Top 7 Audit Firms in Dubai (2024)

Here is the list of the top 7 Audit Firms in Dubai

1. Deloitte
2. KPMG
3. Binder Dijker Otte
4. Ernst & Young Global Limited
5. PricewaterhouseCoopers
6. Grant Thornton
7. Farahat & Co

Deloitte

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 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
• Review
• Compliance auditing

KPMG

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:

1. Financial
2. Government, healthcare, and infrastructure
3. Industrial and consumer markets
4. Technology, telecommunications, and media

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 auditing team, 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.

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.

PricewaterhouseCoopers LLP(PWC)

PricewaterhouseCoopers (PWC) is considered one of the Big 4 audit firms, from 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.

Grant Thornton UAE

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!

Farahat & Co - Top Audit Firms in Dubai

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 tax consultation, 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.

Big 4 Audit Firms in Dubai

Among the most crucial choices to make to safeguard and expand business is selecting an experienced, certified, and professional auditing firm in Dubai. Let's examine the Big 4 audit firms in Dubai, UAE:

• PricewaterhouseCoopers (PwC): Offering top-notch audit, consultancy, and tax services, PwC is an international network of companies. Owing to its noteworthy reputation, it is regarded as one of the top financial advice businesses globally. Providing extensive expertise, PwC Dubai offers external auditing, internal auditing, risk management and comprehensive financial guidance to all its clients.
• Deloitte: Deloitte presents itself as a prominent worldwide network of professional services, providing clients with auditing, consulting, taxation, and advisory solutions. Founded over 90 years ago in London, the brand holds an esteemed reputation as a leading firm within the industry with comprehensive offerings including assurance and advisory solutions alongside expert guidance on tax planning and consultancy matters.
• KPMG: KPMG, Deloitte, PwC, and EY are recognized as the Big Four auditing firms. KPMG provides audit, tax, and advisory services to its clients. Renowned for its extensive services in corporate finance, tax, audit and assurance, and consultancy, KPMG is also present in Dubai.
• EY (Ernst & Young): Global professional services provider Ernst & Young, or EY, offers a variety of tax-related services in addition to assurance, counsel, and consulting. Among the various clients that EY serves are government agencies, small and medium-sized enterprises, and large multinational corporations. One of the well-known Big 4 audit firms in the industry is EY.

Benefits of Hiring an Audit Firm in Dubai

For a business to conduct business both locally and internationally, accounting audits are an integral aspect to consider. Getting an audit from top 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 one of the most dynamic and diverse business hubs in the world, attracting investors and entrepreneurs from various sectors and industries. With its strategic location, tax-free environment, and world-class infrastructure, Dubai offers a conducive and competitive platform for business growth and development. However, to ensure compliance, transparency, and accountability, businesses in Dubai need to undergo regular audits by qualified and licensed audit company.

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.

Auditing Services in Dubai by our top Audit Firms

Our top audit firm in Dubai is Farahat & Co., a leading and reputable audit firm that provides a wide range of auditing services to meet the needs and expectations of our clients. Our auditing services include:

• Statutory Audit

For some organizations, such as publicly listed companies, banks, insurance companies, and governments, a statutory audit is an audit that is required by law or regulation of the nation. A Statutory Audit must be conducted on a regular basis by UAE public sector enterprises to verify compliance with government rules. An appointed Statutory Auditing company in the UAE is required to audit the financial records of all government agencies.

• Internal Audit:

For your company to function smoothly, Farahat & Co. offers internal audit services in the UAE. These services identify inefficiencies at every stage of operation and propose strategies for risk reduction so that the organization may overcome obstacles and achieve its objectives. Our internal auditing team can provide personalized solutions that will add strategic value to your company. Our accounting company, which is among the top internal audit companies in the United Arab Emirates, provides innovative solutions to ensure that your corporate audits go perfectly. 

• External Audit:

When an external auditing team is chosen either voluntarily by the company or by a third party—a creditor, client, regulator, or other—they carry out an external audit. In order to guarantee and validate the accuracy and validity of the information, data, or procedures used by the organization, an external audit is performed.

• Forensic Audit:

Examining and assessing a company's or person's financial or accounting records is called a forensic audit. An auditor looks for evidence conducting a forensic audit that may be presented in court. The purpose of a forensic audit is to find evidence of illegal activity like misappropriation or fraud.

• Tax Audit

Our one of the Top audit firms in Dubai offers tax audit-related services in the UAE. A tax audit is simply a government’s examination of a firm regarding its responsibilities as a taxable entity. The FTA performs this kind of audit to make sure that all obligations are fulfilled and that all taxes are collected and sent to the government on schedule. The government evaluates a company's compliance with tax rules, such as VAT and excise taxes, to see whether it is fulfilling its obligations.

Who can do an Audit in Dubai?

As per Article 15 of the Federal Decree Law No. (41) of 2023 Concerning the Regulation of the Accounting and Auditing Profession, it is stated as follows:

1. Unless the SCA certification is secured, the Accounting Firm is not permitted to do audits or reviews of the financial accounts of public joint stock corporations or mutual funds.
2. The Accounting Firm appointed by the banks, insurance companies, investment fund companies for the benefit of third parties, and public joint stock companies to audit and review their financial statements shall hold the professional license issued by the Ministry, subject to Clause (1) of this Article and any other conditions provided by the laws enforced in the State. The period of holding the license shall not be less than (5) five years.
3. Any restrictions, requirements, or fees for the Accounting Firms' certification must be approved by the SCA Board of Directors.
4. SCA is required to notify the Ministry of the names of the certified accounting companies as well as any criminal fines or disciplinary actions that SCA has taken against them.

Further, as per Ministerial Resolution 111-2 of 2022, to obtain a license, accounting professionals need to clear compulsory exams on International Financial Reporting Standards (IFRS), International Standards on Auditing (ISAs), and UAE tax and regulation. However, those who have credentials from any of the six professional bodies – ACCA, ICAEW, AICPA, CPA Australia, CPA Canada, and Saudi Organization for Chartered and Professional Accountants are exempt from the accounting and auditing standards examinations.

Choosing the Right Audit Firm in Dubai 

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, and 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