Audit Reports & Financial Statements in the UAE

Overview

An audit report gives authorities, banks and stakeholders independent assurance that your financial statements present a true and fair view. In the UAE, audited accounts are commonly required for free zone licence renewals, bank facilities and company changes, and the Corporate Tax law requires audited financial statements for qualifying free zone persons and for taxable persons with revenue above AED 50 million.

We prepare or review your financial statements and deliver your audit report, so the process is straightforward, timely and priced transparently by your turnover.

Who needs this service?

• Free zone companies that must submit audited accounts at licence renewal
• Qualifying free zone persons for Corporate Tax
• Taxable persons with revenue above AED 50 million
• Businesses applying for bank finance or new accounts
• Mainland LLCs that need annual audited accounts
• Companies undergoing liquidation, sale or restructuring

What’s included

• Review of your accounting records and trial balance
• Preparation or review of financial statements under IFRS
• Audit procedures appropriate to your business
• Audit report with signed financial statements
• Support with free zone authority and bank submissions
• Responses to authority or bank queries on the report

Documents we typically need

• Trial balance and general ledger
• Bank statements and bank confirmations
• Trade licence and MOA
• VAT returns and TRN certificate
• Fixed asset register
• Loan, lease and major contract details
• Prior-year audited financial statements
• Inventory and receivables listings

How it works

1. Scope and quoteWe confirm your turnover band and requirements, and give you a fixed fee.
2. Records reviewWe review your accounts and request any missing information.
3. Audit workWe perform the audit procedures and finalise the financial statements.
4. Report deliveredYou receive the signed report, ready for the authority or bank.