At Kudos PRS, we provide the Auditing Services in UAE by following the most ethical accounting practices to ensure that our clientele follow the international standards and latest government regulations.
We deliver a level of trust and confidence to our clientele by not compromising on standards and quality whilst also following Global and Universal Audit methodology, risk assessment procedures as well as adhering to the regulatory requirements.
According to Article 27, Chapter 2 of the new UAE Commercial Companies Law, Federal Law No. 2 of 2015, every firm must appoint auditors to audit their accounts from a licensed auditor registered with the UAE Ministry of Economy.
Explore our comprehensive range of services tailored to meet your business needs.
Statutory audits consist of certification of financial reports during the reporting period to ensure that they are prepared by following International Financial Reporting Standards (IFRS) and the local laws of the region in which the entity operates its business activities.
Forming opinion on the financial reports based on risk assessment and auditing procedures and providing assurance to the stakeholders of the entity and the users of the financial reports.
We provide internal audit services to businesses that may not have in-house audit divisions in order to make the process effective and economical.
Internal Audits consist of detailed and comprehensive audit checks to provide assessment on the adequacy of internal control procedures while also making accounting policies and systems stronger.
At Kudos PRS Chartered Accountants, our “Internal Audit” team tests the effectiveness of internal checks and controls as well as suggests new procedures and makes internal assessments of the threats to your organization besides assessing the losses which are otherwise not apparent.
Concurrent audits are usually round the year audits and are conducted online or offline to routinely monitor transactions. Concurrent Audits in most cases consists of complete and extensive check of transactions and facilitates the mitigation of continuing mistakes, errors and/or frauds as they could be spotted while doing the transaction audit online.
Concurrent audits may vary based on the business type.
Fact finding Mission is the core of investigation Audits. Our specialized team can provide these Audit services to clients who are prone to such risks.
Investigation Audits are usually aimed at a specific area, while many a time these audits are conducted for an organization for an entire year or a series of years.
Debtors Audit is an independent process of verification that pertains to the propriety and quality of trade receivables in terms of their recovery and issues related to discounts etc.
It also involves verification of inter party or intercompany transfer, sales and the recovery of transactions.
Stock Audit is an Audit of Inventory in which a thorough search is conducted of the contents of inventory such as its age, suitability, movement, purchase price, market price, direct and indirect cost allocation and its fair valuation. Inventory audits are mainly conducted for banks and financial institutions who have lent to corporate clients against the security of stocks.
The entities that operate with huge stocks and from different stock locations also seek inventory audits at periodical intervals to evaluate the physical availability, valuation and also to verify that the item given to the bank or to the lenders are marketable and not obsolete and slow moving. These audit services are also part of the due diligence process normally performed in a merger opted many a time as an independent third party assessment by the corporate clients and their listed companies.
Backed by years of experience and industry knowledge, our expertise ensures precision, compliance, and strategic financial solutions for your business.
Committed to honesty and transparency, we uphold the highest ethical standards to build trust and long-term relationships with our clients.
We provide customized solutions tailored to your business needs, ensuring personalized strategies for optimal financial growth and compliance.
We prioritize accuracy and efficiency, delivering timely reports to help you make informed financial decisions with confidence.
Explore our FAQs for quick answers to common queries about our services.
An audit helps ensure accuracy in financial reporting, enhances credibility, detects fraud and ensures compliance with regulatory requirements.
We provide internal audits, financial audits, company liquidation audits, risk management audits and compliance audits tailored to your business needs.
The frequency depends on regulatory requirements and company policies. While some businesses require annual audits, others may need quarterly or periodic audits based on their financial operations.
The duration varies based on the size and complexity of the business. A standard financial audit can take anywhere from a few weeks to a couple of months.
