Audit Support Services
Stratify’s Audit Support Services streamline your audit process, providing expert guidance, documentation review, and ensuring compliance with regulatory standards.
Ensuring Compliance and Confidence
Audit support services are designed to assist companies in preparing for internal or external audits, ensuring compliance with regulatory standards and best practices. These services encompass a range of activities, including reviewing financial statements, gathering necessary documentation, coordinating with auditors, and addressing any findings or discrepancies during the audit.
Whether you’re preparing for a statutory audit, an internal audit, or a regulatory review, our audit support services streamline the process, saving time and resources while ensuring a successful audit outcome.
Benefits of Stratify’s Audit Support Services
Expert Guidance
Our team of qualified professionals has extensive experience in working with both internal and external audits across various industries in the UAE. We ensure that your business is well-prepared for any audit requiremen
Streamlined Process
We handle all aspects of the audit preparation and coordination, saving your team valuable time and reducing the burden on your internal resources. Our streamlined approach minimizes disruptions to your day-to-day operations
Compliance Assurance
Our services ensure that your financial records and practices comply with local and international regulations, including UAE tax laws, IFRS standards, and other industry-specific guidelines
Reduced Risk of Non-Compliance
By identifying potential audit risks and helping you address them before the audit begins, we significantly reduce the chances of non-compliance issues that could lead to fines, penalties, or reputational damage
Tailored Solutions
We understand that each business is unique. Our audit support services are customized to meet the specific needs of your organization, ensuring the best possible audit outcome
Documents Required for Audit Support Services
Financial Statements
Income statements, balance sheets, and cash flow statements
Tax Returns
Previous tax returns and supporting documentation for income, deductions, and credits
Invoices and Receipts
Records of transactions, including sales invoices, purchase receipts, and payment vouchers
Contracts and Agreements
Copies of contracts with customers, suppliers, and service providers
Bank Statements
Statements showing business bank transactions for the audit period
Internal Financial Reports
Management reports, budgeting documents, and financial forecasts
Process for Audit Support Services
Initial Consultation
We begin by conducting a thorough consultation to understand your business, audit requirements, and any concerns you may have. This allows us to tailor our services to your specific needs
Pre-Audit Review
Our team performs a comprehensive review of your financial records, internal controls, and documentation. We identify any potential issues and recommend corrective actions to be taken before the audit
Documentation Preparation
We assist in gathering and organizing all necessary documents required for the audit, ensuring that everything is in order and readily accessible
Audit Coordination
During the audit, we act as your liaison with the auditors, ensuring smooth communication and addressing any issues or requests for clarification in a timely manner
Post-Audit Assistance
Once the audit is complete, we help you address any findings, implement recommended changes, and ensure future compliance through ongoing support and monitoring.
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Our Other Audit Services
Our Services
Stratify Corporate services is an independent and international organisation with a specialization in crafting sustainable solutions and strategies
Value Added Tax
Ensure full compliance with UAE’s Value Added Tax regulations through tailored advisory, registration, filing, and VAT health check services.
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Corporate Tax
Navigate UAE’s corporate tax landscape with strategic tax planning, filing, and compliance support to optimize your tax position.
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Excise Tax
We assist businesses in understanding and complying with excise tax regulations, including registration, filing, and audit preparation.
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Accounting Outsourcing
Streamline your financial operations by outsourcing your accounting needs, from bookkeeping to financial reporting, for efficient management.
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Customs
Simplify import-export procedures and ensure compliance with UAE Customs regulations through advisory, registration, and customs reconciliation services.
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Company Formation
Start your business in the UAE with expert guidance on company incorporation, licensing, and compliance with local regulations.
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Audit & Assurance
Our audit and assurance services provide reliable financial insights, ensuring transparency and compliance with regulatory requirements.
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Economic Substance
Anti-Money Laundering
Protect your business by staying compliant with UAE’s AML regulations, with risk assessments, monitoring, and reporting solutions.
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Frequently Asked Questions
What is the purpose of an audit?
An audit aims to verify the accuracy of financial statements and ensure that a business complies with regulatory requirements and accounting standards. It provides assurance to stakeholders that the company’s financial reports are accurate and trustworthy.
How can Stratify help during an audit?
Stratify provides comprehensive audit support, helping businesses prepare for audits, gather necessary documents, and manage the audit process efficiently. We ensure that your company remains compliant and addresses any audit findings promptly
What types of audits can Stratify assist with?
We offer support for various types of audits, including statutory audits, internal audits, tax audits, and compliance audits in the UAE.
What are the consequences of a failed audit?
A failed audit can lead to penalties, reputational damage, and non-compliance issues.Stratify’s audit support services help mitigate these risks by ensuring that your business is well-prepared for the audit process.
How often should a company undergo an audit?
The frequency of audits depends on the regulatory requirements of your industry and jurisdiction. In the UAE, many businesses are required to undergo an annual statutory audit.
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Conclusion
At Stratify Consulting, we ensure your business is well-prepared for any audit requirement, providing peace of mind and enabling you to focus on what matters most—growing your business. Contact us today for expert audit support services in the UAE
