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📢 UAE E-Invoicing: Mandatory Go-Live in Phases — 1 Jan 2027 (≥ AED 50M) | 1 Jul 2027 (< AED 50M) | 1 Oct 2027 (Government) 📢 UAE E-Invoicing Is Approaching! Find Out How Prepared Your Business Is – Take the Free Readiness Check.
Independent external audit services for eligible businesses across Dubai and the UAE. ARCA Auditors, now part of Horizon Biz Consultancy, helps businesses address applicable financial reporting and audit requirements through engagements guided by relevant auditing and accounting standards.
An external audit, also commonly known as a statutory audit, is an independent examination of a company’s financial statements, accounting records and supporting documentation conducted by independent UAE-approved auditors.
Businesses may engage an external auditor to meet applicable obligations and provide independent financial information to people and organisations that rely on their financial statements.
Address statutory, regulatory, free-zone authority and other applicable audit and financial reporting requirements.
Provide shareholders and investors with an independent auditor’s report on the company’s financial statements.
Provide audited financial statements when requested by banks or other financing institutions as part of their assessment processes.
Give relevant stakeholders an independent view of whether the financial statements are prepared in accordance with the applicable reporting framework.
Identify and assess risks of material misstatement and matters that may require management’s attention.
Meet financial reporting needs that may arise during restructuring, transactions or other contractual arrangements.
An external audit is designed to provide reasonable assurance on financial statements. It can also support informed discussions between a business and its stakeholders.
Provides stakeholders with an independent opinion on the company’s financial statements in accordance with the applicable reporting framework.
Helps shareholders, investors and lenders assess the company’s reported financial position and performance.
Helps identify material misstatements and areas that may require management attention or further review.
Supports businesses in addressing relevant audit and reporting obligations arising from laws, regulations, free-zone rules or contractual arrangements.
An external audit is conducted in accordance with applicable International Standards on Auditing (ISA). Financial statements are assessed against the applicable financial reporting framework, such as IFRS Accounting Standards.
Examination of the balance sheet, statement of profit or loss, statement of cash flows, statement of changes in equity and accompanying notes and disclosures.
Identification and assessment of risks of material misstatement in financial statements, whether arising from fraud or error.
Evaluation of accounting policies, significant accounting estimates and management judgements used in preparing financial statements.
Inspection, analytical procedures, external confirmations, inquiries, reconciliations and substantive testing to obtain sufficient appropriate audit evidence.
Understanding relevant internal controls to identify and assess risks and design appropriate audit procedures.
Considering management’s going-concern assessment and relevant events between the reporting date and the auditor’s report date.
ARCA Auditors provides external and statutory audit services to eligible non-regulated companies across applicable UAE jurisdictions.
Audit requirements may differ according to the company’s jurisdiction, business activity, licensing authority, regulatory status and other applicable circumstances.
For businesses operating in specialised jurisdictions or free zones, our team can assess the applicable audit requirements before the engagement begins.
Businesses operating in Dubai may require external or statutory audits for a range of reasons, including:
UAE free zones have specific audit, financial reporting and auditor appointment requirements. These may differ depending on the relevant free-zone authority and the nature of the business.
ARCA Auditors has experience supporting businesses operating across multiple UAE free zones and maintains auditor relationships with several free-zone authorities.
Our team can help businesses understand the applicable audit requirements and auditor approval conditions for their respective free zones.
ARCA Auditors follows a structured audit approach based on applicable auditing standards, the nature of the business and the agreed scope of engagement.
The company follows the applicable process to appoint an eligible independent auditor, taking account of relevant legal, regulatory and authority requirements.
The engagement is documented through an engagement letter that sets out the audit scope, responsibilities, reporting framework and other agreed terms.
We understand the business, its financial reporting environment and relevant risks, then develop an audit plan based on the assessed risks and engagement scope.
We examine relevant accounting records, financial information, supporting documentation and internal controls relevant to financial reporting.
Our audit professionals perform appropriate procedures, including substantive testing, analytical procedures, confirmations and other evidence-gathering activities.
We evaluate identified misstatements, inconsistencies, control observations and other relevant findings against the applicable reporting framework and auditing standards.
Based on the audit evidence obtained, we prepare the applicable independent auditor’s report and communicate relevant matters to management where appropriate.
ARCA Auditors has an established history in UAE auditing dating back to 1979.
Experience supporting businesses operating across UAE mainland and free-zone jurisdictions.
Our audit engagements are supported by experienced accounting and audit professionals, including qualified chartered accountants.
We follow a structured audit process based on professional judgement, appropriate audit evidence and the agreed engagement scope.
Our audit engagements follow applicable ISA, with financial statements assessed against relevant IFRS Accounting Standards and UAE requirements.
We have experience supporting businesses across multiple UAE free zones and maintain auditor relationships with several authorities, subject to their approval requirements.
The time required to complete an external audit depends on several factors, including:
During the initial discussion, our audit team can provide an estimated timeline based on your company’s circumstances and documentation readiness.
An external audit is an independent examination of a company’s financial statements, accounting records and supporting documentation. It is also commonly referred to as a statutory audit. The objective is to obtain reasonable assurance and express an independent opinion on the financial statements.
No. Audit requirements depend on the company’s jurisdiction, legal structure, free-zone authority, regulatory status, licensing requirements, contractual obligations and banking arrangements.
An external audit primarily focuses on providing independent assurance on financial statements and related financial reporting. Internal audit generally focuses on a broader assessment of internal controls, risk management, governance, compliance and operational processes.
ARCA Auditors provides external and statutory audit services to eligible non-regulated DIFC companies, subject to applicable requirements.
Banks and financial institutions may request audited financial statements as part of financing applications, credit assessments or ongoing banking relationships. Specific requirements should be confirmed with the relevant financial institution.
External audits are conducted in accordance with applicable International Standards on Auditing (ISA). Financial statements are generally prepared in accordance with IFRS Accounting Standards or another applicable financial reporting framework, depending on the company’s requirements.
Audit fees depend on factors such as business size, complexity, number of entities, accounting records, industry, engagement scope, jurisdiction and reporting requirements. ARCA Auditors can provide an engagement-specific quotation after understanding your business and audit requirements.
External audit and statutory audit are commonly used interchangeably. Both generally refer to an independent examination of financial statements and the issuance of an auditor’s report. The term statutory audit is generally used when the audit is required by applicable law or regulations.
Whether your business operates in mainland Dubai, a UAE free zone or another eligible UAE jurisdiction, ARCA Auditors can help you understand and address your applicable external and statutory audit requirements.