In UAE the general requirement for businesses is to maintain their records for no less than five years. The Commercial Companies Law states that the audit of accounts is necessary for all companies in the mainland. Auditing services assist companies with constructing compliant financial statements and communication with banks, investors/shareholders, and other financial partners that their finances are in order. Auditing services are most commonly implemented in a company’s finance and accounting departments.
What is an Audit:
- There are three main types of audits: external audits, internal audits, and Internal Revenue Service (IRS) audits.
- External audits are commonly performed by Certified Public Accounting (CPA) firms and result in an auditor’s opinion which is included in the audit report.
As per the new UAE Commercial Companies Law, Federal Law No. 2 of 2015, Article 27, Chapter 2, every company shall appoint auditors for auditing their books of accounts by a licensed auditor registered under the Ministry of Economy in the UAE. But many companies do not follow this requirement.
We ”Emaraat Business Consultant” provide complete consultation, advise and services in regards of your company audit for different purposes with our certified experienced registered Auditors. After consultation, you’ll feel comfort to take any kind of decision for your company financial issues anywhere in the World.