubai is compulsory for every company.
Besides, you also need to verify that the auditing companies in Dubai are on the bank’s list of approved auditors. This is specifically in the case of a company intending to take banking facilities or already having banking facilities.
A word of mouth is always the best yardstick to measure the integrity of a company. We encourage you to have a word with the existing clients of the auditing companies in Dubai you are looking for.
Ask them about their experience and the quality of services being delivered to them. You should also clear your doubts regarding the company. This way, you can balance out the pros and cons and make the right decision.
Communication is key to every successful business partnership. If you want ethical financial dealings, transparency is an indispensable factor and it stems from clear communication.
It is crucial in audit as you deal with numbers. Even a single oversight can cost you a fortune. It is about the details. Everything has to be communicated in a responsible and congruent manner to take an informed decision. Your financial success relies on paying attention to every detail.
There are umpteen auditing companies in Dubai that might be the best at what they do. However, they cannot help enable their clients without having the ability to communicate. Your auditing companies in Dubai must maintain a clear channel of communication and update you regarding the audit procedures, their status, and every other information regularly that matters for your financial growth and reputation.
Keeping talent and knowledge aside, technology makes a noticeable difference that stands you out in the crowd. Technology is a great enabler enhancing your outcome delivering more customer-centric solutions.
Technological empowerment is a clear-cut differentiator. If you want to evolve as a company today, adopting technology is one of the most perfect ways to do so.
It brings accuracy, transparency, agility, and efficiency to the process. All things collectively impact the client delivery which is the bottom line. You should look out for the auditing companies in Dubai that automate the repetitive process, brings innovation, and speed up the turnaround time through cutting-edge technology.
Why choose N.R. Doshi & Partners
We know that’s easier said than done. However, we practice what we preach. The aforementioned points are our intrinsic traits. We take pride in having each of them. That is precisely why we are the most preferred choice of businesses looking for auditing companies in Dubai.
We have been serving clients regardless of their industries. We have successfully audited umpteen accounts to establish a solid image and trust of our clients before the authorities.
Our authorized auditors are not just domain experts but they understand the nitty-gritty and nuances of your specific industry as well. We pay attention to every small detail that matters and deliver nothing but the best audit solutions. The perfect blend of experience, expertise, technological prowess, and a set of high-profile clients has made N.R. Doshi & Partners is one of the most trusted auditing companies in Dubai.
With our years of experience, we are thorough with audit rules and regulations. We are process-oriented and take a methodical approach to ensure there is no loophole throughout your audit procedure.
Moreover, we give you the representation you need to make an impression on your stakeholders and investors. N.R. Doshi & Partners is not just your audit associate but your growth partner. If you are looking for the best auditing companies in Dubai to take care of your entire audit process, we would love to be part of your success story. Write to us at firstname.lastname@example.org.