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Audit Services in Dubai UAE

Auditing Firms in Dubai, UAE

In simple terms, audit and assurance is the assessment of a company’s accounts to establish credibility with the financial information for the benefit of the owners and shareholders of the company for them to make better decisions. According to Federal Law No. 2 of 2015 or the UAE Commercial Companies Law, every company is required to assign a licensed auditor that is registered under the Ministry of Economy for the auditing of their financial affairs.

Whether you’re on the lookout for regular or frequent audit service in UAE or you need a one-time service for a certain circumstance, then Farahat & Co has the expertise and the experience to help you in getting the job done!

There are a lot of reasons why you would seek out our team’s help. This includes government regulations, one of the requirements of your company’s by-laws, as well as to obtain approval for lending from a financial or banking institution. However, there is only one good reason why you would want to call us: our team is the best with what they do.

Our audit service in UAE include:

  • Maintenance for the setup of an internal audit department that’s efficient;
  • Accounting and audit consulting services;
  • Restatement of a company’s accounting records according to standards of UAE and in full compliance with GAAP and IAS/IFRS;
  • Organizational, operational, and financial audit under statutory and international regulation

We work with private and public companies, non-profit organizations, and closely held corporations. Our team has experience in various industries and business sectors, including but isn’t limited to the following:

Industries and business sectors, including but isn’t limited:

  • Medical and healthcare
  • Construction
  • Manufacturing
  • Restaurants (food and beverage)
  • Service industries
  • Real estate
  • Distribution and wholesale
  • Telecommunications
  • Transportation

Aside from this, there are furthermore reasons why financial audit is important for your business.

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Audit firms in Dubai

Being one of the leading audit firms in Dubai, we offer audit and assurance service to all kinds of businesses from all sectors (construction, advertising, banks, offshore companies) regulated by the Dubai Economic Department and based anywhere in Dubai including the free zones—Jebel Ali Free Zone (JAFZA), Dubai Knowledge Village, Dubai World Central, Dubai Airport Free Zone (DAFZA), Jumeirah Lakes Towers (JLT), Dubai Silicon Oasis (DSO), Dubai Multi Commodities Center (DMCC), TECOM, Media City, Dubai Internet City, etc.

our Some of the best CPAs in Dubai are part of our team, Our audit firm in Dubai also handle VAT accounting for its impending implementation on the first day of January 2018, payroll and HR solutions for all your HR duties and payroll processes that need to be done, and bookkeeping and accounting services for your accounting necessities.


Audit Firms in Abu Dhabi

All industries in any part of Abu Dhabi even in the free zones, namely Abu Dhabi Airport Free Zone, Abu Dhabi Zones Corp, Abu Dhabi Ports Company, Abu Dhabi Global Market, Industrial City of Abu Dhabi, Masdar City, and TwoFour54, are all welcome to take advantage of our free consultation with regard to audit and assurance services as we are also one of the leading audit firms in Abu Dhabi. Also, we can assure you that the service will be overseen by a CPA in Dubai who has various experiences in the matter. To know more about our services Click here 


Audit Service in Sharjah

Being one of the major audit firms in Sharjah as well, we extend our services from Dubai and Abu Dhabi to this Emirate. From the mainland to free zones—Hamriyah Free Zone, Sharjah Airport Free Zone (SAIF Zone), USA Regional Trade Center Free Zone—, our audit and assurance services are offered to each kind of firm that needs to know the current state of their company to benefit them in having their business grow with international standards. The best CPA in Dubai from our team will certainly handle your affairs meticulously as you expect us to. To find more about our services Click Here


Audit Service in Fujairah

Our audit and assurance services can cover all kinds of business fields regardless if they are in the mainland or free zones (Creative City Fujairah, Fujairah Free Zone) or even an offshore company, making sure that you are complying with the important matters and anything with regard to government regulations. Since we are one of the leading accounting firms in UAE, our services are available to all the seven Emirates of the UAE. Our team is composed of some of the best accountants and auditors in UAE, making us part of the list of certified audit firms in Dubai. Click here to read more about our audit services in Fujairah

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Types of Audit Services Offered

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Internal Audit (Operational Audit)
However, there are various types of audit performed in the organizations of Dubai. An internal audit, also known as operational audit gives the organization an assurance with regard to the effectiveness when it comes to internal controls, risk management, and governance in achieving the company’s objectives.
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External Audit (Financial Audit)
An external audit that is also termed as financial audit, deals with the analyzation of a company’s financial affairs. This is the most common type of audit. External audit is about investigating the financial statements of an organization by an external auditor to establish truth and fairness.
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Statutory Audit
Statutory audit is a legally required assessment of a company’s or a government’s financial data, establishing its accuracy. Statutory audit serves the same purpose as any other audit in that it analyses financial information such as financial transactions and records.
Auditing Firms in Dubai

Leading Auditors in Dubai, UAE

As one of the leading chartered accounting firms in Dubai, UAE and being a certified internal auditor, we have more than 30 years of experience in various fields including audit and assurance, trademark registration in UAE and deregistration of company, while being a certified fraud examiner and auditors for owners association in Dubai and doing developers audit in Dubai as well.

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What are Our Auditing Standards?

As most of the audit firms in UAE, we are following the International Financial Reporting Standards (IFRS), a set of accounting standards that are constructed by a non-profit organization named as the International Accounting Standards Board (IASB). It is a known accounting or auditing standard worldwide, being used by companies and becoming a standard global standard.

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Audit & Assurance – Pricing

Package-1

AED 3000PER YEAR Above Fees are exclusive of VAT

UPTO 100TRANSACTIONS PER MONTH

SERVICES COVERED :

Balance Sheet Audit
Profit & Loss Account Audit
Statement of Cash flow Audit
Notes to the Audited Financial Statements
Auditor’s Report
Improvement of Accounting System
Improvement of Documentations
Improvement of Internal Controls
Improvement of legal matters

Package-2

AED 5000PER YEAR Above Fees are exclusive of VAT

FROM 100 TO 500TRANSACTIONS PER MONTH

SERVICES COVERED :

Balance Sheet Audit
Profit & Loss Account Audit
Statement of Cash flow Audit
Notes to the Audited Financial Statements
Auditor’s Report
Improvement of Accounting System
Improvement of Documentations
Improvement of Internal Controls
Improvement of legal matters

Package-3

AED 8500PER YEAR Above Fees are exclusive of VAT

FROM 500 TO 1000TRANSACTIONS PER MONTH

SERVICES COVERED :

Balance Sheet Audit
Profit & Loss Account Audit
Statement of Cash flow Audit
Notes to the Audited Financial Statements
Auditor’s Report
Improvement of Accounting System
Improvement of Documentations
Improvement of Internal Controls
Improvement of legal matters

Package-4

AED 10000PER YEAR Above Fees are exclusive of VAT

FROM 1000 TO 1500TRANSACTIONS PER MONTH

SERVICES COVERED :

Balance Sheet Audit
Profit & Loss Account Audit
Statement of Cash flow Audit
Notes to the Audited Financial Statements
Auditor’s Report
Improvement of Accounting System
Improvement of Documentations
Improvement of Internal Controls
Improvement of legal matters

Package-5

AED 12500PER YEAR Above Fees are exclusive of VAT

FROM 1500 TO 2500TRANSACTIONS PER MONTH

SERVICES COVERED :

Balance Sheet Audit
Profit & Loss Account Audit
Statement of Cash flow Audit
Notes to the Audited Financial Statements
Auditor’s Report
Improvement of Accounting System
Improvement of Documentations
Improvement of Internal Controls
Improvement of legal matters

Package-6

STARTING AED 16500PER YEAR Above Fees are exclusive of VAT

2500 AND ABOVETRANSACTIONS PER MONTH

SERVICES COVERED :

Balance Sheet Audit
Profit & Loss Account Audit
Statement of Cash flow Audit
Notes to the Audited Financial Statements
Auditor’s Report
Improvement of Accounting System
Improvement of Documentations
Improvement of Internal Controls
Improvement of legal matters
List of Financial Statements used in Auditing of company accounts below:

Financial Statement Audit

The review of a company’s financial statements for the organization to have an assurance coming from an external auditor that the financial statements are in accordance with accounting standards.


Balance Sheet Audit

The information in a company’s balance sheet is examined to make sure that it is accurate, verifying each item that is recorded.


Annual Report Audit

This is consisted of an external auditor’s opinions regarding the result of the examination of a company’s financial statements.


Profit and Loss Statement Audit

The revenues and expenses recorded in the statement is reviewed to ensure the accuracy of each item.


Cash Flow Statement Audit

The cash and cash equivalents indicated in the statement is investigated by an auditor (audit firm in Dubai), making sure it is precise.

Frequently Asked Questions

What's the difference between internal and external audit?

The main differences between internal and external audit are as follows:

  • Reports from an internal audit are used by company management, whereas reports from an external audit are required by stakeholders, including lenders and creditors.
  • Internal audit examines issues that are related to risks and business practices, whereas external audit examines financial records of a business and an external auditor issues expert opinion from the financial report assessment.


What is the basic purpose of an audit?

Statutory audit is conducted to examine an entity’s financial statements. The objective evaluation allows an expert to provide an opinion on whether financial records present the financial position of the business fairly. An audit also examines whether statements are prepared in the applicable framework, such as IFRS and GAAP.


Why is it important to engage an independent audit firm in Dubai?

It is necessary to engage an independent audit firm in Dubai mainly to ensure objectivity and independence. Without both factors that affect the evaluation of an auditor, an organization may be misled, often resulting to risks being underestimated or worse, ignored.