Expert Auditing Services in Dubai, UAE
Any company that operates in Dubai or any other emirate in the UAE needs to maintain iron-clad financial records. Financial audit services in UAE are mandatory when it comes to the integrity and transparency of your company’s finances. Shuraa is a leading financial auditing services provider and among the top audit firms in Dubai, UAE.
Shuraa’s audit vertical offers a comprehensive range of auditory services as well as other business advisory services so that you can leave behind the worries of managing your finances and look after what matters the most: your business.
Why do UAE companies require auditing services?
As per the Federal Decree Law 32 of 2021, Joint Stock companies and LLC companies in the UAE are required to appoint an auditor and conduct annual audits mandatorily. In simple terms, a financial audit is the appraisal of any business entity’s financial statement. The purpose behind it is that properly audited financial statements help improve the authenticity, reliability and credibility of your company. With a healthy audit, business owners can also undertake profitable and growth-oriented decisions for their business.
As the UAE is making strides to come at par with international trade practices, it is gradually introducing fiscal reforms in the form of VAT and Corporate Tax. In lieu of these tax developments, it is essential that all corporate entities maintain accurate and compliant financial statements that have been verified via an audit. Additionally, certain businesses and tax registrants that have an annual turnover exceeding AED 50 million and all qualifying free zone entities also need to mandatorily submit audited financial statements as per UAE corporate tax regulations. All these entities must therefore avail audit services in UAE.
Company Auditing Services offered by Shuraa
- Statutory Audit
- Internal Audit
- Audit Certification
- Compliance Services
- Business Advisory Services
Shuraa’s auditors specialise in providing comprehensive statutory audit services in compliance with UAE’s regulatory requirements. We have a team of certified auditors who meticulously examine your company’s books, financial statements and accounts. They will ensure the necessary accuracy, transparency, and adherence to contemporary accounting standards and legal frameworks. We provide fair and reliable financial reporting thus providing stakeholders confidence in your company’s financial prowess.
Shuraa’s internal audit services help businesses to strengthen their internal controls, risk management, and governance processes. We conduct thorough assessments of your company’s operations; help identify potential risks and inefficiencies and help control gaps within the organisation. We will provide insights and recommendations to help streamline processes, enhance internal controls, improve operational efficiency. Shuraa, as your partner will proactively mitigate risks and ensure an impartial and reliable audit for your firm.
Businesses that want to operate successfully in the UAE need to ensure that they are certified to do so. Depending on the nature of the business, Shuraa experts, who are leading auditors in Dubai, will help you obtain various certifications to ensure your organisation’s adherence to industry standards and regulations. Our experts will guide you throughout the entire process and help you meet all the necessary requirements and documentation. Additionally, our auditors in Dubai will conduct appropriate assessments, suggest improvements, and assist in the implementation of the best practises to achieve your certification.
Shuraa offers expert compliance services to ensure your company meets all relevant regulatory requirements and obligations in the UAE. We help you stay updated with the constantly evolving legal and regulatory landscape. We will conduct compliance assessments, develop custom curated compliance programs, and implement robust internal controls.
Business Advisory Services
Shuraa also provides end-to-end business advisory services that outline strategic guidance and actionable insights to help achieve your financial goals. Our expert auditors analyse your financial performance, research market trends, and observe the competitive landscape to offer personalised solutions.
Shuraa Tax offers valuable ad-hoc services such as financial planning, feasibility studies, business valuation, expansion strategies, and mergers and acquisitions. With our professional advisory services, you can make informed decisions, optimise your operations, and unlock potential growth opportunities within the evolving UAE corporate environment.
Importance of Audit Services for UAE Companies
An attested audit report is essential for the statutory compliance as well as establishing business credibility before investors, shareholders, third party stakeholders, banks, government agencies and authorities. For companies to successfully operate in the UAE, they will need to acquire specific certifications and government services that mandate the submission of audit reports.
An example of this is the Corporate Tax Residency Certification. Shuraa Tax Consultants are certified auditors who will thoroughly review your company’s internal policies, revolutionize the accounting systems and give experts advice on strengths, weaknesses, opportunities and threats (SWOT). Since the implementation of the Corporate Tax regime in the UAE, a financial audit is recommended for all commercial entities operating in the country.
Why do companies need to hire audit firms in Dubai?
The United Arab Emirates is home to entrepreneurs from across the world. While operating their businesses as foreign expats, they may not necessarily be familiar with the rules and regulations of the UAE. The government requires all companies operating within the UAE to be compliant with their mandates. Hence, this becomes one of the main reasons to get professional auditing services in Dubai and conduct regular audits. Here are some of the chief reasons why you should get audit services in Dubai with Shuraa Tax Consultants and Accountants:
- Compliance: Shuraa helps reduce regulatory risks through audits while ensuring compliancy with latest UAE laws and regulations.
- Financial Accuracy: Shuraa Tax is among the top 10 accounting firms in UAE that prepare accurate and reliable financial statements for your Dubai business.
- Fraud Detection: Audits can uncover fraudulent activities such as embezzlement, misappropriation of funds, financial irregularities, etc.
- Internal Control Evaluation: An audit can evaluate how effective the internal controls of your organisation are, along with protecting assets and fraud prevention.
- Risk Management: Businesses are prone to operational, strategic, or financial risks that can be circumvented with the assistance of regular audits.
- Performance Analysis: Make sure your internal departments are functioning smoothly, your processes are effective, and operations are efficient.
- Effective Decision Making: Get expert insight to productive management strategies on the basis of data driven information.
- Contract Compliance: Shuraa offers expert audit services in Dubai, including maintaining contractual agreements with stakeholders (contractors, partners, vendors, suppliers, etc.), preventing breaches and avoiding disputes.
- Stakeholder Synergy: Financial audits result in transparency & accountability before investors, partners, clients and other third-party stakeholders.
- Growth & Improvement: Regular audits improve the company’s fiscal health by identifying weak processes and promoting better and efficient operations.
- Due Diligence: UAE often requires mandatory audits during mergers, acquisitions, or partnerships as an impartial evaluation of financial health, risks and liabilities of the core business.
- Corporate Governance: Company auditing services in UAE can foster better corporate governance and promote ethical business operations within any organisation.
- Risk Mitigation: Shuraa’s auditors in Dubai assist corporations in plugging potential risks and weaknesses in their organisation through diligent mitigation and adapt productive countermeasures.
- External Requirements: Third-party stakeholders such as banks or government authorities often have additional requirements to meet such as funding, insurance, or compliance. Shuraa Tax is among the leading audit firms in Dubai that helps you meet these requirements.
- Regulatory Requirements: Depending on the nature of your business and the kind of activities you trade in; UAE requires specific industries and entities to legally conduct regular financial audits from certified professionals that match industry regulations and standards.
Get your finances sorted with the top auditors in the UAE
Shuraa Tax Consultants and Accountants is an industry leader when it comes to providing comprehensive audit services in the UAE. Among the top audit firms in UAE, Shuraa has catered its audit services to a diverse range of entities in the UAE. Entrepreneurs that come to the UAE are always in need of professional auditing services in Dubai to help them transition seamlessly in the thriving economic environment of the Emirates.
Our certified auditors will be there with you every step of the way from preparing all your documents, preparing reports and meeting compliances. We will thoroughly delve into your organisation’s financial records for auditing and analysis. Call us at +971 508912062 or you can send an email to email@example.com for the best audit services in UAE.