Audit and Assurance Services involve a systematic examination and evaluation of financial statements, internal controls, and business processes. These services are aimed at providing stakeholders with confidence that the information presented is true and fair and compliant with relevant standards and regulations
Internal audit is an independent review that helps improve an organization's operations by assessing its risk management, control, and governance processes.
In the UAE, certain companies must undergo a statutory audit as required by law to ensure their financial statements accurately reflect their financial position and performance.
In the UAE, an "audit for a purpose" is a specialized audit aimed at addressing specific objectives or requirements beyond general financial statement auditing.
In the UAE, Mainland companies are required to maintain their accounting records for a minimum of five years. This period starts from the end of the financial year to which the records pertain. Proper maintenance of these records ensures compliance with UAE Federal Law and facilitates accurate financial reporting and auditing. For more detailed guidance on record-keeping requirements, please contact us.
An audit can be conducted by a certified auditor who is registered with the relevant UAE authorities. For companies operating in mainland UAE, the management can choose any auditor as they please but for businesses in free zones, the auditor must be approved by the specific free zone authority