Audit processes need to be handled with optimal care, diligence, maximum efficiency and sufficient professional skepticism. KPI looks at financials not just from the perspective of the management who present the financial statements, but also from the stakeholders and users of the financial statements like banks and financial institutions.
KPI provides Audit services to a wide client base in the Middle East. Our range of clients include small individual businesses to large multinationals.
Our right skill set, passion to learn continuously and rich experience in the Middle East, help us to conduct top quality Financial Statements Audit. We provide meaningful inferences and pointers to the Senior Management. We strive to add value for all stakeholders.
Be it Trading, Logistics, Construction or Financial services - regardless of the industry you do business in, you will need to work with an independent and trustworthy Audit firm. Working with a professional audit firm who understands your business and industry can help implement better processes and stronger systems. Such independent Audit opinion, proper disclosures and transparency are highly demanded and usually required by:
As per UAE Commercial Companies Law, every company shall appoint auditors for auditing their books of accounts by a licensed auditor registered under the Ministry of Economy in the UAE.
High quality, independent financial statements audit is essential to maintain shareholders' and partners’ confidence.
Lenders such as banks and other financial institutions may require audited financial statements from approved audit firms based in the UAE, before they sanction or renew bank facilities or other services for their customers.
The system handles our Audit process from a risk-based perspective which means that the Audit workflow at KPI is structured to particularly suit every individual client as a firm. It is not a template-based service that is forced upon every single client; but it is a painstakingly designed service that is apt for each client.
The audit sofware allows the audit teams and the partners to sign off of workpapers securely with the date and sign stamp on it.
Every single bit of the client’s information goes into the system through our Associate’s laptops. There is no risk of papers flying around or flying into the competition’s office! Even if anyone intercepts an email between our laptops, one cannot access client data.
Automate the dissemination of data, from trial balance to workpapers, ensuring accuracy and quality throughout every engagement.Every workpaper, notes, audit query & its resolution and finalization of the Financial Statements are all done seamlessly using technology. This cuts down our time spent on non-value adding procedures during the Audit to make sure our time is well spent for the client’s benefit.
Helps monitor and control the progress of audit from start to finish remotely.
Streamline every step, from setup to sign off and finalization, and then rollover what you need — creating future efficiency gains too.
While clients, and clients alone, are the stakeholders for most of our service offerings, we make the distinction when it comes to Audit & Assurance Services. It is the users of the Financial Statements who rely on us. And that’s why we make no compromise on quality of presentation of Financial Statements. At KPI the distinction is clear and well understood and is always adhered to.
Identifying, hiring and continuously mentoring talented accountants. Organizing weekly/monthly knowledge sharing sessions that keep everyone at the top of their game.
Linking risk assessments to Audit processes through Audit Planning.
High quality Audit using a dynamic audit workflow management tool supported by knowledge base and well-structured Audit Manuals.
Emphasizing the importance of providing the highest quality output over commercial considerations.
Automative dissemination of data, from trial balance to lead schedules and work papers, ensuring accuracy and quality throughout the audit engagement. Reduces errors and mistakes during audit through human intervention significantly.
Speak to our experts who can guide you in the right direction and help you to stay ahead
Yes. As per the Commercial Companies Law, all mainland companies in UAE are required to have their financial accounts audited and maintain the records for at least 5 years. For companies situated in free zones, respective authorities require them to submit audit reports.
There are many key factors you may want to consider while selecting an audit firm in UAE. Few key qualities of a good audit firms are:
For any specific requirements, you can always check the list of regulated and approved auditors, available with respective authorities in UAE.
It can generally take anywhere between 30-60 days. This depends upon on many factors like the size of business, nature of audit, regulatory requirements, internal processes, availability of information and documentation and communication timelines.
The financial statement will be prepared by the client. After which, it will be audited by KPI. The client is expected to provide all required documentation as per audit requirements, KPI will extend all the required support throughout the entire process.
Yes, IFRS (International Financial Reporting Standards) is the mandatory Accounting Standards in UAE. The UAE Commercial Companies Law No 2 of 2015, requires all companies to apply international accounting standards and practices when preparing their accounts.
Yes, KPI Ahli Chartered Accountants (KPI) is registered with the Department of Economic Development (DED). KPI is registered with the Financial Free Zone Authorities in UAE (DIFC and ADGM). KPI is a registered auditor with Free Zone Authorities in UAE (Dubai, Sharjah, Abu Dhabi).