Companies in the U.A.E can expect an FTA audit at all times. A suspicious transaction or an error in the tax return could be a trigger for this. The taxpayer gets audit notification from the FTA only five days before the audit. Organizing the documentation and ensuring compliance in such a short period can be a daunting task for any company.
A Tax Health Check by our team of experts before an FTA audit will be crucial in identifying possible non-compliances. The process will minimize the risk of penalties and legal consequences as our approved tax agents perform necessary corrections & voluntary disclosures. The tax experts in R&A also train your accounting professionals to follow the standards defined by the Federal Tax Authority and ensure compliance for any future transactions. Identifying areas of improvement for better tax compliance will always comfort the business owners.
A financial audit is an objective examination and evaluation of the financial statements of an organization to make sure that the financial records are a fair and accurate represenation of the transactions. It ensures transparency and integrity of company financials. It helps to identify issues in internal management which can be a threat to the company’s growth. Our audit team provides a true and fair view of the company’s financials can also maintiain the confidence of an investor/shareholder. Financial audit statements can bring value to your business by identifying controls or processes that could be improved, thereby enhancing the quality of your business.
An internal audit offers risk management and evaluates the effectiveness of a company’s internal controls, corporate governance, and accounting processes. Internal audit provides management and board of directors with a value-added service where flaws in a process may be caught and corrected prior to external audits.
We provide independent assurance that an organization’s risk management, governance and internal control processes are operating effectively.