The objective of the “Audit and Assurance” assignment is to provide an Independent audit opinion on annual financial statements of the company for each financial year covered by the term of the audit appointment.
Legal constituent for audit and assurance activity:
Mansoor Mulla Auditing of Accounts is DMCC, DAFZA, JAFZA approved auditors, one of the entities of Excellence Group duly licensed from Department of Economic Development (DED) Dubai with license number 738553 and approved by Ministry of Economy to carry out activities of Auditing.
According to the UAE Commercial Companies Law, Federal Law No. 2 of 2015, Article 27, Chapter 2, every company shall appoint auditors for auditing their books of accounts by a licensed auditor registered under Ministry of Economy in the UAE.
Businesses that are registered under the trade free zones and hold the trade license issued by the free zones, require their annual financial statements to be audited at the time of renewal of their trade licenses. As the financial year in the UAE, is the calendar year.
An audit provides independent verification that the financial statements are a true and fair representation of the entity’s current situation. This provides invaluable credibility and confidence to your organisation’s customers/clients, stakeholders, investors or lenders and even potential buyers. Also, it helps your organization to meet the statutory requirements and regulations to make sure that the organisation is 100% compliant with all of its current statutory obligations.
An audit can be an effective tool for identifying fraud and opportunities to commit fraud. Experienced auditors are skilled at pinpointing weaknesses in an organisation’s systems and controls and suggesting ways to strengthen these to prevent fraud occurring.
An audit confirms the accuracy of an organisation’s financial statements by analysing its financial transactions. It’s a detailed process and can result in certain types of income, expenditure, assets and liabilities being scrutinised. This critical examination, coupled with the auditor’s financial expertise, can then be used by business owners for better financial planning, budgeting and financial decision-making for the future.
As standard practice, we at Excellence follow the statutory requirements and International Financial Reporting Standards (IFRS Standards) and International Standards on Auditing (ISAs)and strive to provide the best audit experience. Our objective is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion.Excellence Auditing is one of the leading auditing firms in Dubai, UAE, registered with DMCC as approved auditors.
Excellence group entity Mansoor Mulla Auditing of Accounts is Registered and Approved Auditors in DMCC, JAFZA, DAFZA, DWC, DSO, SAIF Zone, Hamriyah Free Zone, DED, The Dubai Design District (D3),TECOM, Dubai Media City, and Dubai Internet City.
Yes, we are Approved by Ministry of Economy under registration no 843.
Yes, Our Reports are Widely Accepted with all the Major Banks in UAE.
We follow International Financial Reporting Standards (IFRS) for Auditing and International Accounting Standards Board (IASB) for Accounting.