Audit and Assurance Services
A strong independent assurance provides critical information for investors and other stakeholders, a clear perspective to Audit Committees and timely and constructive input to the Management. Our commitment to delivering high-quality assurance services is at the heart of what we do. And because we understand that, to achieve your potential, you need a tailored service as much as a consistent methodology, we work to give you the benefit of our deep sector knowledge, our full subject matter knowledge and the latest insights from our work worldwide.
Financial statement audit
We adapt our audit services to fit your unique needs, but what doesn’t change is the exceptional service quality we deliver to all our clients. Whether you’re already at the top or you’re on your way up.
At BMS Auditing, our Financial Statements audit lends credibility to our clients’ financial statements, as our auditors offer more to an assignment than merely ticking boxes. Through our global network, they have access to the knowledge of industry developments and international trends, which provides them with intrinsic awareness of the global marketplace and required local standards.
Our risk based audit approach is applied consistently that fully complies with international auditing standards. We provide a consistent audit by assembling the right multi-disciplinary team to address the most complex issues, using a proven global methodology and deploying the latest, high quality auditing tools and perspectives.
IT risk assurance
In an ever-changing information technology world, IT and financial reporting are becoming increasingly complex as there is a greater reliance on the IT systems and processes. Attention is required on the design and operation of controls which helps the management to have accurate, reliable information for financial reporting and decision-making process.
There is a need for greater emphasis on system controls and a requirement for independent assurance on the design and operating effectiveness of internal controls. Our assurance team helps you to evaluate the controls surrounding your financial reporting process in alignment with your business process and IT controls with services such as:
- A comprehensive information system audit
- IT general control reviews
- ERP applications reviews focusing on financial reporting
- Pre and post implementation reviews
- CAAT (Computer Assisted Audit Techniques)
Agreed Upon Procedures
Agreed-upon procedures are engagements undertaken in accordance with the International Standard on Related Services (ISRS 4400) applicable to agreed-upon procedures, in which an auditor is engaged to carry out specified procedures designed by an entity or any appropriate third parties, agreed and to report on factual findings.
We provide specialized financial reporting in a variety of situations where your company desires independently verified and reported information, such as inspection of documents or transactions for specific characteristics, confirmation of specific information with third parties, or comparison of data to a defined standard.
The fact that we are the Registered Auditors in All the Malls in the UAE for Agreed upon Procedures- Certification of Sales Audit Report has made us a distinguished Audit Firm in the UAE.
Internal Control Design & Review
The role of the internal audit function is critical for the success of any risk management framework within an organization. The main obligation of internal auditors is to evaluate whether other risk systems and controls in place within the firm are operating effectively to manage and mitigate risks or not.
Our internal audit specialists adopt a risk-based approach in evaluating the client’s operational effectiveness, financial systems and controls and compliance with laws and regulations. In addition to that, while preparing our audit plan and report, we also consider challenges and opportunities applicable to the organization. Our internal audit report also contains recommendations for the firm to implement, which are formulated keeping in mind the firm’s objectives and limitations.
The services we offer in this regard include:
- Interim Audit
- Concurrent Audit
- Management Audit
- System Audit
Other Audit and Assurance services includes:
- Management and Internal audit
- Corporate reporting
- IFRS reporting
- Regulatory compliance