Auditing poses a significant challenge for businesses, especially in the UAE, where payroll regulations and tax laws are constantly evolving. For smaller companies, ensuring compliance can be both complex and costly.
Thus, to avoid the burden of in-house auditing, businesses are advised to seek the expert services of reputable audit firms in Dubai for professional assistance.
As an essential aspect of financial management, auditing ensures accuracy and transparency in a company’s financial records.
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Established in 1985, Farahat & Co has earned an immense reputation as a leading audit firm in Dubai. With expertise spanning a wide range of services including auditing, VAT consulting, excise tax, accounting, corporate tax advisory, and company liquidation, our team brings in-depth knowledge of the UAE market. We are committed to offering strategic and tailored insights that deliver results that meet your unique business needs.
At Farahat & Co, we pride ourselves on providing high-quality, timely services and solutions.
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:
Founded in 1987, KPMG is yet another audit firm with an outstanding brand image amongst customers. It has a wide base for 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:
Since 1975, BDO has been considered the best audit firm consisting of a wide client base from 162 countries worldwide. With its expertise, certified auditing team, innovation, and adaptable approach, it aims to consistently provide its clients with the best growth in the competitive market of UAE with its accounting and auditing services.
EY is a global leader in audit, 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 (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.
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.
Baker Tilly is a well-respected professional audit firm based in Dubai, known for its comprehensive range of services. Their offerings include assurance, advisory, and consultancy services, catering to a wide array of client needs. What sets Baker Tilly apart is not just the quality of their services but also their extensive presence.
With a network of 30 offices spread across the Middle East and Africa, they have built a strong reputation for accessibility and reliability. This widespread footprint allows them to serve clients in diverse regions, ensuring that they are always close by, no matter how far away.
Crowe Horwath is a recognized name amongst top audit firms in Dubai, UAE. They offer an extensive range of services such as;
It mainly focuses on building long-standing associations with clients that enhance their status among the top audit firms in Dubai, UAE.
A&A Associate LLC is one of the best audit firms in Dubai, UAE. They offer several services such as;
Their commitment to fulfilling client needs and providing personalized solutions ranks them among the top 10 audit firms in the UAE.
Accounting audits are an integral aspect to consider for a business to conduct both locally and internationally. 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.
Also read: Audit Requirements in UAE
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 companies.
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.
The 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:
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 regularly 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.
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.
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. To guarantee and validate the accuracy and validity of the information, data, or procedures used by the organization, an external audit is performed.
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.
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.
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:
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.
Also read: Top 5 Reasons to Hire an Audit Firm in UAE
Since 1985, Farahat & Co has been in the business of delivering a wide array of services, such as auditing, accounting, tax consulting, and business liquidation, with a great understanding of the UAE corporate landscape. This level of expertise allows the firm to tailor its services to fit the unique needs of its clients.
The decision to choose the right audit firm is very important and will eventually affect the financial health of your business. What is essential is choosing a reliable and reputable firm that is also cost-effective to get value for your money.
Among the many roles of audit firms in Dubai, companies such as Farahat & Co play a leading role in identifying the errors, weaknesses, and strengths of your business. More importantly, they are supposed to come up with solutions to make your company get better at managing these issues and help move it forward.