Posted on: 21 November, 2018
Author: Bruce Markey
Organizations aim to grow and expand their business in every manner. In order to ensure that this is done in an ethical and rational manner, it is important to establish controls which work in the favor of the business. Such controls that are established within an organization are known as internal controls. Internal controls are very important and every organization should have them well placed. Depending on the size and type of the organization, the internal controls need to be placed. In today’s marketplace, internal audit is of prominent importance. Internal controls and internal audit are inter related. Internal audit helps in the facilitation of compliance with the laws and regulations and gives peace of mind to the management to operate their business in an efficient manner. Internal controls lay a system where the employees and the employers are aware of their responsibility and conduct their operations in an ethical manner. Internal audit helps a business prepare for the external audits which will be carried out on an annual basis.It is a key factor in building strong client relationships. It helps in adhering to the regulations and reduces the fine and penalties. Internal audit in Dubai helps in building strong business relationships while maintaining strong internal ethics and compliance. Professional experts offer services of internal audit which will help you remove any loopholes and build a strong employer employee relationship. If you have efficient internal audit, the external audit will look easy and convenient. There will be lesser number of queries and issues raised by the external auditor if the internal audit is carried out from time to time. It will also help you prepare the final accounts with ease and to comply with the laws of the State.It is ideal to hire the services of experts for the purpose of internal audit as they are well aware about the latest laws and amendments made from time to time. Professionals offer services for internal audit in Dubai and will also help you mitigate risks. Every business faces certain risks that need to be mitigated in order to reduce the losses as much as possible and internal audit can help you do the same. Consider the size and type of your business and build a strong internal control system so as to make the business ethical and efficient.There are a number of taxation rules and auditing rules that you need to abide by and if you have a professional helping you with the same, the task will become much easier. Internal audit is not restricted to preparing the financial statements, it goes much beyond that. It also helps serve a number of issues with ease. Whatever the size and type of your business, internal audit is important and very helpful. Choose the right professionals to help you achieve success and take your business to its potential with strong internal controls and an efficient internal audit team led by an experienced professional from the industry. Source: Free Articles from ArticlesFactory.com Ethics Plus is one of the leading accounting companies in Dubai offering accounting, auditing, VAT advisory, CFO and other advisory services to multi-national companies, small and medium-sized enterprises and individuals. The firm has DMCC approved auditors and experienced CAs. To know more, visit https://ethicsplusuae.com/.