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Audit & Assurance Services

Challakkara Zeinuddeen
Responsible Person
Challakkara Zeinuddeen
Partner
Most UAE free zones and mainland regulators require an annual external audit, and beyond that statutory requirement, audit and assurance services give owners, boards, banks and investors independent confidence that the numbers are right. Our team performs external statutory audits, internal audits for control and risk assessment, compliance and forensic audits, agreed-upon procedures, and IFRS advisory — for SMEs, free zone entities, and Indian and international groups with UAE subsidiaries needing audited financials for both local and home-country reporting.

What is it?

Audit and assurance services cover the independent examination of a company's financial statements, internal controls or specific procedures to provide assurance to owners, regulators, lenders or investors.

What this includes

External Audit

External Audit

Independent statutory external audit of your financial statements, meeting UAE free zone and mainland requirements.

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Internal Audit

Internal Audit

Internal audit services reviewing your controls, processes and risk exposure, delivered independently of your finance team.

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Compliance Audit

Compliance Audit

Compliance audits checking your business against UAE regulatory, licensing and sector-specific requirements.

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Financial Statement Preparation

Financial Statement Preparation

IFRS-compliant financial statement preparation — balance sheet, P&L, cash flow and notes — for filing, audit or stakeholder reporting.

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Management Reporting

Management Reporting

Monthly management reports and dashboards giving owners and leadership real visibility into cash, profitability and performance.

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Accounts Payable Management

Accounts Payable Management

Structured accounts payable management — invoice processing, approvals and payment scheduling — to keep vendor relationships and cash flow under control.

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Accounts Receivable Management

Accounts Receivable Management

Accounts receivable management — invoicing, aging tracking and collections follow-up — to shorten your cash conversion cycle.

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Payroll Accounting

Payroll Accounting

Accurate payroll accounting and WPS-compliant salary processing, reconciled into your books each month.

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Accounting System Setup

Accounting System Setup

Accounting system setup and migration — chart of accounts design, opening balances and cloud software configuration — done right the first time.

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Financial Modeling

Financial Modeling

Custom financial models for fundraising, planning and decision-making, built to withstand investor and lender scrutiny.

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Profitability Analysis

Profitability Analysis

Profitability analysis by product, client, project or division to show you exactly where money is actually made and lost.

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Business Valuation

Business Valuation

Independent business valuation for M&A, fundraising, shareholder disputes and succession planning, using recognized valuation methods.

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IFRS Advisory

IFRS Advisory

IFRS advisory on complex accounting treatments, new standard adoption and financial statement disclosure, for UAE companies and groups.

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Risk Assessment

Risk Assessment

Structured financial and operational risk assessment to identify and prioritize the risks most likely to affect your business.

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Due Diligence Audit

Due Diligence Audit

Audit-level due diligence for UAE acquisitions and investments, verifying financial statements and underlying records.

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Forensic Audit

Forensic Audit

Forensic audit and fraud investigation services, providing evidence-grade findings for disputes, suspected fraud or litigation.

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Financial Statement Audit

Financial Statement Audit

Full-scope annual financial statement audit, covering balance sheet, income statement, cash flow and disclosures under IFRS.

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Who needs it?

Free zone and mainland companies with a statutory audit requirement, businesses seeking bank financing or investment, groups needing internal control assurance, and companies facing a specific compliance, fraud or valuation-related audit need.

Our process

  1. 1. Scope the audit type and applicable standards for your entity
  2. 2. Plan the audit and request required documentation and access
  3. 3. Perform fieldwork: testing, verification and control assessment
  4. 4. Issue the audit report and management letter with findings

Timeline

A standard SME external audit typically takes 2–4 weeks from fieldwork start to report issuance; larger or multi-entity audits can take 6–10 weeks.

Cost factors

Driven by entity size and complexity, audit type (external, internal, forensic), number of locations/entities, and quality of underlying financial records.

Benefits

  • - Meets statutory free zone/mainland audit requirements on time
  • - Independent assurance that strengthens credibility with banks and investors
  • - Identification of control weaknesses before they cause real losses
  • - Audited financials suitable for both UAE and home-country (e.g. Indian) group reporting

Frequently Asked Questions

Is an annual audit mandatory for UAE companies?

Most UAE free zones require an annual external audit as a condition of licence renewal, and many mainland companies are required or choose to have one for banking, investor or Corporate Tax purposes. Requirements vary by free zone and entity type, so we confirm your specific obligation.

How long does a typical UAE company audit take?

For a standard SME, audit fieldwork and reporting typically takes 2–4 weeks once records are ready, though this depends heavily on how quickly financial records and supporting documents are made available. Well-organized bookkeeping (ours or otherwise) significantly speeds this up.

Can an audited UAE financial statement be used for reporting to an Indian parent company?

Yes — UAE statutory audited financials, typically prepared under IFRS, can generally support consolidation and reporting requirements for an Indian or other foreign parent company, though timing and specific format needs should be coordinated in advance. We regularly align UAE audit timelines with group reporting deadlines for exactly this reason.

Ready to talk?

Book a confidential consultation with one of our partners to discuss audit & assurance services.

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Ms. Donna Rayson
CEO · Seven oaks British Nursery