Concept of Auditing and Reviewing
The process of auditing and reviewing is a set of operational procedures conducted by the appointed auditor or a group of persons with the aim of issuing or preparing a neutral professional opinion with respect to the issue in question. The process of auditing requires the auditor to obtain the full knowledge and proficiency in all matters that are relevant to the auditing and auditing rules in terms of general rules of auditing or auditing rules associated with the field operations. The auditor must also be with high degree of professionalism that requires all auditing rules to be accompanied to give an opinion or prepare a report.
General Auditing Rules:
The audit rules are a set of general rules and recommendations prepared by the accounting complexes, with a view to providing guidance to the auditor on the steps to by followed while performing the audit and review process. Audit rules consist of three groups:
The first group: is for the auditor and is considered the general rules.
The second group: pertaining to the fieldwork and is called the fieldwork rules.
The third group: pertaining to the auditor’s report and is called the auditor’s opinion)).
Steps for auditing start:
The process of auditing starts with bringing a set of documents that include the following:
A copy of the previous audit report, along with and the original bank statements, receipts, and ledgers must be provided. These documents shall be included in the initial checklist designated for auditing. In addition, the function of the auditor may require access to additional documents if necessary.
Audit and Review Planning:
The audit planning process involves understanding all the details related to operational processes, which may require conducting personal interviews with employees, reviewing extracted data, or requesting assistance in accessing websites or applications, to regulate the audit plan accordingly.
We, Al Khader & Co. Auditing Chartered Accountants- is one of the leading auditing and reviewing offices in the United Arab Emirates, especially the Emirate of Dubai. We are conducting auditing for hundreds of large, medium and small firms in different sectors, and our scope of work covers all core auditing and reviewing functions.
Why should you hire an auditor?
Before we answer this question, appointing an auditor requires us to answer the question:
Who is an auditor?
An auditor is a person who holds a valid certificate that allows him to practice the profession of auditing accounts, or to have a membership in an audit office or an auditing company that qualifies that person to perform the role of an auditor or to work as a chartered accountant.
We help our partners with the following:
To audit the financial statements.
To audit the interim financial statements.
to make recommendations to improve the controls and develop the business efficiency.