BMS Auditing is EMAAR Approved Auditors in UAE. All the shops in the malls that come under the Emaar authority must submit a sales audit report at tenancy renewal. Auditing is beyond just the numbers! It is about declaring the accomplishments and challenges, assuring strong bases for future goals. BMS highlights the What, How, and Why of the changes, so you could be proactive about the challenges.
Approved Audit Firm by EMAAR
BMS Auditing is one of the EMAAR-approved audit firms in UAE whose audit services act as an important connection in the financial chain, and go ahead to help you understand the business and update you about the steps to be taken.
The audit and assurance processes have been going through a constant transformation, utilizing innovative technology to efficiently provide high-quality services, maintaining integrity, and driving value. Being a trusted advisor, BMS connects all the elements to create an impact beyond the expected for the EMAAR businesses.
EMAAR-approved auditors help the businesses in a way that is suitable to the economy of the country, thus maintaining compliance with the law by providing basic requirements. At BMS, we have been delivering quality auditing and accounting services for the past decade. The persistent commitment to working the right way has made them an authority on quality to date!
The change in the Audit and Financial Reporting Framework
The question that aroused was, with the response and recovery from the high impacts of the pandemic, could this be a reason for the change in the audit and financial reporting framework?
Here is the answer: The organizations have started to withdraw from the phase of responding, where techniques were taken across various regions, from delay in reporting to enabling remote general meetings held annually along with electronic signatures, the moment was provided to consider the company’s role as an auditor serving the public interest.
Sales Audit Services For Emaar
There are several luxury malls under Emaar in the UAE in general and Dubai, in particular, that were constructed for the residents. Many retail businesses may be found in those shopping malls, and they are all obliged to do an audit of sales or gross turnover.
It is important to select skilled auditors from the top audit firms in Dubai since sales audits are a necessary yearly requirement for retail enterprises operating in shopping malls.
BMS Auditing UAE is an EMAAR approved audit firm in UAE consisting of highly dedicated professionals with a great ability to deliver industry-oriented services, thus enhancing values. The audit specialists at BMS have the potential to provide efficient and independent reports to its shareholders about the profitability of the company and its state of affairs. The team also provides insights into the areas that require attention to enhance the performance of the business.
Here are the key responsibilities of an auditor in an EMAAR-approved audit firm:
- Assuring the accuracy of daily reports by verifying the backups for proper documentation
- Completing day-to-day revenue balancing and auditing of the business revenue against each department reports accurately and on time
- Verifying that the tax on the business has been run and investigating for defects or errors
- Auditing and verifying the revenue breakdown at each point of business, miscellaneous charges and other incentives
- Reviewing daily revenue reports, by checking for shortages or excess
- Reviewing tax postings from the revenue report and insuring the posting of taxes corresponding to the revenues generated
Sales Audit for Emaar
A sales audit assists mall management in obtaining a complete financial picture of the operations in the malls. They can go on the correct path since the audit report from the Dubai auditors contains suggestions and insights that may be put into practice.
In the UAE, retail audits assist firms in obtaining a precise image of the total sales produced. When sales are weak, store tenants may approach the mall management to discuss a rent reduction using the audited gross sales statement. To make sure the auditor has past retail expertise, it is advised to approach the finest audit companies in Dubai for the sale audit.
Like any audit firm approved by EMAAR, BMS promises to provide high-quality auditing services to its clients irrespective of the nature of their business.