Accounting and auditing are specialized fields, but auditing has a wider range than accounting because it requires a solid understanding of various acts, and taxation rules, knowledge of accounting and auditing standards, and communication skills.
Apart from this, confidentiality, integrity, honesty, and independence are basic requirements that must be maintained when performing audit procedures. The reports provided by auditors are helpful to users of financial statements, such as creditors, shareholders, investors, suppliers, debtors, customers, governments, etc. Make rational decisions.
While accounting is nothing less than that, it also requires a solid understanding of accounting rules, principles, conventions, assumptions, and the rules of corporate law and tax law. Auditing is only done when accounting is done correctly; it cannot be ignored.
Similarities Between Accounting and Auditing Firms
Many basic accounting and auditing processes are similar. Both require a solid understanding of basic accounting principles and concepts. Someone usually does both with an accounting degree. Plus, both use basic accounting, calculation, and analysis procedures and techniques.
Both accounting and auditing attempt to ensure that financial statements and records genuinely reflect the actual financial condition of an organization.
Top Big 7 Accounting Firms in Dubai – United Arab Emirates
In today’s world, auditing has become one of the foundations of every company, big or small. Being a business establishment in Dubai means you work in one of the world’s most important industrial centers. Plus, this adds more pressure on your accounts to be financially authenticated and effectively audited.
There are many auditing firms in Dubai, so choosing the best one for your company can be overwhelming. You need to hire the firm that best suits your business needs and financial strategy. Here are the top 7 accounting firms in Dubai:
PwC:
PwC aims to help individuals and organizations create value and develop expertise by providing high-quality assurance, tax, and advisory services. Their reputation gives organizations and stakeholders confidence that audits are more accurate. Additionally, the audit report signed by PwC has a high degree of reliability, trust, and acceptance worldwide.
Deloitte:
Deloitte Touche Tohmatsu is a renowned Big4 audit firm providing global tax, risk management, audit, and financial advisory services. With an estimated 225,400 employees, it is one of the largest recruitment agencies in the Big 4. She has an extensive client portfolio with some of the biggest accounting companies in the UAE and has extensive international experience auditing large corporations.
KPMG:
With a great brand image, KPMG offers quality service and timeless reliability. The company provides services to approximately 155 countries around the world. With all this international experience and diversity, they have different departments to provide specialized tax, audit, insurance, consultancy, and advisory services. So everything your company needs will be available under one roof.
Ernst & Young:
EY is one of the UAE’s best professional accounting services networks. The firm specializes in tax, audit assurance, transaction, and advisory services. With a culture of respect for customers, business integrity, and professional passion, they deliver an exceptional experience through a talented workforce.
BDOs:
Operating in approximately 162 countries, BDO aims to provide its clients with a proactive and flexible approach, helping them overcome all obstacles they face. The company has comprehensive international coverage and subsidiaries on all continents, which can provide unified services for your global business.
Grant Thornton:
Known as GT, it is one of the leading chartered accounting firms with a strong reputation among business clients for providing the highest quality professional accounting, taxation, and auditing services. The company has experience working with clients across a wide range of industries, which allows it to provide a custom service tailored to the needs of each business.
VVAS-Global:
VVAS-Global provides advisory, tax, and audit services to the market. It operates in various countries, drawing on its continental experience and expertise. Moreover, the company can help you save on bulk fees while providing high-quality professional service. With the rapid growth of the number of customers, the company can use technology and knowledge to deal with various complex accounting and auditing issues. Additionally, the firm has audit and assurance experience with a portfolio of reputable clients. The company has strong competitiveness and aims to provide high-quality services to meet customers’ needs. It also operates under a policy of effective communication 24 hours a day, seven days a week.
Baker Tilly:
The firm is one of the world’s most popular and well-known accounting and business consulting networks. The company is dedicated to helping its clients foresee tomorrow while making money today. With experience managing multiple clients, the firm provides audit, assurance, advisory and personal tax services.
Final thoughts
Choosing the company that best suits your needs requires considering what you find beneficial. This decision may vary from company to company and depends mainly on the perception of individual businesses. Only the right choice will get you the correct result.