Stew & Jones
Audit & Assurance Services
Audit & Assurance
Financial Audit and Tax Audit Assurance from Maxims Auditors & Consultants, Stew & Jones Accountants. An Audit is an examination of a company’s financial records to determine if they are fairly represented, free from material error in accordance with International Accounting Standards. A Financial audit is an official inspection of an Organization’s Accounts, typically by an Independent body. The result of the Financial Audit is an Independent report by the auditor, ensuring that the Books of Accounts are properly maintained by the concern as requires by the land of law.
Why you need to Audits
As a result of an Audit, shareholders and Management may effectively evaluate and improve the effectiveness of Risk management, control and the governance process over the subject matter. Without Independent Audits, the Shareholders should rely on Managements assertions as to the accuracy and compliments of company Financial Statement.
Un Qualified
Often called as a clean or unqualified opinion, this opinion indicates that the firm’s financial records have been maintained in accordance with the standards and are free from any material misstatements.
UN Qualified with Explanation
An Auditor may issue an unqualified opinion that is nevertheless accompanied by additional information. The Auditor may write an explanatory para that expresses the change in accounting principle from previous year or about his or her doubt about going concern of the business.
Qualified
A Qualified opinion means that the financial statements are in accordance with the IAS/IFRS and as per the Law of the Land, but with some exceptions such as using different depreciation principles in assuring the value of Assets.
Adverse
An adverse Opinion will be the worst type of Financial Report which will be issued while the firm’s financial records do not confirm to any standards. In addition, financial records in the firm have been grossly misrepresented.
Disclaimer
If the Auditor unable to complete an accurate Audit report due to the absence of supporting documents or He or She does not have access to sufficient information to form a conclusion that he will issue a report with disclaimer opinion stating that an opinion of the firm’s financial status cannot be determined.
Why choose Maxims Auditors & Consultants for Audit in the UAE?
Through comprehensive planning we take the time to fully understand each client and his business. In this manner we are able to identify the key areas and risks to which the business is exposed and focus our audit effort thereon. We take advantage of the control systems in place at our clients in order to provide a cost-effective service. We add value by making practical recommendations for improvements in control systems and reductions in inefficiencies. Regular communication with our clients ensures that issues are resolved as they arise and that there are no last-minute surprises.