HAMG Consultancy Group
HAMG Consultancy GroupHAMG Consultancy GroupHAMG Consultancy Group
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Supply subject to VAT

Supply subject to VAT

Value Added vat is imposed on the supply of goods and services for consideration during the course of business by any person within the country, provided that the supply is not exempt from tax. Supply, its types and conditions were specified in Title Three of Federal Decree-Law No. 8 of…
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Stages of the Audit: Audit Execution (Part iii)

Stages of the Audit: Audit Execution (Part iii)

The audit execution stage(or so called “Field Work”) is a critical phase in the audit engagement process, following the planning phase. During this stage, auditors perform substantive testing, evaluate internal controls, and gather sufficient audit evidence to form an opinion on the financial statements’ fairness and compliance with accounting principles.…
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Stages of the Audit: Audit Planning

Stages of the Audit: Audit Planning (Part ii)

Audit planning is a critical aspect of the auditing process that lays the foundation for a successful and efficient audit. It involves comprehensive preparation, understanding the client’s business, and assessing risk factors to develop a well-thought-out strategy. The goal of audit planning is to ensure accuracy and compliance with financial…
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Stages of the Audit

Stages of the Audit

An audit is a systematic and independent examination of an organization’s financial records, processes, and activities to ensure accuracy, reliability, compliance, and transparency. It involves evaluating financial statements, internal controls, and operational practices to assess the organization’s financial health, risk management, and overall performance. Its play a crucial role in…
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Emerging Trends in Audit Evidence (Part vii)

Emerging Trends in Audit Evidence (Part vii)

Audit evidence plays a critical role in providing assurance to stakeholders regarding the accuracy and reliability of financial statements. As technology advances and business practices evolve, new trends in audit evidence are emerging, transforming the way auditors obtain and evaluate evidence. This part explores some of the key emerging trends…
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