Importance of Hiring an Audit Firm in UAE
In order for a business to conduct business both locally and internationally, accounting audits are an integral aspect to consider. Getting an audit from well-established audit firms in Dubai can provide you with the necessary know-how or oversight on your company’s financial position as well as help to convince potential partners and shareholders.
Dubai is no doubt known for its esteemed business hubs for trading services and products. Due to these tightly regulated financial regulations, a level playing field is created for all participants in terms of fairness, comfort, and profitability.
A fundamental legal requirement for businesses in the UAE is the auditing of accounts and the strong maintenance of finances. To meet this need, a large number of options are available although merely choosing one based on brand recognition is common and oftentimes the number 1 mistake companies make.
Top Audit Firms in Dubai
Founded as early as 1845 in London (UK), Deloitte is highly-recognized and is regarded as one of the big 4 internal and external audit firms. It provides trustworthy services such as audit, taxation, and also financial advisory. It is one of the biggest audit companies and the biggest recruiter of finance professionals.
The following are the types of audits Deloitte provides its clients:
- Statutory audits, special purpose, and limited scope audits
- Operational audits
- Financial investigation and restructuring assistance
- Compliance auditing
Founded in 1987, KPMG is yet another audit firm with an outstanding brand image amongst customers. It has a wide base when it comes to providing services to 155 countries and includes versatility in its divisions from auditing, advisory, and taxation (both local and international) to consultancy services.
KPMG has carried out audits for a multitude of sectors such as:
- Government, healthcare, and infrastructure
- Industrial and consumer markets
- Technology, telecommunications, and media
3. BDO (Binder Dijker Otte)
Since 1975, BDO has been considered the best audit firm consisting of a wide client base from 162 countries around the world. With its expertise, certified team of auditors, innovation, and adaptable approach, its aim is to consistently provide its clients with the best growth in the competitive market of UAE with its accounting and auditing services.
4. Ernst & Young (EY)
EY is a global leader in audit and assurance, transactions, and advisory services. With a large team of 61+ partners and 1106 employees in Dubai from diverse cultures, EY conducts business keeping in mind its values of respect, work integrity, and professionalism.
5. PricewaterhouseCoopers (PWC)
PricewaterhouseCoopers (PWC) is considered one of the Big 4 audit firms, from among Deloitte, KPMG, and EY. It operates under the PWC brand and currently ranks as the second-largest professional network services firm.
It prides itself on its philosophy of delivering bold ideas, human-centric solutions, and tech-powered experiences that deliver lasting results to organizations, customers, and communities.
6. Grant Thornton
An American member organization of Grant Thornton International, Grant Thornton is currently ranked as the seventh-largest accounting, audit, and advisory firm in the world.
Its objective is simple- delivering quality, innovation, and expertise that clients all over the world can rely on!
7. Farahat & Co
Farahat & Co is a well-established and recognized audit firm in Dubai since 1985. Specializing in a multitude of services from audit, VAT consulting , excise tax, accounting services, corporate finance advisory services, and company liquidation services the team of experts at Farahat & Co know the ins and outs of the UAE market and possess the strategic understanding and dedication to give you the desired results.
Delivering the best quality, timely service and solutions is our forte and we constantly strive to strengthen the quality of our services. Furthermore, we are among the few audit firms that also provide customized services based on the needs of our clients.
Choosing the Right Audit Firm in Dubai and All-Around UAE
Choosing the right audit firm for your business is an important decision and not to be taken lightly as it creates a significant impact on your finances. Hiring an audit firm that is reliable, reputable but at the same time economical is the best thing you can do for your business.
The right audit firm will help you identify errors, weaknesses, and strengths. Furthermore, the firm should also provide solutions on how the issues could be addressed.
All in all, if you notice from the comparison chart above, our firm Farahat & Co sure does stand out for its economical, all-inclusive, and customized approach. Give our qualified and experienced staff a call today and find out for yourself!
Read More : Top 5 Reasons to Hire an Audit Firm in UAE.