A financial statement audit is an independent appraisal of the financial statements prepared by the organization. The cardinal objective of a financial statement audit is to provide an independent assurance that the management has, in its financial statements, presented a “true and fair” view of a company’s financial performance. It adds credibility to the reported financial position and performance of the business.
Financial statement audits play a critical role in creating and maintaining investor confidence and can unlock valuable insights into the business.
We – AKW – believe that independent auditors perform the valuable role of being a trusted intermediary between the providers of business information and the users of that information. In the wake of the economic crises and scandals of the past few years, independent auditors are on the cusp of a transformative change. Stakeholders are demanding more transparency, and we are responding - changing how we operate, being proactive in listening to various stakeholders, and embracing analytics and cloud based technologies and new processes that are enabling us to make audit more relevant and continue to raise the bar on quality.
We strive towards high quality, independent financial statement audits, which are essential to maintaining investor confidence. AKW is committed to the greater interest and we seek to provide valuable insights based on a thorough understanding of an organization’s business and industry, and innovative audit methodologies and approaches.
If you would like to understand our core competencies and how we may contribute to your business growth then contact us at +971 56349 1978 or write to us at email@example.com
Due diligence is an investigation or examination of a business or person prior to signing a contract, or an act with a certain standard of care. The investigation or examination could be carried out for a potential objective for merger, acquisition, privatization, or similar corporate finance transaction normally by a buyer. It can be a legal obligation, but the term will more commonly apply to voluntary investigations.
Looking at a target company’s relevant sources of value and risk can increase your chances for a successful transaction. Thorough due diligence is critical, including assessing risk and compliance issues, conducting tax and financial planning, determining cash flows, and identifying hidden costs.
AT AKW, we provide Due Diligence services, to a wide range of corporate and private equity clients. Our situational expertise is complemented by industry and functional experts from across AKW, to ensure our clients receive a seamless and flexible service for all their transactions. Some of the key areas of Due diligence, which we specialise in are as follows
Operational Due Diligence - For Corporates that are acquiring, value is typically realised in the form of synergies, or when they are disposing, from capturing and communicating effective value enhancement propositions for any entities being sold. For Private Equity clients, operational efficiencies and cost reduction continue to be a greater area of focus, both in the area of pre-deal due diligence and in their approach to managing the organisations under their ownership.
Acquisition Due Diligence - Whether you are looking to buy a business in an auction process, with exclusivity or making a speculative approach, you will maximise your ability to make the best informed investment decision if you have access to speedy analysis around the key issues.
Vendor Due Diligence - Investors increasingly expect a greater degree of information before committing their own resources and capital to a sale, when selling your business or division it is essential that you demonstrate your company’s financial strength. We can help ensure that your vendor due diligence reports provide a consistent sales message, whilst maintaining a robust and independent view which will instil confidence in the potential buyers.
Our dedicated sell side professionals are adept at providing vendor due diligence services across a wide range of industries and clients.
We have a network of professionals, both in the UAE and across the globe, who can provide expert guidance to suit your individual needs and business challenges. Working closely with your team, we will help to identify and resolve issues in the divestment process and provide a vendor due diligence report which will enable you to retain control of the process and reduces disruption to the existing business. Our services normally go hand-in-hand with a managed sale process and controlled data room access. We will work with you to agree the scope of work, pulling in expertise as required from our wide range of specialists in the business (tax, operational, commercial, strategic, pensions, IT etc.)
Commercial Due Diligence - Our fast growing Commercial Due Diligence (CDD) team works to provide highly customised commercial transaction support to the M&A process of both private equity and corporate clients. Our rigorous methodology can investigate the following areas - Industry status quo and trends, Market environment, Company capabilities, Competitive landscape, Likelihood of achieving projections.
I.T. Due Diligence - IT is increasingly a key factor in enabling post deal business development initiatives, and successful integration and separation programmes. At AKW, we have a range of pre and post transaction core services, tailored to suit individual client’s challenges, to help ensure that IT is a successful enabler for the transaction lifecycle.
We regularly work with both corporate and private equity investors, on both the buy and sell-side of transactions, and on IPOs. We have a dedicated IT Due Diligence team and bring in specific technical and industry experts for each transaction from our extensive technology consulting business.
We work either as part of a combined diligence team, together with our financial, tax, operational, commercial, risk, cyber and other diligence colleagues, or on a standalone basis for our clients.
If you would like to find put more about our Due Diligence competence the contact us at +971 563491978 or write to us at firstname.lastname@example.org
Internal auditing is an independent, objective assurance and consulting activity intended to add value and develop an organization’s operations. It helps an organization to achieve its objectives by bringing a methodical, meticulous and disciplined approach to assess and enhance the effectiveness of risk management, control, and governance processes. Internal Auditors’ roles include supervising, evaluating, investigating and analyzing organizational risk and controls; and reviewing and confirming information and compliance with policies, procedures, and laws. Working together with management, the internal auditors provide assurance that as far as possible risks are significantly reduced and that the organization’s corporate governance is forceful and capable. In addition, internal auditors make recommendations; when there is room for improvement.
With AKW's Internal Audit Solutions, you’ll have a partner who thinks about risk in the context of your business. We apply a business lens to your challenges and opportunities, and draw on our experience, sector insight and global business acumen to help you get more out of your investment in internal audit. Our sourcing solutions for internal audit can not only help improve your organization's internal financial, business and IT controls, but also turn your internal audit function into a strategic asset.
In an expanding risk landscape Internal Audit has emerged as a critical lever for change. Now, more than ever, it needs to rise to the challenge and demonstrate its value. At AKW, we are driving Internal Audit innovation merging the skills of our people with a robust, leading edge Internal Audit approach and state-of-the-art technology. We tailor our solutions to match the individual business needs of our clients. We help you look deeper and see further considering areas like your organisation’s culture and behaviours to help you improve and embed control. In short, we make sure every hour we spend working with you is impactful, addresses the right risks to add maximum value to your organisation.
For further information contact us at +971 563491978 or write to us at email@example.com
Investigative Auditing consists of the detection, tracing, quantification and prevention of fraud, money laundering and terror finance. Investigative Auditing involves the examination of accounts and the use of accounting procedures to discover financial irregularities and to follow the movement of funds and assets in organizations.
An investigative audit is the same as a forensic audit. In forensic auditing, accountants with specialized knowledge of both accounting and investigation seek to uncover fraud, missing money, negligence and/or malfeasance. When fraud or theft is uncovered, the investigative auditor compiles evidence and is often asked to testify if the individual responsible for the theft is eventually prosecuted. In addition, an audit may be conducted to determine negligence or even to determine how much compensation a misconducted organisation will have to pay.
The Process followed by AKW
The investigation process follows a similar path as a regular audit of financial statements. The steps can include planning, review and a report. If the investigation was undertaken to discover the presence of fraud, evidence is presented to uncover or disprove the fraud and determine the amount of the damages suffered. The findings are presented to the client — and possibly the court should the case go that far.
During the planning stage, the forensic auditing team establishes objectives, such as identifying if fraud has been committed, how long it has been going on, the parties involved, quantifying the financial loss and providing fraud prevention measures. While gathering evidence, the team collects evidence in the proper manner in order for it to be used in a court case. There are various techniques used to gather evidence. A report is produced for the client with the findings. Lastly, those involved in the forensic audit may be asked to present their findings to the court.
AKW's Global Expert team led by expert Fraud investigaor, Faisal Ahmed, having 18+ years experience in KPMG, PwC London and HSBC MENA - has worked for several top MNC's and niche orhanisations. and uncovered several types of fraud. The most common involves theft, including cash, inventory and fraudulent payments. Another type of fraud is corruption, such as a conflict of interest, bribery and extortion. The last major category is financial statement fraud. This relates to misstatements of the financials of a company.
AKW has managed to undertake the global challenge of investigating the growing menace of frauds and white-collar crime in Global and SME business establishments. With vast experience in the field of forensic accounting and investigative audit for many decades, AKW's forensic investigation wing has educated over 500 business establishments on how to prevent, detect and investigate frauds and white-collar crimes, and promoted anti-fraud awareness to actively combat this growing menace. AKW also imparts education in the intricacies and practical aspects of forensic accounting, investigative audit and emerging issues and on how to align new business methods and technology with existing processes. The primary objectives being to put in place an appropriate and meaningful controls and practices to prevent any wrong. AKW is a one stop destination that provides complete Anti-Fraud Education to promote Fraud Risk Management Strategy for prevention, detection & investigation of frauds and white-collar crimes.
For our valued clients this arm is a one stop destination for dispensing practical solutions and End-to-End strategies for combating frauds. AKW focuses on Fraud Investigation, Forensic Accounting Support & Investigative Audit, Formulation of Fraud Risk Management Strategy, System Evaluation & ERP Application Analysis, Data Protection & IPR Audit, Litigation Support & Expert Witness Testimony.
For further information contact us at +971 56 349 1978 or write to us at firstname.lastname@example.org
AKW offers excellent expertise in Financial Services especially in AML and Risk Management. Their service is highly valued and we feel comfortable working with them and are looking forward to many more years of business together.
Expertise in Financial Services in Anti Money Laundering and Risk Management