Why companies hire external auditors in Dubai

by Rohit Sharma Internet Marketer

Why companies hire external auditors in Dubai as this is compulsory to sustain your financial records for no less than five years. An external audit is an inspection and review of the financial position of a corporation conducted by an audit firm that is not affiliated with the auditing company. This method usually begins with a review of the accounting records of the company, to assess the accuracy of calculations and the paperwork processes utilized. To assess whether a reporting of a company accurately represents the asset of the company and total financial well-being, an auditor’s study of the accounting of a company is compared to the financial statements. In some cases, business people require an external audit as a means of supervising of the company’s management. It is particularly true, for large companies where ownership and control are separate. The stakeholders and owners want assurance that the management team is functioning efficiently and that their investment in the company is safe.