Audit and Assurance Service in UAE is much more than verifying just figures and numbers. Audit and Assurances systematic review and inspection of the Entity’s accounts  & controls. Generally, these are performed by external parties to get a clear view and position on the state of affairs of the company.

Audit and assurance are both critical processes in ensuring the integrity and reliability of financial information, but they serve slightly different purposes. Audit involves the systematic examination of financial records, transactions, and procedures to verify their accuracy, completeness, and compliance with relevant regulations and standards. It aims to provide an independent opinion on the fairness and reliability of financial statements, offering assurance to stakeholders such as investors, creditors, and regulators.

Assurance, on the other hand, encompasses a broader range of services beyond financial statements, including the evaluation of internal controls, risk management processes, and governance structures. It seeks to enhance confidence in the reliability of information and the effectiveness of an organization’s operations, helping stakeholders make informed decisions and mitigate risks.

In summary, while audit focuses specifically on financial statements, assurance provides a more comprehensive assessment of an organization’s systems and processes.