Audit Support & Compliance – UAE Standards
We provide end-to-end audit support and compliance services, ensuring your business meets UAE Federal Tax Authority (FTA) requirements and international auditing standards. Our goal is to make audits stress-free by preparing accurate documentation, guiding you through the process, and ensuring adherence to all applicable laws.
Legal Framework & Requirements
As per UAE Commercial Companies Law (Federal Law No. 2 of 2015, Article 27), all companies must have their accounts audited by a licensed auditor registered with the Ministry of Economy.
Companies must follow International Financial Reporting Standards (IFRS) for preparing financial statements.
Businesses subject to VAT or Corporate Tax must keep detailed records for at least 5 years (Article 78, Federal Decree-Law No. 8 of 2017 on VAT; Article 54, Corporate Tax Law).
Our Audit Support Services
Pre-audit preparation and review of financial statements
Organising and verifying supporting documents (invoices, contracts, ledgers, etc.)
Liaison with external auditors for smooth communication
Ensuring all VAT and corporate tax records are in order before FTA inspections
Identifying potential compliance gaps and rectifying them before the audit
Guiding on best practices to avoid penalties in future audits
Penalties for Non-Compliance (UAE FTA Administrative Penalty Decisions)
Failure to submit required audit-ready records: AED 10,000 – AED 50,000
Providing inaccurate or misleading financial information: AED 5,000 per instance
Failure to retain records for the mandatory retention period: AED 50,000 – AED 500,000
Value to Clients
Minimises the risk of penalties and disputes with authorities
Improves operational transparency and credibility with stakeholders
Saves time and resources through proactive audit readiness
Builds investor and partner confidence by ensuring robust compliance