Asset Audit in UAE
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About Asset Audit
Auditors who deal with assessing fixed and movable assets help clients reduce the possibility of fraud and protect assets. They improve the efficiency of operations and increase financial reliability. They possess knowledge with laws and regulations which pertain to the nation. Advocates assist management in identifying areas which require regular inspection. They study about the organization and maintain records of the companies’ income and manage their assets. They identify the trouble spots which are not properly designed and conduct an assessment. They conduct repetitive tests to check the integrity of the controls and ensure optimum functionality. They observe the processes and controls and suggest solutions to areas which require improvement.
The main role of appointing an asset auditor is to analyze the probability of potential risks which pose a threat to the client. Auditors prioritize their projects according to the level of potential risk. They modify their inspection process to level of risk involved. They come up with a plan which aims at minimizing the risk of loss to the property. An actuary analyses the client’s fixed and movable resources and plans how to proceed with the inspection process. During the process the accountant gathers all records pertaining your resources and device an action plan. They set goals related to fixed assets and ensure that their accounts are properly valued. Accountants review the final report for any inconsistencies and draw conclusions. They make sure that there are no taxes which are due to be paid and also analyze damaged and unusable properties to discard them. Some popular locations to find asset auditors in UAE are Sheik Zayed road and Al Hawai tower.