Statutory Audit Preparation Support in Dubai

Paperwork to keep up to date

• Closed general ledger and trial balance
• Bank confirmations and reconciliations
• Debtor and creditor listings with ageing
• Inventory count records and valuation
• Payroll summaries and end-of-service calculations
• Related party list and transaction summaries

Dubai entities and where the audit requirement comes from

A company in Dubai may sit on the mainland under the Department of Economic Development or in a free zone with its own authority. The audit requirement can come from the authority's rules, the company's constitutional documents, a lender or the tax rules. Check with your licensing authority which applies to you, because the answer differs by licence type and zone.

Numerix does not perform the audit. We prepare the accounts and schedules so that the auditor your company appoints starts from organised records.

Branches of foreign companies and companies owned by other entities can have extra reporting needs. Tell the person preparing the file about your group structure at the start.

Preparing the file before the auditor arrives

Prepare a closed trial balance, a draft set of financial statements and a folder for each statement line. Add the licence copy, shareholder documents, lease agreement, bank account list, loan agreements and the VAT and corporate tax filings.

Free zone companies should also assemble evidence of substance if they rely on Qualifying Free Zone Person status. Examples are premises, staff and decision-making records. Those conditions interact with the requirement to keep audited financial statements.

A single index listing each document with its date and location lets the auditor find items without asking.

Common reasons a Dubai file is returned

The most common reason is that the draft figures do not agree to supporting records. Examples are a bank balance that does not match the statement, a VAT return that does not match the ledger, or payroll that differs from the wage file. Others are missing signatures on agreements and unlabelled journals.

Run an internal tie-out before the files are shared. Compare the VAT return to sales and purchase ledgers, payroll to WPS submissions through MOHRE, and cash to bank statements.

Fix these first, then hand over the file with a short note listing what has been reconciled.

Common gaps in Dubai company accounts

Our preparation process

Our scope, stated plainly