Audit firms are one of the most important service providers which are easy to setup and have demand in the industry. The industry has a lot of competition but at the same time, the huge customer base is there. The audit firms are growing very fast and have 22% projected rate till 2018. Before setting up audit firm in Dubai- Abdul Hussain & Associates, plan carefully and develop good relations with clients which is very important for the business success.
Before setting up an auditing firm, finding partners is very crucial. The main objective of the audit firm is to do the accounting of daily transactions, records and making financial reports. Contact with different clients and offer them accounting services at the good rate. It will take time but experience and good rate can attract a lot of partners.
It is better to have legal experience before opening an audit firm as you can provide them to customers for free. You can assist them in filing tax returns and VAT registration.
It is better to make the list of accounting services you are offering. Make the rate fixed and standard for all services. However special discounts can be given to old clients to retain them.
As an audit firm, you can offer the following accounting services:
Advance accounting services can also be offered such as:
Today clients want quick and accurate work from audit firms. You should know the accounting software such as ERP, QuickBooks, MS excel which are very important for analysis and reporting.
Marketing is very important to make the business successful. You have to make clients aware of your business. In the marketing strategy, focus on work quality and price as per the customer budget.
By keeping all the above mentioned points in mind, you can successfully setup an audit firm in UAE. Due to expo2020, employment opportunities, growing economy, zero taxation; safe place for business, interaction with different firms UAE is the best place to invest in an audit firm. In UAE audit is compulsory and companies make the best use of audit firms.