Forensic Audit Services in the UAE – Special Services for Exceptional Financial Circumstances

Companies must have a completely fool proof system. In this age of global connectivity, every existing business is prone to lose and fail. Trust, reputation and resources often support high-risk matters involving fraud, corruption, accounting irregularities, employee bribery, collaborative management deceit, and compliance issues. These important questions swallowed up much of the business and led to a devastating climax that culminated in the following:

•   Loss of value
•   Costly litigation
•   Threats to Business Continuity
•   Unauthorized use
•   Loss of reputation
•   Misappropriation of valuable company assets

So “trust but verify” is your only recourse!

We at certified VVAS can help your company avoid this dire outcome, providing immediate and actionable insights in the form of a UAE forensic review.

What Is A Forensic Audit?

Forensic audit/accounting uses a company’s accounting records to investigate potential fraud or criminal activity. These services help examine a company’s accounting records and financial information and provide the basis for its evaluation in legal proceedings if necessary. Companies conduct forensic audits to prosecute criminals convicted of fraud, theft, or other financial misconduct.

VVAS is the only audit firm in the UAE and throughout the Middle East that can help you understand that forensic auditing is not only for litigation but also a first-hand means of early detection of fraud and misuse of company assets.

Who Needs Forensic Control in UAE?

What if we tell you that your future uncertain losses can be effectively avoided?

How? Through a detailed and previous investigation called a forensic audit.

If you’re running a business and want to translate complex problems into:

•   Flexible opportunities,
•   Persistent function,
•   Good governance and oversight,

It would be beneficial if you had a qualified and reputable accounting firm to help and guide you in taking steps in anti-corruption, accountability and asset recovery, enabling you to gain the trust of the public and foreign investors.

If your company aims to develop better standards for

• Transparency
• Effective Internal Controls

Risk Management Services in UAE

All you need is VVAS forensic audit services to help you use best practices and applied techniques to prevent and detect errors and unethical behavior for ultimate success.

Why Is Forensic Audit Popular In The UAE?

As you all know, UAE is one of the biggest business and wealth centres. Companies in the UAE have a diverse culture, with employees coming from almost all regions of the world. This vast distinction and diversity, on the one hand, has excelled on the other hand, facing increasing threats of fraud, misconduct, official disputes, and manipulation of internal controls.

Forensic Accounting Services UAE will assist your business in preventing and identifying fraud, misconduct and irregularities and advise on appropriate methods for

• Effective internal controls,
• Reduce trading losses,
• An easy way to avoid and resolve conflicts.
• Prevent criminal activity
• Continuously and accurately monitor activities

Why Is Vvas Used For Fraud Detection/forensic Accounting?

We have over a decade of experience in fraud screening tasks across various industries. Our dedicated team of fraud checkers have the debt knowledge and expertise in accounting and auditing from start to finish to ensure complete coverage of your books. Some of the areas we cover are as follows:

• In-depth analysis of financial statements for double-entry bookkeeping,
• Arrange interviews with personnel for investigation,
• Scrutiny of supporting documents according to the nature of the assignment,
• Forensic Research for Asset Recovery and Funds Tracing,
• A report based on the analysis performed.

Generating Analytics Data for Litigation

• Company survey
• Due diligence
• Compliance and Anti-Corruption Investigations
• Forensic Technical Services
• Financial Reporting Disputes
• False accusation
• Fraud prevention
• Request an audit

Our team of highly skilled forensic accountants possesses exceptional analytical, perceptual, and deductive abilities, enabling them to establish facts, gather and preserve evidence, assist in recovery, and lay the groundwork for criminal or civil proceedings.

Our Forensic Accounting Program

We have certified forensic accountants at VVAS who have been specially trained in forensic auditing techniques and the legality of accounting cases. Our Fraud Examiners work on the following principles:

Within each detail, there is another detail.

This internship has made us one of the few audit firms in the UAE able to examine the tiniest of details and pick out even the most veiled scams.

Our fraud screening procedures include the following:

Investigation Plan: We will prepare a detailed plan before collecting evidence. Setting goals before conducting an investigation always helps to achieve positive results. The goals of our program are to:

• Initial identification of the fraudulent activity being performed (if any)
• Determine the time in which the fraud occurred
• Find out how fraud is hidden
• Identify the perpetrators of the fraud
• Determining losses due to fraud

Gather appropriate and sufficient evidence acceptable to the administration or the courts

Identify weaknesses in internal controls and propose actions that can prevent such fraud in the future.

Evidence collection: Our team will work with the client’s management to collect relevant evidence. This will be a detailed investigation that will help us achieve our goals and give you insight into the “holes” in the control system.

Evidence Gathering Techniques: Our commonly used techniques include but are not limited to:

Computer Aided Audit Technique (CAAT) – identifying fraud through computer programs

Objective techniques – including; – scrutinizing documents – performing reconciliations – checking for unusual transactions, etc.

Analytical programs – These programs will include trend and ratio analysis. We’ll compare data over time or across slides.

Understand and evaluate internal controls. We will conduct detailed testing of controls to identify gaps and weaknesses that lead to fraud or fail to detect fraudulent activity. Interview suspicious individuals in management or staff.

Reporting: Our dedicated team will collaboratively process all evidence and provide a detailed report. The analysis will highlight any inconsistencies in your internal control system as well as instances of fraud and manipulation of assets. We will also provide detailed solutions and tell you how to avoid such situations and considerable losses in the future. The report can also make legal claims if the client wishes.

Advice: Our forensic auditors advise on the most appropriate methods to prevent and detect future mishandling of your assets. We will provide you with the vulnerability details and how to resolve it to avoid future losses.

Court proceedings: Our medical examiners will also be present to explain the evidence collected and how suspects were identified. We will help simplify complex accounting issues and language so they are fully understood and easily noticed when fraudulent or criminal activity has been committed.

Cost Effective Risk Management Solution In UAE

VVAS is always committed to customer satisfaction. We believe in “Great Value for Money”. That’s why we offer customer loyalty and a premium experience at a price that won’t burden you! The cost of each assignment is unique and depends on the nature of the work, the extent of the inspection, the timing of the inspection, and the severity of the alleged fraud. Our packages are very affordable and we believe in friendly negotiation. So feel free to upgrade your booking with us.

But Why Register As A Vvas Chartered Accountant?

If you want to stay ahead of uncertainty and get one step closer to success, VVAS is the only solution! We can help you with the following:

• Manage unknown fraud and criminal activity
• Response to known manipulation blockers and
• Become a successful and winning leader

VVAS is one of the largest audit firms in Abu Dhabi, Dubai, Sharjah, and all other states of UAE with Chartered Accountants, with Chartered Accountants, Forensic Accountants, Traditional Investigators, Compliance Specialists, E-Discovery, Computer Forensics Specialists, and Cyber Security experts. Our experience in accounting and auditing and our extensive knowledge of the legal framework will guide you in financial misconduct, bookkeeping, regulatory compliance, anti-corruption, weak internal controls, investment schemes, and fraud offenses.

Our expert forensics team has the forensic knowledge of the law, courtroom, dispute resolution, planning, preparation, information gathering and preservation, discovery, reporting, and testimony to take you step by step through

• Misuse Of Assets
• Economic Losses
• Shareholder Disputes
• House Rules
• By Preventing Detecting, And Responding To Fraud
• Bankruptcy And Insolvency
• Insecurity Of Electronic Data
• Through Weak Internal Controls