An audit of accounting and financial transactions is an independent review of what your books recorded over a defined period: the entries, the balances, and the supporting documents behind each movement. The aim is not only to find errors, but to understand their effect on the financial statements and on your tax position, and to hand you a report setting out what needs correcting and what needs to change in how the work is done.
Accounting & audit
Audit of accounting and financial transactions
Reviewing entries, balances and supporting documents, with a report of findings and their impact.
Who this service is for
For companies preparing for an external audit or a review by a regulator, for companies that doubt the accuracy of their balances or see recurring differences between the books and the bank, and for anyone preparing to sell the company or bring in a partner who needs a reliable picture of their financial position.
What the service covers
- Reviewing the daily entries and matching them against their supporting documents.
- Reconciling bank accounts and the customer and supplier ledgers.
- Examining the tax treatment of transactions and its effect on the returns already filed.
- Assessing internal controls and identifying the weaknesses that allowed the error.
- A written report of findings, ordered by their impact, with a recommendation for each.
How we work
- Agreeing the period under audit and its scope, including what is examined in full and what is sampled.
- Receiving the books and documents: trial balance, journal, bank statements, sales and purchase invoices, and company contracts.
- Desk and field examination, matching balances against their independent sources.
- Discussing preliminary findings with you before they are finalised, because some are explained by a document that has not arrived yet.
- Delivering the final report with the findings, their financial and tax impact, and correction recommendations.
Regulatory framework
Companies in the United Arab Emirates are required to keep accounting records and supporting documents for the period set by the applicable legislation, and to make them available to the competent authorities on request. This audit is a professional service for the company itself, and is separate from the statutory auditor’s report where the law requires one.
Most of the differences we find are not manipulation, but an entry posted once and never reviewed again.
Frequently asked questions
Does this audit replace the statutory auditor’s report?
No. This is a professional examination for the company’s own management that surfaces errors and their impact. If the law requires a report from a licensed statutory auditor, that is a separate track, and we prepare the file so it passes smoothly.
How long does an audit take?
It depends on the volume of transactions and how well the documents are currently organised. We give you a written time estimate after reviewing the trial balance and the number of entries.
What if the audit uncovers an error in a return already filed?
We explain its impact and set out the statutory route to correct it. Dealing with an error early is always better than waiting for it to surface in a later review.
Free consultation
Book a free consultation
Thirty minutes with an FTA-registered tax agent: we review where you stand and tell you what to fix first, with no obligation.
+971 4 000 0000