CA, ACCA, CIA, M.Com, Bsc (Hons.)
Partner at Push Digits
With the rise in corporate scandals and irregular financial practices, the need for an Independent Auditor to verify the financial records of a Company is increasing all the time. The competence and reputation of the Audit Firm performing the External Audit of a Company is equally important as the users of the Audited Financial Statements such as Government Authorities, Free Zones, Banks, Investors and other stakeholders see the Auditor’s work as significantly important in making their decisions. Our Audit Firm, Push Digits Chartered Accountants is a very well recognized Audit Firm in UAE having a large client portfolio belonging to various industries and our Audit Reports are widely accepted in all Free Zones and Banks of UAE.
Audit Firms in Abu Dhabi – UAE
UAE laws and regulations require knowledge, experience, and meticulous effort to meet the stringent requirements of financial reporting. Audit Firms in Abu Dhabi, Sharjah, Dubai and all over UAE must adhere to all these regulatory requirements to be able to demonstrate professional conduct and to avoid heavy penalties. Adherence to these regulatory requirements has become even more critical following the implementation of the Law no. 20 of 2018 for AML in UAE.
Amazing Business Outlook of Abu Dhabi
Abu Dhabi is the Capital of the UAE which has been assigned a stable outlook by S&P Global Ratings Agency and that the fiscal position of UAE will remain strong over the coming years. Sovereign credit rating of ‘AA/A-1+’ has also been affirmed for Abu Dhabi by S&P. With the rising number of multinationals as well as strong established local Groups operating here goes further in explaining the successful business outlook in the Emirate of Abu Dhabi.
The buying power of people living here also adds to the increase in business potential of the Companies. To expand their operations further, these Companies often look for financing and investors options for which the most important tool required for these Companies in order to portray their positive performance is an independent audit conducted by Qualified Audit Firms in Abu Dhabi. With our Group Audit Firm, Nadeem and Umendra Chartered Accountants based in Abu Dhabi and all other Emirates of the UAE, we deliver what we promise as the top class independent and high quality audit and assurance services at the most reasonable fees structure.
The regulations enacted by Authorities such as Abu Dhabi Securities Exchange requires Companies listed with them to undergo an annual audit to ensure that these Companies are maintaining the highest levels of Corporate Governance.
What is included in our Audit Services and why it is Good for you to know!
Our beyond-world-class market relies on strict regulation to eliminate unfair advantages. Companies with whom you wish to conduct business will decide who they are willing to deal with based first on the ability of that firm to meet the requirements of a particular partnership. However that is not the sole criterion. Just as important, a large part of any decision will be based on the company’s corporate reputation which is derived from its financial reporting and financial statements audit.
Of course, part of a company’s reputation is in the public record. Your wonderful company is probably not going to want to sully its reputation by associating with a known polluter, for example.
If, for example, there is any doubt about a company being a Going Concern, able to finance its future, and meet its obligations, other companies will tend to steer clear of them. These sorts of revelations occur when the accounting is not accurate, complete, and proper; and when it has not followed the International Financial Reporting Standards (IFRS). While most accounting firms in Abu Dhabi will strive to provide the services of maintaining accounting as per relevant IFRS for your Company’s financial reporting, a lot of them fail to do so because of incompetent resources, lack of relevant knowledge, and ability to go beyond comfort zone to provide “benefit” to clients. Therefore, the decision to select the right Firm is key to your success.
The right audit firm will ensure that your revenues are reported accurately, proving that financial objectives have been achieved, without any exaggeration aimed at acquiring unearned bonuses of promotions. By the same token, and for precisely that same reason, it demonstrates that expenses have not been understated to make a company appear more profitable than it is in reality.
All this analysis tells the owners and shareholders about the financial status of their company, as of the audit date, by looking at the year-over-year net change.
Typically, the Financial Statements which are audited by us gives the Owners and Shareholders an insight into the following key components:
Assets which demonstrate the financial health & strength of your Company. They inform you how much money is currently in the pipeline (by age) which can be used for future payments, investment, and growth. That also helps to highlight potential bad debts and reflects on the efficacy of collection efforts by management. All this accumulatively assists internal & external stakeholders to make timely decisions.
We at Push Digits have years of experience in Assets Management of SMEs and Corporate Organizations. We do not only assist you in managing your current and non current assets, but we make sure your staff perform all the strategies devised in the consultancy assignment to get you the exact outcome we committed with you.
Liabilities of the Company give a snapshot of the debts owed by the Company to it’s suppliers, banks and other parties. Your stakeholders will evaluate the performance of your company by comparing your assets with your liabilities. Hence, effective management of your Liabilities is important.
Push Digits has proven expertise in management of Current Liabilities (mainly accounts payables) and Long Term Liabilities (mainly bank loans, bank facilities). The initial consultation meeting comes free of cost after which you decide based on the outcome of our no obligatory meeting.
Equity is one of the most revealing factors about a company’s success. If equity is increasing year-over-year, then business partners, stakeholders, and investors’ confidence will remain high. If equity turns out to be in Deficit, that eventually means company is facing continuous losses which means potential Going Concern.
At Push Digits, we work with our clients as their Business Partners. We do not just audit your accounts, we advise you with such proven methods and strategies that you will either be able to come out of losses or will be able to sell your business in a win-win position.
Profit & Loss Statement which in current times is known as Statement of Comprehensive Income (SOCI) which informs about your company’s performance (Revenue, Expenses and Net Profit or Net Loss) at any point of time.
Through Push Digits, we will present you with the profit and loss statement of your company and will advise you exactly where you need improvement and strategies to increase your sales and decrease your costs by using our years of experience of auditing Companies in different industries and by utilizing latest technologies that bring cost efficiencies to your business.
Knowledge, Experience, Respect
Small or large, individual or Enterprise, if you want to conduct business with other companies in the UAE, it is absolutely essential to get your financial statements audited by a professional, experienced, well-respected team like ours.
Some people may think that any favorable Audit Report is sufficient, but the truth is that the reputation of the auditing firm is just as important. Even the best possible opinion, when rendered by a disreputable firm, is essentially useless.
Less reputable outfits will also never offer a Management Letter at the conclusion of the audit. This vital tool helps to highlight all of the control weaknesses that are isolated over the course of your audit. This makes it easy to employ corrective actions to make the system stronger for subsequent audits.
Provisioning your company with external auditing and assurance services is essential for conducting a successful business venture in the United Arab Emirates. Every company must abide by the reporting rules so that their financial position cannot be misrepresented—which is one of your best reasons to consult with local audit firms for auditing your books.
Financial institutions, permitting offices, private lenders, real estate managers, Free Zone Authorities, and all of the companies with whom you intend to conduct business will refer to the Public Records before making a decision to exchange goods or services with you. This creates a level playing field for all concerned, where the law applies equally to all participants.
The UAE has one of the fairest systems in the entire world. No advantage is conferred on an individual player except that which is created by their own unique talents or abilities. Your business reputation is one of your most important assets; being public, it keeps everyone honest and above-board because bad choices will be seen by all.
Auditing firms, like ours, are responsible for creating your Report before it becomes part of the public record. It is an essential part of your financial reputation, so you must work with only the best auditing companies to ensure reliability and accuracy.
Proper reporting requires additional utilities that run in the background, such as accounting services, VAT & other tax consultancy services, as well as cash flow & forecasting services. These tools must be sound if they are to be used to substantiate corporate value. Push Digits is intimately familiar with these tools, and with all of the UAE laws, and so can assure accuracy in financial statements auditing.
Beyond that, if you wish to amalgamate with another firm, divest your company of a department, or even create a subsidiary, you will need assurance services such as Feasibility Studies, Business Valuation, Corporate Refinancing, Financial Restructuring, and even Company Formation services.
Equally important, both companies will require a complete internal or external audit before joining or splitting finances; a system audit to make sure everything is compatible (or can be made so through Software Consultancy). And, of course, all that will have a big impact on your tax position, profits, losses, and net values, requiring system audits, tax consultancy, and possible other types of financial consultancy services.
While there are many auditing firms in the UAE, few can offer decades of experience provided by Push Digits Chartered Accountants. Even fewer, we feel, provide the necessary dedication to personal service that will maximize your operation’s efficiency, and find solutions to make you a success in the UAE. When you work with Push Digits, here is what you can expect to find:
- Extremely cost-effective pricing;
- Over 20 years of highly knowledgeable industry experience;
- 30 minutes guaranteed response time, 24/7;
- 3,500 happy customers and clients;
- Guaranteed confidentiality;
- More than 50 detail-oriented consultants, always ready to go the extra mile to make sure you get full value;
- Top-rated Qualified Chartered Accountants and Certified Internal Auditors, all engaged in regular skills-updating training;
- Broad-based experience in every industry from retail, engineering, petroleum, construction, aviation and so much more;
- We provide training to your accounting staff so that they are able to prepare themselves in advance with all the necessary documents, information and paperwork which are required for an efficient audit;
- On-time audit completion, bringing as many accountants on-board as required;
- Ready-access to our Partners, and availability to present the results to your shareholders and/or stakeholders upon request;
- And finally, multiple offices throughout the UAE for your convenience, as well as worldwide offices to assure international experience to understand any international issues.
So please give us a call because we would love to hear from you. More importantly, we want to help you achieve top-flight reporting to show all your potential partners that you are the company that they want to do business with!