Audit & Assurance Services in Dubai
Veritas Edge Auditors provides statutory audit, internal audit, forensic investigation and ICV certification support to companies across the UAE. The firm is registered with the UAE Ministry of Economy and licensed by the Dubai Department of Economy and Tourism.
Audit Requirements in the UAE
Audited financial statements serve several purposes in the UAE. They support trade licence renewal, form the basis of corporate tax computations, and are relied upon by banks assessing credit facilities and by counterparties in commercial transactions.
Requirements vary by licensing authority. Mainland companies are subject to the UAE Commercial Companies Law, while each free zone sets its own filing deadline and, in most cases, maintains an approved auditor list. Reports issued by firms outside that list may not be accepted.
Our Audit Services
Statutory Audit
External audit conducted under International Financial Reporting Standards and the UAE Commercial Companies Law, for mainland and free zone entities. Deliverables comprise the audit opinion, the financial statements and a management letter setting out control observations and recommendations.
Internal Audit & Risk Advisory
Independent review of internal controls, operational processes and risk management. Engagements cover control design and testing, segregation of duties, approval workflows and authorisation limits. Findings are reported with an assessment of financial exposure and an agreed remediation plan.
Forensic Audit & Fraud Investigation
Financial investigations in cases of suspected irregularity, shareholder dispute or insurance claim. Work includes transaction tracing, reconstruction of accounting records, quantification of loss and preparation of documented findings suitable for use in dispute resolution proceedings.
ICV Certification Audit
In-Country Value certification determines supplier scoring in ADNOC and government tenders. Certificates are issued by certifying bodies appointed under the national ICV programme; Veritas Edge Auditors is not an appointed certifying body. We prepare the audited financial statements and supplier template supporting the submission and liaise with the certifying body through to issue.
Our Engagement Process
Scoping
Review of entity type, licensing authority, financial year end, group structure and the condition of accounting records.
Engagement Letter
Scope, fee, deliverables and timelines confirmed in writing prior to commencement. Any change in scope is agreed in advance.
Information Request
A single consolidated document request is issued at the outset. Outstanding queries are tracked in a central log throughout fieldwork.
Fieldwork
Substantive testing, third-party confirmations and reconciliation procedures performed in accordance with applicable auditing standards.
Reporting
Issue of the audit opinion and financial statements, together with a management letter addressing control observations.
Frequently Asked Questions
Can an audit be completed where accounting records are incomplete?
Yes. Accounting records must be brought up to date before an audit opinion can be issued. Where this is required, the work is scoped and quoted separately. Independence requirements prevent the same firm from auditing financial statements it has prepared, and alternative arrangements are set out at the proposal stage.
Is approval by our free zone authority required?
Most free zones accept audit reports only from firms included on their approved auditor list. Confirmation of our status for a given authority is provided before an engagement is accepted.
Is an audit required for a dormant company?
In most cases, yes. Free zone authorities generally require an annual submission from all registered entities, including dormant and holding companies. Audits of dormant entities are limited in scope and priced accordingly.
How are audit fees determined?
Fees are fixed and quoted following a scoping discussion. The principal factors are turnover, transaction volume, the number of entities and bank accounts, and the condition of the accounting records.
Request a Consultation
Provide your financial year end and licensing authority for confirmation of applicable filing requirements and deadlines.