Financial Statements Audit

Appointing an external auditor to audit your financial statements is more than just complying with the commercial law in UAE. It adds credibility to your financial report and helps you unlock valuable insights into your business.

Why you should consider appointing Al-Sharid as your external auditor?

We’ve got a well-versed team of financial statement auditors that have broad experience across many different industries which means our team will really understand your business. You’ll notice this in the time-efficient work done and the quality of our management letter. You’ll never be behind your financial report signing deadline with our service.

Our approach to providing financial statements audit services

It all begins with matching you with the audit team that is most experienced in your industry. Our team then arranges to meet your personnel to learn more about your business. You’ll love talking to our team who have been contributing to the success of other businesses within your industry.

This is accompanied by a study of external factors affecting your company. We do this because we conduct our audit according to a risk-based audit approach. Under such an approach, more attention is given to the identification of risks affecting your company.

We comply with the International Standards on Auditing set by IAASB and the IESBA’s Code of Ethics.

Our firm strives to be among the best audit firms in the UAE and we have designed our audit engagement processes in compliance with International Standard on Quality Control (ISQC) 1 and world-class best practices to ensure our clients are getting the best value of our work.

Our team of experts has the right experience and knowledge to help your company achieve its objectives

Does my company have to get its financial statements audited?

According to Article (27) of Federal Law No. (2) of 2015 AD On Commercial Companies, “Each joint stock or limited liability company shall have one auditor or more to audit company’s accounts annually. Other companies may appoint an auditor according to the provisions of this Law.”

Are there any other benefits of getting my financial statements audited?

Not only will you have complied with the law. Also, by having your financial statements audited, this will enable you get some invaluable insights into your company. The weaknesses our auditors might spot in your internal control system are also opportunities for your business to become more viable in achieving its objectives, when resolved. Getting your financial statements audited will enable you to get an In-Country Value certificate for your business. Sometimes, some parties you might contract with, might request to review your financial statements. They will only depend on them if they were audited.

Can you also compile the financial statements for my company?

According to the R601.5 paragraph of the International Code of Ethics for Professional Accountants, “A firm or a network firm shall not provide to an audit client that is not a public interest entity accounting and bookkeeping services including preparing financial statements on which the firm will express an opinion or financial information which forms the basis of such financial statements…” unless certain strict conditions are met. Also, the 601.5 A1 paragraph, includes some exceptions under which we might be able to provide you with a compilation service, this is however a matter of discussion. Give us a call so we can discuss your situation.