VAT (Value Added Tax) has been part of doing business in the UAE since 2018, with a standard rate of...
In today's fast-paced business world, especially here in the UAE, it's super important for companies to be open and honest about their finances. This is where auditing comes in. Auditing is a key process that makes sure a company's financial reports are accurate, dependable, and follow all the local and global rules.
At Shuraa Tax, we get how complex the UAE's business rules can be. That's why we're here to offer top-notch audit services in UAE. We don't just help you meet legal requirements; we also give you smart advice to help you make better business choices. Our team of expert accountants and auditors has tons of experience and a deep understanding of the local market.
Auditing plays a critical role in the UAE’s business ecosystem. It's a legal requirement for many companies and serves as a cornerstone for:
Ensures businesses meet UAE Commercial Company Law and Free Zone Authority requirements.
Encourages organized bookkeeping and accurate reporting.
Helps in securing bank loans, attracting investors, and gaining supplier trust.
Identifies financial risks and irregularities early on.
Promotes ethical and transparent financial practices.
The legal framework for auditing in the UAE is governed by various federal laws and regulations, including the UAE Federal Commercial Companies Law (Federal Law No. 32 of 2021) and the laws of specific free zones.
These regulations mandate the appointment of an independent auditor for most companies and outline the responsibilities and qualifications of the auditor. Compliance with International Financial Reporting Standards (IFRS) is also a key requirement for most entities in the UAE.
Shuraa Tax offers a wide range of audit services across industries including trading, manufacturing, consulting, construction, logistics, real estate, F&B, and healthcare.
An external audit is an independent evaluation of a company’s financial statements by a third-party auditor. It is often mandatory for businesses registered in the UAE mainland and most free zones. The primary purpose is to provide stakeholders, such as investors, banks, and government authorities, with a true and fair view of the company’s financial health.
Internal audit is a systematic review of a company’s internal processes, controls, and risk management systems. Unlike external audits, it is not legally mandated but is highly recommended for medium to large businesses. The goal is to improve efficiency, detect operational or financial risks early, and support strategic decision-making.
Comprehensive review of VAT records, returns, and invoices to ensure FTA compliance and avoid penalties. At Shuraa Tax, we ensure accurate VAT calculations, input-output reconciliation, and documentation as per UAE VAT Law to protect you during Federal Tax Authority inspections.
This is not an audit type itself but a support service during an official tax audit by the FTA. The FTA may initiate a tax audit at any time to ensure tax compliance. Businesses must be ready to provide detailed documentation such as tax invoices, accounting records, and reconciliation reports.
A forensic audit is a detailed investigation aimed at detecting fraud, financial irregularities, or illegal financial activity. It involves tracing suspicious transactions, analysing digital records, and documenting evidence that may be used in legal proceedings. This audit is typically conducted when there’s suspected misconduct, embezzlement, or internal fraud.
Assessment of adherence to sector-specific rules, international standards, or environmental and safety protocols. We help businesses comply with laws such as Anti-Money Laundering (AML), industry regulations, and internal corporate policies.
Liquidation audit required when closing a company in the UAE to ensure all liabilities are cleared and processes are documented. It includes preparing audited financials, finalizing asset/liability statements, and coordinating with the liquidator to complete deregistration with the relevant authority.
A RERA audit is a specialized audit required by the Real Estate Regulatory Agency (RERA) for developers and property management firms in Dubai. It ensures that all financial transactions related to escrow accounts, service charges, and project development comply with RERA guidelines.
Audit services in the UAE involve a certified audit firm reviewing your financials and issuing a detailed report that:
Many regulatory bodies such as DED, FTA, MOE, and free zone authorities require submission of such audit reports.
Hiring a licensed and experienced audit firm like Shuraa Tax can help you:
Our step-by-step audit process ensures minimal disruption and maximum clarity:
We begin by understanding your business, its industry, and its specific risks. We establish a clear scope and timeline for the audit.
We identify and assess potential risks of material misstatement in your financial statements.
Our team performs detailed testing of your financial records, transactions, and internal controls. This includes substantive testing and analytical procedures.
We review our findings, analyse the evidence gathered, and assess the overall fairness of the financial statements.
We issue our independent auditor's report and a management letter containing our observations and recommendations for enhancing your internal controls and business processes.
In addition to expert audit services in Dubai, Shuraa Tax offers a full suite of taxation services to help businesses in the UAE stay compliant, efficient, and financially sound.
Stay ahead of audit requirements and financial regulations with expert support from Shuraa Tax. Reach out to us today and ensure your business remains transparent, accurate, and compliant.
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A group of experienced and qualified tax agents, accountants, auditors & finance advisors based in Dubai, UAE.
