Effortless Auditing Services for Your Business in the UAE

Stay compliant and stress-free. Comprehensive, expert-driven auditing solutions tailored for your business needs.
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How it works

Steps in the Audit Process in Dubai

Initial Consultation and Planning

The audit process begins with an initial consultation where we understand your business structure, financial goals, and key operational processes. This helps us assess the scope and nature of the audit, tailored to your business’s unique needs.

Gathering of Documents and Information

We will request all necessary financial documents (e.g., bank statements, financial records, contracts) from your team to ensure transparency and facilitate accurate auditing. This phase ensures that all relevant information is available for the audit.

Review of Internal Controls

Our auditors will review your company’s internal controls to assess the effectiveness of your financial management systems. This step is crucial for identifying any weaknesses or risks in your financial operations.

Fieldwork and Analysis

During the fieldwork phase, our auditors will examine all financial transactions, supporting documentation, and accounting processes. We will verify that your financial statements accurately reflect your business’s performance and ensure that you are in compliance with local regulations.

Audit Report and Findings

After completing the audit fieldwork, we will prepare a detailed audit report. This report will include an analysis of your financial statements, any discrepancies found, and an opinion on the accuracy of your financial records. If necessary, we will recommend corrective actions to improve financial accuracy and compliance.

Review and Finalization

Once the audit report is prepared, we will review the findings with your management team. If there are any issues or improvements suggested, we will work with you to ensure that the audit is finalized and your business is fully compliant.

Submission of Audited Financial Statements

The final audited financial statements are submitted to the relevant authorities (e.g., Ministry of Economy, free zone regulators) to fulfill your legal and regulatory obligations. This step ensures that your business is fully compliant with UAE laws and regulations.

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Documents Required for Audit

Ensure you have all necessary documents ready to avoid delays and penalties
Financial Statements (Balance Sheet, Profit & Loss Statement, Cash Flow Statements)
VAT Returns and Tax Filing Documents for the year
Bank Statements for the audited period
Invoices and Receipts for all business transactions, including sales and purchases
Accounting Records (e.g., general ledger, journal entries)
Payroll Records and Employee Benefit Details
Contracts (e.g., lease agreements, loan agreements, etc.)
Fixed Asset Registers
Shareholder Information (if applicable)
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Frequently asked questions

Why is auditing mandatory for my business in the UAE?
Auditing is required to ensure your financial statements are accurate, comply with local regulations, and provide transparency to stakeholders such as investors, banks, and government authorities. Failure to comply can result in fines and penalties.
How much does an audit cost in the UAE?
The cost of an audit varies based on the size and complexity of your business. Factors such as the number of transactions, industry, and whether your company operates in a free zone or onshore will impact the overall cost. However, it is an investment in the credibility and compliance of your business.
What happens if my business fails to undergo an audit?
Failure to submit audited financial statements can lead to serious consequences, including penalties of up to AED 50,000 for non-compliance with UAE regulations. In some cases, it could also impact your business license renewal, especially for companies operating in free zones.
How long does the audit process take?
The timeline for completing an audit depends on the size and complexity of your business. Typically, the process takes 15 to 20 days, depending on how quickly we can obtain the required documents and information.
Can you help with VAT and tax audits?
Yes, we can assist with VAT and tax audits, ensuring your business complies with the UAE Federal Tax Authority (FTA) regulations. Our services include reviewing your tax filings, verifying accuracy, and assisting with the preparation of tax returns.
Do you provide audits for small businesses?
Absolutely! We work with businesses of all sizes, from startups to large enterprises. Our services are scalable and can be customized to meet the needs of your business.
What are the penalties for non-compliance with auditing regulations?
Penalties for not complying with audit requirements can range from fines to business license suspension, and in severe cases, legal actions may be taken. The fines for non-compliance can be as high as AED 50,000.

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