Services

External Audit

Our team of experienced auditors is committed to providing independent and reliable auditing services, ensuring compliance, professionalism, and confidentiality as your trusted external auditors.
Get a Free Consultation
Services

External Audit

Our team of experienced auditors is committed to providing independent and reliable auditing services, ensuring compliance, professionalism, and confidentiality as your trusted external auditors.
Get a Free Consultation

External/ Statutory Audit Services in the UAE

The significance of auditing in business is widely acknowledged. However, despite its benefits, many small businesses may neglect auditing, believing their company isn’t large enough to warrant the time and resources. Yet, to gain a better understanding of their business and identify current challenges, conducting an audit is essential. A company can opt for either internal or external audits, each with its own advantages and drawbacks.

#1 UAE's Premier External Auditing Services

Experienced Auditors

Industry-Leading Audit Services

Timely Services

Comprehensive Auditing

Transparency and Accuracy

Ensure Compliance

Justin Loach
Oil and Gas Operations Consulting LLC
Auditcare's external auditing services have brought significant value to our business. Their professionalism, expertise, commitment to ensuring compliance and adherence to auditing principles have made them our trusted auditing partner.
Kelly Hand
West One Project Management LLC
Auditcare has proven to be a reliable source for handling our auditing requirements. Their expertise and thorough examination consistently ensure compliance and provide us with a clear and accurate financial picture.
Jai Verma
Agrizz Global DMCC
Auditcare's DMCC free zone audit services went above and beyond. Their timely and precise audit procedures not only gave us valuable insights but also ensured we followed DMCC free zone regulations properly.
Abdalla Obaid Alshamsi
SAH Perfumes LLC
I strongly recommend Auditcare for their excellent internal audit services. They're experts who pay attention to the details, helping us improve our controls, follow the rules better, and avoid potential problems.
Joseph Barron
Outlook Community Management LLC
Happy to recommend them as a great company to work with.
Mohamad Bachier Khoja
Usha Food Trading L.L.C
Accurate and timely financial reporting by the team has greatly simplified my decision-making process..I can see where my money is going. I get full transparency into my books!
Abdi Warsame Mohamed
Al Rawabi Rent A Car L.L.C
TaxDoctor provided comprehensive support in reviewing and supervising my accounting processes. Their team's knowledge and guidance have brought transparency and efficiency to my financial management.
John Besterwitch
Meraki Global Solutions FZ LLC
TaxDoctor's accounting services are top-notch. Their expertise and professionalism have improved our financial accuracy and efficiency.
Philip Hand
West One Contracting L.L.C
Monthly accounting and tax plan saves me money compared to hiring a local accountant and also saves me time since I don't have to manage anyone! As a business owner, TaxDoctor provides me with more time and less stress by taking care of the accounting and tax work..
Majid Hassan Alnaqbi
Majid Alnaqbi General Trading L.L.C
TaxDoctor has been an amazing partner in helping us handle our taxes in the UAE. They really know their stuff when it comes to UAE tax rules, and they've given us the right answers and solutions for all our tax issues. We're really grateful! Thanks a bunch!

Auditcare: Your Reliable External Audit Partner

Expertise in UAE Regulations
Auditcare specializes in external auditing services tailored for the UAE. We possess a deep understanding of local financial regulations, ensuring compliance with UAE laws and standards.
Experienced Team
Our team comprises highly qualified auditors with extensive experience in conducting external audits. We stay up-to-date with evolving audit standards and regulations to provide accurate and reliable services.
Customized Audit Approach
Auditcare offers a customized audit approach that aligns with your industry and operations. We tailor our services to meet the specific needs of your business.
Comprehensive Auditing
We conduct thorough and comprehensive external audits, examining financial statements, internal controls, and processes to provide a holistic evaluation of your organization's financial health.
Transparency and Accuracy
Auditcare prioritizes transparency and accuracy in external auditing. Our goal is to provide precise and reliable audit reports that stakeholders can trust.
Regulatory Compliance
Auditcare ensures that our auditing process complies with UAE audit regulations, reducing the risk of non-compliance and associated penalties.

Our External Auditing Process

Step-1
Step-1

Appointment

Our auditing firm is engaged by the client, where we outline our services, objectives, scope, and appoint our auditors for the external audit.

Step-2
Step-2

Understanding the Client's Business

We deeply understand the client's business, industry, and financial systems, assess their accounting policies, and identify preliminary audit risks.

Step-3
Step-3

Audit Planning

We create a tailored audit plan based on the client's needs, outlining scope, objectives, and timelines, informed by a thorough risk assessment.

Step-4
Step-4

Risk Assessment

Our auditors identify financial risks in the client's business and allocate resources where more scrutiny is needed based on a thorough risk assessment.

Step-5
Step-5

Testing and Verification

During the fieldwork phase, we examine the company's financial records, transactions, and controls, using tests, confirmations, and interviews to ensure data accuracy, including on-site visits when required.

Step-6
Step-6

Evaluation of Internal Controls

We assess the client's internal controls, reviewing their financial reporting, asset protection, and risk management, evaluating both design and operational effectiveness.

Step-7
Step-7

Compliance with UAE Regulations

We adhere to IFRS and UAE regulatory requirements in our audits, ensuring integrity and global best practices.

Step-8
Step-8

Report Preparation

After our audit, we produce a report detailing our opinion on the financial statements, highlighting weaknesses, findings, and recommending improvements.

Step-9
Step-9

Submission of Audit Report

We submit the audit report to the client, who then shares it with shareholders, regulatory bodies, and government authorities, as required by law.

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Ensure Financial Transparency

Understanding External Auditing

External auditing involves the regular examination of a company’s financial records by a qualified professional. It is an independent assessment of financial records carried out periodically to ensure accuracy and transparency. External audits, conducted by third-party auditors, aim to provide an unbiased opinion on whether the financial statements represent a true and fair view.

External auditors have the responsibility of offering an impartial review of the company. Their audit reports provide a comprehensive overview of the business for investors, allowing them to make informed decisions. Moreover, external auditors ensure there is no fraudulent or unlawful activity within the company. Since external auditors are independent entities with no financial interest in the company, their findings and decisions remain impartial.

What is the purpose of External Auditing in the UAE?

Legal Compliance
Companies in the UAE are legally required to undergo statutory audits, ensuring that they adhere to the country's legal and regulatory framework. Non-compliance can lead to legal penalties and reputational damage.
Impartial Recommendations
External auditors offer unbiased recommendations that can propel a business forward. These insights not only foster a better understanding of the company's operations but also enhance the effectiveness of its internal management systems.
Supporting Tax Compliance
Accurate financial statements resulting from external audits assist companies in meeting their tax obligations. This helps prevent tax disputes and penalties and ensures that the government receives its due revenue.
Fraud Detection and Prevention
By scrutinizing financial records and transactions, external audits help prevent financial scandals and fraudulent activities. Detecting and addressing irregularities at an early stage can save a company from significant reputational and financial damage.
Ensuring Accountability
External audits play a vital role in holding a company's management accountable for the accuracy and fairness of their financial reporting. This accountability fosters transparency and ethical behavior.
Ensuring Investor Protection
External audits provide a layer of protection for investors by verifying the accuracy of financial information. This is especially important in publicly traded companies where shareholders rely on accurate financial statements for their investment decisions.
Enhancing Creditworthiness
Companies with a history of positive external audit reports may find it easier to access credit and secure favorable lending terms from banks and financial institutions. Lenders are more likely to extend credit to businesses with transparent and reliable financial records.
Strengthening Stakeholder Relations
External audits build trust and confidence not only with investors but also with other stakeholders such as suppliers, customers, and partners. Reliable financial reporting contributes to stable business relationships.
Transparency in Public Procurement
Government entities in the UAE often require suppliers and contractors to undergo external audits. This ensures transparency and accountability in public procurement processes.

Legal Framework for External Auditing in the UAE

Commercial Companies Law
The UAE Commercial Companies Law mandates that all companies, including free zone entities, undergo an annual external audit. This law outlines the requirements, standards, and penalties for non-compliance.
Auditors' Licensing and Conduct Regulations
The UAE Ministry of Economy regulates auditors and auditing firms, ensuring they meet specific licensing requirements and adhere to ethical and professional standards. Auditors in the UAE must adhere to International Standards on Auditing (ISA), which provides globally recognized auditing standards.
International Financial Reporting Standards (IFRS)
The UAE has adopted IFRS as its financial reporting framework. External audits are conducted in line with these international standards, ensuring compatibility with global accounting practices.

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