TFAB

  • Internal Audit

    Minimize financial risks and safeguard assets

  • Internal Audit

    Operate with greater transparency and accountability

  • Internal Audit

    Make informed decisions based on reliable data

  • Internal Audit

    Achieve long-term sustainable growth

In today’s dynamic business landscape, ensuring financial integrity and operational efficiency is crucial. Internal audit plays a vital role in achieving these objectives, offering a proactive approach to risk management and organizational improvement.

Internal audit is an independent, objective assessment activity designed to evaluate an organization’s internal controls, risk management processes, and governance practices. Internal auditors identify areas for improvement, promote operational effectiveness, and contribute to achieving organizational goals.

Benefits of Internal Audit

Enhanced Risk Management

Internal audits proactively identify and assess potential risks, enabling businesses to implement effective mitigation strategies.

Improved Financial Controls

A robust internal audit system strengthens internal controls, safeguarding against fraud, errors, and financial misstatements.

Boosted Governance

Regular internal audits ensure adherence to established policies, procedures, and regulations, fostering a culture of transparency and accountability.

Data-Driven Decision Making

Internal audits provide valuable insights to support informed decision-making processes across various organizational functions.

Increased Operational Efficiency

By identifying areas for improvement in processes and controls, internal audits can help streamline operations and optimize resource allocation.

Accounting & Bookkeeping

Maintaining the books of accounts and relevant supporting records of transactions are essential requirements for efficient management and control of the business operations. This will help us in computing the gross receipts and payments and other transactions for filing the VAT and other compliance procedures. Hence accounts maintenance in UAE is compulsory. It is mandatory for the businesses to maintain books of accounts for a minimum of 5 years in accordance with the Federal Law No 2 of 2015 on Commercial Companies, UAE VAT law and relevant free port laws. Additionally, the authority invites documents like annual accounts, ledger, purchase day book, invoices issued, invoices received, credit notes, debit notes, VAT Ledger etc. Businesses in UAE have to have qualified accountants to take care of their books of accountants in compliance with local laws & regulations and as per International Financial Reporting Standards (IFRS). Another good option for the businesses is to outsource accounting & bookkeeping services to accounting companies within the UAE. Hiring services of accounting & bookkeeping firms can enable the business management to focus more on the operations and completion of the business goals. Keeping proper books of accounts as per the UAE regulations would ensure accuracy in receipt and payment of money and other transactions done by the corporate. It might also help companies in addressing income requirements, preventing insolvency & bankruptcy, plan & forecast budgets that help in effective financial management & stability of the business.

The various legs of Accounting & Bookkeeping services are

Accounts outsourcing
Transaction overview
Designing process flow
Accounting system analysis Preparation of final accounts & MIS
Accounting staff training & supervision
Updating backlog of data
Reports submission

Why Choose TFAB for Your Internal Audit Needs?

  • Qualified Auditors

    Our team comprises certified professionals with extensive knowledge of internal audit methodologies and best practices.

  • Industry-Specific Expertise

    We possess in-depth understanding of various industry sectors, allowing us to tailor our approach to your specific business needs.

  • Risk Management Focus

    Our internal audit services emphasize proactive risk identification and mitigation strategies.

  • Technology-Driven Approach

    We leverage advanced audit tools and technologies to ensure efficient and comprehensive assessments.

  • Client-Centric Commitment

    We prioritize clear communication, collaboration, and a results-oriented approach throughout the engagement.

Investing in a robust internal audit function with TFAB as your partner empowers your organization to:

  • Minimize financial risks and safeguard assets.
  • Operate with greater transparency and accountability.
  • Make informed decisions based on reliable data.
  • Achieve long-term sustainable growth.

 

Contact TFAB today to discuss your internal audit requirements and discover how our team of experts can help your organization unlock the full potential of this essential function.

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  • Office - 26/113, Level 1, Al Fajar Building Oud Metha, Dubai, U.A.E

  • +971 56 996 2224
    +971 55 331 5440

  • [email protected]

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