Audit Services in Sharjah
Business setup in Sharjah is not just about managing finances, it is about having accurate and verified records of your business, which are a true representation of your business standings that meet all regulatory requirements. An audit service gives you exactly that. A good audit not only helps you meet regulatory requirements across the UAE but also helps you strengthen internal processes, increase accuracy, and gain the trust of banks and investors.
Farahat & Co. provides structured audit services in line with UAE regulations and international auditing standards. We help businesses in Sharjah maintain compliant financial records, identify gaps early, and reduce regulatory and financial risk.
How Farahat & Co. Can Help
- Independent audit of financial statements as per applicable standards
- Review of internal controls, risk areas, and reporting gaps
- Audit support for regulatory, banking, and investor requirements
- Proper documentation and audit preparation
- Clear and organized audit reports prepared by certified auditors
Who Needs Audit Services in Sharjah?
Audit services in Sharjah, both mainland and freezones, are particularly relevant for:
- Mainland companies that are registered under Sharjah authorities
- Sharjah Free Zone companies requiring audited statements for license renewal (e.g., Sharjah Airport International Free Zone (SAIF Zone), Hamriyah Free Zone Authority (HFZA))
- SMEs applying for bank finance or investor funding
- Companies under VAT or Corporate Tax review
- Corporate groups with internal control systems
- Businesses planning to go through liquidation or restructuring
Our Audit Reporting Process in Sharjah
Our audit process is structured and transparent:
- Initial assessment to understand the business activities and risk areas of the firm
- Document collection or gathering financial and supporting records
- Audit planning to defining scope as per reporting requirements
- Fieldwork & testing with transaction testing, verification, and control review
- Analysis & evaluation to identify any gaps and compliance issues that might lead to fines later
- Preparation and issuance of audit report with management observations
- Any required follow-up support with proper guidance on implementing recommendations
Documents Required for an Audit in Sharjah
Company Registration Documents
- Trade license / Certificate of incorporation
- Memorandum & Articles of Association
- Shareholder register and share certificates
Financial Records
- Bank statements and bank confirmation letters
- Trial balance and general ledger
- Sales, purchase, payroll, and expense ledgers
- Management accounts
- Fixed asset register with depreciation
Tax & Compliance Paperwork
- VAT registration and VAT return filings
- Corporate Tax registration details
- Excise registration, if applicable
Other Supporting Documents including office lease agreement, customer and supplier list, invoices and bills, all the inventory records, contracts and key agreements or payroll records and financial disclosures, if needed.
Compliance & Regulatory Framework
The audit services need to be in alignment with the UAE financial reporting regulations. It is to ensure the company is able to prepare, maintain, and present its financial statements in accordance with the accepted standards by the relevant authorities. Proper alignment with the regulations enables the businesses to maintain accurate book-keeping and avoid any reporting of inaccurate information. Also, it enables the businesses to be prepared for the regulatory audit checkings and inspections.
The audit services need to be in alignment with:
- The expectations of the Federal Tax Authority for the accuracy of Value Added Tax and Corporate Tax
- The international auditing standards such as ISA and GAAS. In addition to this, the audit reports are also required by the banks, free zones, and government authorities.
Common Mistakes to Avoid During an Audit
Businesses can face serious compliance issues with audit regulations set by the Federal Tax Authority due to the following reasons:
- Accounting records presented that are not regularly reconciled with bank and ledger balances
- Providing documents without proper review, leading to inconsistencies during verification
- Lack of ownership within the company for coordinating audit requirements
- Repeating the same control gaps highlighted in previous audits without corrective action
- Audit as a last-minute task instead of a year-round or annually compliance process
Your Trusted Partner for Farahat & Co. for Audit in Sharjah!
Farahat & Co. has been delivering trusted audit services in the UAE since 1985. We help businesses maintain accurate records, meet regulatory expectations, and reduce audit and tax risks through structured, professional audit procedures. Our CPA, CA, and ACCA-qualified team provides:
- Statutory & External Audit Engagements
- Financial Review Engagements
- Compilation of Financial Statements
- Specialized Audit Reviews
Contact us today for an initial consultation and speak with our audit experts in Sharjah!
Frequently Asked Questions
Why do businesses in Sharjah need audit services?
Audit services help businesses in Sharjah maintain accurate financial records, meet compliance requirements, and identify issues before they become bigger financial or regulatory problems.
Is statutory audit mandatory for companies in Sharjah?
Statutory audit requirements in Sharjah depend on the company type, legal structure, licensing authority, and whether the business operates in the mainland or a free zone.
What is included in audit services in Sharjah?
Audit services usually include reviewing financial statements, checking accounting records, assessing compliance, verifying supporting documents, and issuing the audit report.
Do free zone companies in Sharjah need audited financial statements?
Many free zone companies may be required to submit audited financial statements based on the rules of the relevant authority, license conditions, or renewal requirements.
How do I choose the right audit firm in Sharjah?
You should choose an audit firm in Sharjah based on its experience, regulatory understanding, service quality, industry knowledge, and ability to provide clear and reliable reporting.
What documents are required for an audit in Sharjah?
Common documents include financial statements, general ledger, trial balance, bank statements, invoices, contracts, tax records, and other supporting accounting documents.
What is the difference between internal audit and external audit?
Internal audit focuses on internal controls, risk, and operations, while external audit reviews financial statements and reporting for accuracy, compliance, and independent assurance.
How often should a company conduct an audit in Sharjah?
Audits are usually conducted annually, or as required by the relevant authority, investors, banks, or business partners.
Can audit services help identify financial risks and control weaknesses?
Yes, audit services can help identify reporting issues, internal control gaps, and financial risks so the business can take corrective action early.