Audit, for Whatever Reason You Need One
We work with audit firms across the UAE and appoint the right one for the purpose — because the audit a free zone wants is not the audit a bank wants, and neither is the audit you need before selling the business.
Why you might need an audit
Free zone renewal
Most free zones require audited financial statements to renew the licence, within a set window after the financial year end. Miss it and the renewal stalls.
FTA compliance
Corporate tax and VAT records have to stand up to scrutiny. An audit ahead of a filing or an assessment is considerably cheaper than one during an investigation.
Business lending
Banks want audited statements, usually for two or three years, before they will look at a facility. The format matters as much as the numbers.
Mergers and acquisitions
Due diligence on either side of a transaction. If you are selling, a clean audit history is the difference between a smooth deal and a discounted one.
Partner and shareholder disputes
An independent audit to establish what actually happened. Often the fastest way to end a disagreement between shareholders.
Internal and management audit
Where you want to know whether the controls work, not whether the accounts balance.
Also covered
- Statutory audits for mainland and free zone companies
- Group and consolidated audits
- Liquidation audits and liquidator's reports
- Stock and inventory verification
- Fixed asset verification
- Agreed-upon procedures and special purpose reports
- Forensic audit where fraud is suspected
- Internal control and systems review
Appointing the right auditor
Free zones maintain approved auditor lists, and an audit from a firm not on the list will be rejected — which means paying twice. Banks and government entities have their own preferences. We know which firms are accepted where, and we appoint accordingly rather than defaulting to whoever is cheapest.
Tell us why you need the audit before you need it. The purpose changes which firm should do it, and that decision is hard to reverse once the engagement has started.
Ask about audit services
Tell us what the audit is for — renewal, a bank, a sale, a dispute — and we will appoint the right firm.
Questions We Get Asked
Does my free zone require audited accounts?
Most do, within a set window after the financial year end, as a condition of renewing the licence. Miss it and the renewal stalls.
Can any audit firm do it?
No. Free zones maintain approved auditor lists and an audit from a firm not on the list gets rejected, which means paying twice. We appoint according to who is accepted where.
Why else might I need an audit?
Bank lending usually wants two or three years of audited statements; corporate tax and VAT records need to stand up to FTA scrutiny; acquirers run due diligence; and shareholders in dispute often need an independent audit to settle what happened.
How long do I have to keep the records?
At least five years.
When should I tell you why I need the audit?
Before it starts. The purpose changes which firm should do it, and that decision is hard to reverse once the engagement is under way.
Not Covered Above? Ask Us.
Send the question as you would ask it on the phone. One of the team answers it properly — not a template, and not a sales call dressed up as an answer.