Looking for Trusted Auditing and Assurance Services
Beyond Compliance — Delivering Clarity and Assurance.
Accuvat Chartered Accountants offers a broad range of financial reporting services to meet the diverse needs of various types of businesses. Auditing is not just about numbers; but much more than that. Auditing is the mainstay of our practice.
Our expansive experience helps us perform auditing services skilfully and efficiently. The audit team’s extensive experience in diverse industries and service sectors allows us to focus on key risk factors, the effectiveness of internal controls, and potential fraud hotspots.
Why Accuvat Chartered Accountants?
Professional Team of Chartered Accountants
One Stop Solution including Taxation, Compliances and Reporting
Budget-Friendly and Reliable Services
Timely Completion
200+ Yearly Audits Executed
Personalized and Value Added Services
Vast Network of Associate Firms to Deliver Required Audits
Experienced Partners with Big4 Experience
What are the Audit Requirements in UAE?
In UAE the general requirement for businesses is to maintain their records for no less than 5 years – the commercial company law states that an audit of accounts is necessary for all mainland companies in UAE.
UAE Commercial Companies Law No. 2 of 2015, Article 27, Chapter 2, requires every company to get its account audited by licensed auditors. Hence it is always advisable for clients to maintain proper books of account for 5 years and get them audited every year.
With the UAE Corporate Tax Law in sight, it becomes imperative for every business to get its accounts regularly audited. Some Free Zones require companies to submit yearly audited financial statements. Notably, businesses both in the mainland and free zone must get their accounts audited. Considering the above, it is very much important for businesses, both in the mainland and free zone, to get their accounts audited.
What Do We Offer?
External Audits
The basic objective of a financial statement audit is to provide an independent or third-party assurance that the management has presented a “true and fair” view of a company’s financial performance in its statements, mostly demanded by Banks, Investors, and Borrowers.
We accomplish our goals by assessing the audit risks, carrying out in-depth audit procedures, collecting documents, gathering enough audit evidence, and formulating our opinion based on our exhaustive analysis while maintaining professional skepticism and due diligence.
Statutory Audit
In the UAE, it is mandatory for an external party to analyze and assess the accuracy of a company’s financial reports and financial statements in order to ascertain whether the company gives a fair and accurate portrayal of its financial position.
We will make sure that your internal controls, IT system, buying and selling procedures, and other processes are sufficient and error- and fraud-free. Based on a statistical analysis carried out by our auditing software, a sample will be taken for various departments and classes of accounts. Based on this sample, audit procedures will be carried out to guarantee that all the transactions and entries are correct, complete, and error-free.
Internal Audits
This service is a crucial tool used by management to continuously monitor and oversee business operations. An internal audit conducted by an external professional firm, such as ours, ensures that you will obtain the best outcomes possible, owing to our expertise, independence, and professional competence to assess and provide unbiased findings.
Review of Financial Statements
This service involves our firm examining a company’s financial documents to aid in decision-making and gauge the overall health of an enterprise. We provide limited assurance that an entity’s financial statements do not require major revision to comply with the applicable financial reporting framework (such as GAAP or IFRS).
Tax Audits
This is a review of the tax returns filed by an individual or business entity to determine whether the information is accurate and per the relevant tax laws. Occasionally, tax audits are also carried out as part of a health check-up to evaluate the compliance risks to the company and ensure compliance with tax laws.
Operational Audits
A systematic approach for assessing an organization’s operational effectiveness, efficiency, and economy. Leading business houses in the UAE have had extensive operational audits performed by Accuvat, which have assisted them in optimizing their processes and achieving cost savings.
Risk Management and Advisory
Risk advisory services help in evaluating the culture, systems, and processes of a business to identify and sort out the problems. This can help make decisions, support business objectives and prevent losses, damage, or harm to the business. Our well-efficient team leads risk management projects across all aspects of an enterprise, from risk assessment to any extent.
IFRS Advisory
Our internal pool of IFRS experts has tremendous knowledge and excellent tactical skills in the field. Many of our professionals have unbelievable experience solving complex IFRS issues across many types of structures. Accuvat creates tailor-made solutions depending on our clients’ specific IFRS requirements and defined priorities.
Investigation Audit
It is an extensive investigation of an entity’s finances, financial statements, and other business processes that are required when it is suspected of irregular activities, such as fraud, embezzlement, theft, money laundering, use of terrorist funds, or fraudulent acts.
To gather proof, rigorous audit procedures are used to track the transfer of assets and money. After this, the case will be presented in court once the suspect has been located and adequate audit evidence has been collected.
What is Our Audit Process?
Planning
- Audit Engagement
- Pre-audit & planning meetings
- Client meeting attended by in-house department specialists
- Preliminary analytical review
- Audit planning process
- Identifying risk areas & key business issues
Audit Field Work
- Opening balances & previous year’s working papers
- Physical inventory observations
- Substantive testing
- Confirmations
- Expert Opinions
Review
- Client manager & partner review process
- Client meeting to discuss issues
- Draft statutory accounts
- Audit issues
Sign Off
- Quality review & sign off
- Internal control improvements
- Key performance indicator & management information
Our Customer Reviews
Big Firm Capability Small Firm Personality You get the best of both.
Accuvat is a UAE Registered Accounting, Auditing and Taxation consultancy firm, from an accounting firm incorporated in 2018 by professionals Accuvat has grown into multi-disciplinary firm catering to varied clients across industries and global borders.
Accuvat is a vibrant team of several partners and well-trained staff. Through our team capability and strong associations we can serve your business in an efficient and cost effective manner. With a strong focus on relationships, we consistently try to meet or exceed our client’s expectations.
