6 Reasons To Choose Our Auditing Services In Dubai

When you search for auditing services in Dubai online, you will get a large list of companies to choose from. With so many options, you are bound to get confused. Moreover, not all companies can be trusted and each company is different from the other.

RVG Chartered Accountants, on the other hand, offers a comprehensive range of services.  With this blog, we would like to show you how our company is better than other auditing firms available out there. 

 

Take a look at the reasons below… 

  1. Regulated and Certified

One of the major aspects that customers tend to ignore while looking for the best audit firms in Dubai is the protection of their private information. Over the years we have come across various clients who have shared their information with uncertified firms before and have faced the repercussions afterward. 

With RVG Chartered Accountants, that’s not the case. We are a certified firm that will ensure that the information you share with us remains confidential. 

 

  1. Direct Communication

When you connect with us for accounting or auditing services, we will provide you with the right guidance. Unlike other firms that keep passing clients from one staff member to another, we make sure that you get an assigned professional immediately after your first consultation. 

We believe in building long-term relationships with our clients and that is only possible if there is direct communication. 

 

  1. A Great Deal of Experience 

Choosing RVG Chartered Accountants gives its customers the advantage of its wide scope of experience to handle the numerous tasks and situations that your company may end up in. We use our experience of over 10 years to make sure that the accuracy of your books of accounts is maintained. 

 

  1. Innovative Approaches and Techniques

While the top 10 audit firms Dubai typically focus on providing expensive assistance and services, we do something different. Our team of professionals specializes in helping small and mid-sized companies. Since we are a company that started off a small business, we know the difficulties an owner or manager faces. So, whether you are facing issues like cost limitations, profitability or cash flow management; we understand all of it. 

We use the experience accumulated by working with big businesses to resolve issues that small businesses face. We utilize varied approaches and techniques to fit the exact needs of your business. 

 

  1. Customized Services

Every business is unique…so are the problems it faces. Which is why we do not believe in the phrase – ‘one size fits all’. As one of the most trusted auditing companies in Dubai, we invest time to understand the bigger picture. This means, when you reach out to us for a service, we will comprehend where your company stands and where it needs to be. After getting a clear idea, we build a series of plans and help you accomplish your objectives. 

 

  1. Reasonable Prices, No Hidden Fees

As soon as you get in touch with us, you will realize that our prices are competitive. Besides offering affordable prices, we also guarantee that we won’t charge any additional or hidden charges.  One of the reasons why we’ve made this far is because of the ‘trust’ our clients our existing clients have shown in us. We pride ourselves in working honestly and wish to continue working in this manner in the future as well. 

Now that you’ve read the reasons, we hope you won’t hesitate to contact us. You can contact us via call or simply by filling out our contact us form. In case of questions or concerns, kindly send us an email; we’d be happy to address them.

Kinds of Audit Services in Dubai and why they are a Necessity

 

auditing services Dubai

 

An audit is not just a technicality; this mandatory step is useful if you want to safeguard your business and help it flourish. There are many reasons behind this; some of which include features such as practical conflict-resolution, uninhibited communication, and early warnings.

The procedures involved in an audit are customized according to the particular audit that is being provided by VAT consultants in Dubai. This approach ensures that members are successful in providing an intelligent, constructive, and much better quality of audit to every client.

What are the Various Types of Audit Services in Dubai?

Based on the specific requirements in an audit and its purpose, there are various types of audits that are conducted by the respective members. Some of these are:

Internal Audit: Done by the employees within the organization, this type of audit is focused on strengthening internal control systems. This helps minimize the risk of errors or omissions – both intentional and unintentional. Additional focus areas include protection of assets, sufficient division of authority across main control regions and conforming to internal operating policies as well as guidelines.

External Audit:

Statutory Audit: A statutory audit is one that is required by law to be performed at a given time. It is aimed at reviewing the accuracy of an organization’s financial records and determines if it is representing its financial status correctly. For this purpose, various data such as transactional records, bank balances, and bookkeeping records related to a host of private and public corporations, banking institutions, financial institutions, sole-proprietors, and so on, are examined.

Tax Audit: This entails the preparation of a report that includes various forms filled as per the governing body’s rules and regulations. The audit services in Dubai that are offered by our experts also include the following tasks –

● Assessing the notice given by the tax authority and explain about it
● Examining the problems, if any
● Helping our clients in putting together the files and documents for the tax audit
● Evaluating the findings of the tax audit and elaborating them to the client
● Explaining the process and other alternatives available in case the client disagrees with the tax authority’s assessments

Transaction Audit: It is an analysis of results to find out if the activities, resources, and other contributing factors causing them are being handled with efficiency and effectiveness.

Management Audit: The goal of a management audit is to examine the systems, techniques, and regulations followed by an organization’s management in the way resources are controlled and used, the planning of tactics and strategies, and improving the organization along with the employees in it.

Stock Audit: An audit that is done on a business’s inventory and is conducted in the interest of banks and financial institutions. This is aimed at making sure that the security on the basis of which funds are lent by the bank is safe and valued correctly.

VAT Consultants in Dubai: How RVG Chartered Accountants Can Help

Our team of experienced and skilled professionals is equipped to provide the best audit services in Dubai by performing various vital tasks such as the following –

Collect and Examine Proof: We combine the data gathered in interviews with database queries, email correspondence, and information present in hard drives. These findings are reported, after which internal controls are evaluated and restoration options are suggested.

Conduct Internal Audit: The scope of this audit is set according to the internal audit controls and performed with cost control as the priority. This is done to make sure that there aren’t any mistakes made by the employees either deliberate or accidental. We are excellently trained in protecting your organization’s assets and ensuring the smooth operation of procedures as well as the proper implementation of internal policies and guidelines.

Due Diligence: Our team helps clients in performing financial, legal and accounting reviews in different scenarios like investments, mergers or acquisitions. An excellent grasp of local laws, regulations and accounting practices gives us the ability to weed out all crucial problems in detail.

Reasons Why Companies Require Internal Audit- RVG Dubai

Every organization is subject to some kind of risk. In the past couple of decades, there have been several instances of fraud in different organizations due to which they experienced a great downfall. Besides, the present slowdown in the economy has provided a more explicit ground to a number of high profile frauds.

Therefore, some internal regulatory bodies such as the UK Bribery Act, USForeign Corrupt Practices Act (FCPA), Sarbanes Oxley Act, etc. have stringently asked the management of the organizations to effectuate an effective risk management framework to avoid fraud. So, companies have started undergoing internal audit Dubai.

With the implementation of the risk management system, the number of frauds has gone quite down. According to some surveys, more than half the frauds within the companies were detected by internal audit reviews. Therefore, being a company, you must get the internal audit of your organization done. Also, if you aren’t getting any efficient auditing services Dubai, visit RVG. RVG provides the best internal audit Dubai to protect your organization from any fraud.

Necessity for Internal Audit Dubai

Dubai is mainly known as the trading and commerce hub. From all over the world, investors and entrepreneurs come here to invest, trade and execute other business purposes. And for the same reason, more audit firms are establishing themselves every passing year.

For the past few years, it has been observed that the contribution of audit firms to the economy of Dubai is excellent. Hence, an internal audit not only lets companies to examine the errors but also plays a critical role in several ways. Here are some reasons why your company must undergo an internal audit:

  • Renders Objective Insight: Auditing own work without a definite conflict of interest isn’t possible at all. Therefore, an internal auditor is required. Since they don’t have any operational responsibility, they can easily achieve these objectives. Furthermore, an internal audit function renders value to your company.
  • Protection of Company Assets: An internal audit helps organizations verify their assets and suggest the right security measures for protection from fraud. The internal auditors run a program assisting stakeholders and management through a systematic risk assessment.

These help companies to discover gaps and let them allow a remediation plan to take place. You will get to know about any changes made in the environment and any fraud or risks will be minimized by the internal auditor.

  • Guarantee Compliance with Rules and Regulation: The audit evaluates the compliances of the firm with audit procedures and policies. When you perform an internal audit on a regular basis, you ensure compliance with all the laws and regulations. Besides, the audit also prepares you for the next external audit. Moreover, it saves you from paying any hefty penalties linked with non-compliance.
  • Evaluation of Control System: An internal audit assesses the effectiveness and competence of the internal control system.
  • Enhances Company’s Efficiency: Such audits examine the working of the company to find whether results are in accordance with the targeted objectives and being carried out as planned.
  • Evaluate Risks: An internal audit investigates company reports for any theft, fraud or misconduct.

To Conclude

With the continuous evolution of internal audit, organizations are stupendously managing the fraud risks and protecting the organization from any kind of security threat. Moreover, the internal audit function not only monitors and detects but also investigate incidences of fraud in the organization when they arise. Besides, internal audit has increased the focus of management of several organizations regarding fraud risks.

In case you haven’t executed the risk management framework yet and are searching for the best internal audit Dubai, you can visit us. We perform both due diligence as well as forensic and fraud investigation.

Understanding the Need for VAT Experts in Dubai

VAT rules and regulations all over the world are complex and change frequently. Thus, it’s common for companies to be unfamiliar with VAT policies and legislation in nations where they are attempting to reclaim VAT.  

Moreover, for businesses dealing across international borders, understanding the irregular rules on VAT or GST calculations can be a massive barrier to trade. 

RVG’s accomplished VAT experts offer a comprehensive range of VAT consultancy and audit services to support you in the management of your business’ VAT compliance. Our experts also help you manage VAT issues and changes in VAT legislation effectively.

Necessities and Obligations

Business owners are required to stay abreast of all the corporate travel expenses and deal with general everyday difficulties simultaneously. Employees log up business travel expenses each day and it is up to the business owner to stay on top of them all.

Difficulties

Companies are often unfamiliar with the VAT policies and legislation that are changing often. Most organizations do not even have in-house VAT experts, which means other significant resources are re-allotted to manage VAT.

Solution

Our experienced VAT experts in Dubai offer an extensive range of VAT consultancy and audit services intended to support you in the management of your business’ VAT compliance. Our team will also help you manage all the VAT issues that may emerge.

How We Operate

Our VAT advisors can give pragmatic VAT guidance on multiple issues explicit to your business needs including: 

  • Handling of VAT during cross border exchanges 
  • Expanding VAT reclaim and the use of VAT rates 
  • Multi-jurisdictional VAT obligations
  • VAT Accounting
  • Prepare an execution plan for VAT
  • Understand VAT concepts, for instance, VAT groups and the reverse charge system
  • Audit of records payable procedure and provide assistance regarding VAT payments
  • Examination of records receivable procedure including the use of the right VAT rates and the right order of sales 
  • The completion of VAT returns, EC Sales Lists, and Intrastat Returns
  • Providing VAT related training to employees
  • Identify and resolve VAT related issues 
  • Help with online filing of VAT returns 
  • Instruct companies or employees with the recording of VAT in books

Advantages of VAT Consultancy

  • VAT risk of the business is decreased and controlled.
  • VAT reclaim and VAT reserve funds are optimized
  • Moderation of interest and fines by supporting your business in meeting VAT commitments 
  • Expanded information of VAT legislation and VAT know-how all through the business 

RVG’s committed and experienced staff combines technical and financial information with superb client care to guarantee VAT compliance and management.  

As one of the top CA firms in Dubai, we have solid and long-term working associations with different global VAT specialists and local VAT experts. Among our customers, you will discover established large enterprises as well as small and medium-sized businesses conducting worldwide business. Our team of VAT experts is able to provide you with a complete ‘one-stop’ service which will ensure you are fully VAT compliant.

What Makes RVG One of the Best Accounting Companies in Dubai?

RVG takes great pride in providing high-quality Accounting, Taxation, Audit, Company Law Matters and Management Consultancy services. Our experienced accountants aspire to fully understand your business objectives to help you achieve them effectively. Whether you run a small business or a medium-sized one, a start-up or an established business, we offer customized service and result-oriented expert advice.

Qualities that set us apart:- 

1. Business Advisors and Consultants You Can Count On 

Our commitment to providing a highly personalized service has made us one of the best accounting and auditing firms in Dubai. As soon as you become our client, we become focused on your success. Our team creates a business development plan uniquely designed to deliver upgraded results for your business. And as your business develops and evolves, we take the time to sit down and talk about ways that will make it stronger later on. 

2. Renowned for Excellence

For us, client satisfaction holds supreme importance. Besides having the right skills, we also work hard to ensure that our clients are happy with our services. Our resources incorporate experienced accounting and tax experts with years of experience. Furthermore, our senior-level individuals play a major role in achieving your strategic business objectives.

3. Individual Attention That Produces Results 

RVG is centered on helping people and businesses to develop and thrive. We strive to improve the lives of both our individual clients and businesses. We continually work towards understanding your strategic challenges and financial obstacles to proactively discover relevant solutions. 

4. Exceptional Accounting and Tax Experience

With a diverse and accomplished team of accountants and CPAs, we are continuously striving to learn more. Our staff presents an extensive portfolio of accounting solutions and tax strategies to satisfy businesses both small and large.

5. Client Relationships Matter to Us

Unlike other accounting companies in Dubai that are ready to charge you on time but are missing when you have a money related inquiry – RVG is always there. We genuinely appreciate working with our clients and have a passion for delivering extraordinary client assistance. So, you may reach out to us whenever you have a query and we would be available at all times to serve you. 

6. Transparent and Reasonable Pricing

Our accounting packages are intended to fit the requirements and budget plans of business owners in an assortment of industries. Besides, we offer upfront and transparent pricing for the majority of our services. As professionals, we ensure our clients have a clear understanding of what they are paying for so that there are no surprises when an invoice shows up.

To Conclude:

Through consistent performance and excellent results, we have garnered praise and earned our position as one of finest accounting companies in Dubai. This is because, we are totally dedicated to giving our clients the most substantive and hassle-free accounting services. 

As your business evolves, we promise to provide support and guidance at every step of the way. To know more about us or to ask us a question, contact us via phone or email now!

SMALL CHANGES, BIG SHIFTS

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