Dubai is a distinguished financial center in the Middle East, which is why auditing has become one of the significant factors in the business sector. To comply with UAE’s auditing regulations and drive success, many small and large corporations rely on professional auditing services. However, finding the right audit services in Dubai can be challenging, considering the highly competitive business environment in the country.
A good audit firm can help an organization in several ways, such as keeping the finances in order, reviewing the financial performance, identifying areas of improvement, ensuring compliance with the rules of the financial sector, reducing stress, and minimizing expenses.
Top firms offering auditing services in UAE
We have sorted out a list of top audit firms in the UAE that are highly qualified and well-esteemed in the financial community.
Shuraa Tax
Shuraa Tax and Accounting Services L.L.C is a prominent name in tax management and consultation in the UAE. Established in 2018, Shuraa Tax has been constantly working to help businesses navigate the country’s tax laws and regulations with excellence. They have a full-fledged team of knowledgeable and qualified accountants, auditors, and tax advisories who offer comprehensive VAT, corporate tax, auditing, tax management, and accounting services in Dubai and various other Emirates.
Farahat & Co.
Established in 1985, Farahat & Co. is a dynamic part of the world’s second-largest international association, LEA GLOBAL. Regulated by the UAE financial authorities, this audit and accounting firm is registered with the UAE courts, prosecution authorities, major banks, free zones, arbitration centers, and several other official authorities in the UAE. The key services offered by the company include specialized audits, tax consultancy, and business advisory. They emphasize excellent customer service and tailored solutions, which makes it one of the best audit firms in Dubai.
KPMG
KPMG holds an impeccable record of offering the best audit services in Dubai, UAE. Their top-notch services include auditing, local and international taxation, assurance, consultation, and advisory services. Moreover, they hold a high status in the financial community as well as the business sectors due to the accuracy and competence they deliver in their services.
PricewaterhouseCoopers (PwC)
PricewaterhouseCoopers is currently operating in around 100 countries across the world, helping businesses thrive and add value. They have partnered with around 84% of Fortune 500 organizations and more than 100,000 private companies. With their high-quality assurance, consulting, and tax services, they have established a good reputation and fostered trust in the financial community.
Deloitte
Deloitte is a well-known audit and accounting firm, offering reliable auditing, taxation, risk management, and financial advisory services worldwide. The company is a top employer of over 225,000 finance experts and professionals. They have operated in approximately 100 countries, delivered audit services to large corporations, and eventually earned a reputation for reliability. From finance and healthcare to taxation and risk management, Deloitte offers its services across many sectors.
BDO
Working for more than a decade, BDO earns around $10 billion in revenue every year. They provide adaptable and proactive strategies to clients and help them meet their financial challenges. They have offices in every continent and conduct business in around 165 countries.
Grant Thornton
Businesses lay their trust in Grant Thornton for the exceptional services they provide, including tax, auditing, and accounting services. They have a wide range of industry experience and offer specialized services tailored to the needs of each client.
Ernst & Young (EY)
Ernest & Young is one of the top firms offering the best auditing services in UAE. Their primary service lines are assurance, tax, consulting, and transaction advisory services. They have offices in more than 150 countries delivering profitable services in assurance, tax, and advisory.
AFD
AFD is one of the most prominent audit firms founded by industry pioneers in the UAE. They have a track record of serving over 30,000 clients in 150+ countries with services in legal accounting, auditing, dispute support, consulting, fraud analysis, payroll management, forensic accounting, human resources, trademark protection, and employee relocation.
Crowe UAE
From the prestigious Crow Global family, a powerhouse in the industry, Crowe UAE ranks among the top 10 accounting companies worldwide. It has more than 750 offices worldwide and a team of over 35,000 talented people, including partners and employees.
Baker Tilly
Baker Tilly Middle East is one of the best in the world of professional services. Sailing under the JFC Group banner, Baker Tilly has around 30 offices scattered across the Middle East and Africa, offering assurance, advisory, and consultancy services.
RSM
RSM Chartered Accountants provides taxation, consultancy, and auditing services in nearly 120 countries. They are well-versed in cross-continental businesses and are highly experienced, in delivering quality auditing and accounting services.
Types of audit services in Dubai
Auditing is not just a financial checkup of an organization, rather it’s a way to transparency. Professional audit firms conduct an in-depth analysis of the company’s financial records and provide an independent opinion of its financial health. Through consistent and reliable auditing, businesses tend to build trust with investors, creditors, and government agencies.
Some of the common types of audits offered by auditing services in UAE include the following:-
- Financial audit – Thorough examination of the financial statements of the company to form an independent opinion on the financial position of the organization and results of operations.
- Internal audit – An ongoing review process conducted internally with the support of external audit firms to evaluate the efficiency of internal controls, risk management practices, and adherence to company policies and procedures.
- Operational audit – Reviewing production practices, inventory management, and human resource practices to assess the efficiency and effectiveness of business operations and identify areas for improvement for better performance.
- Compliance audit – Focusing on the company’s adherence to specific regulations or industry standards and helping them navigate complex regulations like VAT (Value Added Tax).
- Forensic audit – Employing investigative techniques to uncover financial wrongdoing, suspected fraud, or financial irregularities within a company.
- IT audit – Check the security and controls surrounding the IT infrastructure and data to identify exposures and mitigate cyber security risks.
Things to consider while choosing audit services in Dubai
While looking for a trusted accounting partner, there are certain factors that you need to consider:-
- Range of services
- Good reputation and a track record of successful partnerships
- Experience working in a variety of industries
- Communication networks with their clients. For instance, receptive, transparent, and keen to engage in regular discussions with clients
- Use of technology and up-to-date advanced tools and software
- Industry specialty
- Pricing structure
- Certifications and compliance with local principles
- Maintenance of peak standards of integrity and compliance
- Recommendations from other businesses (client references, case studies, etc.)
Conclusion
A comprehensive audit is not just a regulatory requirement. It is crucial for safeguarding the financial health and optimizing the operations of the business. Moreover, it helps in fostering investor confidence by assuring them of the financial stability and transparency of the company.
The type of audit services in Dubai you need depends on the specific business needs and risk profile of your business. Hence, consulting with an experienced audit firm like Shuraa Tax can help you determine the most suitable approach for your business situation. Through their expertise and knowledge, they will streamline operations and recognize hidden efficiencies within your business.
Partner with Shuraa Tax today and unlock the full potential of your company.
