Sharjah Media City · SHAMS Free Zone

SHAMS Approved Auditors in Sharjah, UAE

Looking for SHAMS approved auditors for your business in Sharjah Media City? ARCA Auditors, now part of Horizon Biz Consultancy, supports businesses with audit preparation, financial reporting and accounting-related services.

Whether your company operates in media, marketing, publishing, creative services, trading or another business sector, keeping financial records organised is an important part of managing your reporting responsibilities.

Speak with our team about your company’s audit requirements, financial statements and the next steps for your business.

SHAMS Audit and Financial Support

SHAMS Audit Services

Understanding Audit Requirements in Sharjah Media City

Sharjah Media City (SHAMS) is a free zone in Sharjah, UAE, serving businesses across media, creative and other commercial activities. Companies registered in SHAMS should understand the financial reporting, audit and licence-related requirements that apply to their specific registration.

Why Is an Audit Important for a SHAMS Company?

An external audit is an independent examination of a company’s financial statements and relevant accounting records. It helps assess whether financial information has been prepared in accordance with the applicable financial reporting framework.

Depending on the current SHAMS rules and the circumstances of the business, companies may need to prepare audited financial statements or submit an audit report as part of their reporting obligations.

A well-organised audit process can help business owners maintain reliable financial records, understand their reported financial position and address questions arising during the review.

Before appointing an auditor, confirm the current SHAMS requirements, auditor eligibility criteria and applicable submission procedures for your company.

Key Areas to Confirm Before Your Audit

Whether an audit is required for your company.
Which auditor approval or eligibility requirements apply.
The relevant financial year-end and submission deadline.
The financial statements and supporting records needed.
The process for submitting audit reports, if applicable.
Any applicable authority fees or late-submission consequences.

Business Benefits

Benefits of Hiring an Auditor in SHAMS Free Zone

An appropriately scoped audit can support financial transparency, strengthen confidence in reported information and help management identify areas that need attention.

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Improved Financial Accuracy

An audit examines financial statements and relevant supporting evidence to assess the reliability of reported financial information.

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Support for Reporting Responsibilities

Preparing records and audit documentation in advance can help businesses manage the reporting requirements that apply to their registration.

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Better Financial Decisions

Reliable financial information can help management review revenue, expenses, cash flow and overall business performance.

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Stronger Financial Controls

Audit work may highlight gaps in supporting documentation, accounting procedures or internal controls that deserve further attention.

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Greater Stakeholder Confidence

Independently examined financial statements can help relevant stakeholders assess financial information with greater confidence.

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More Organised Business Records

Preparing for an audit encourages businesses to maintain accessible accounting records and supporting documents throughout the financial year.

Our Professional Services

Audit and Accounting Services for SHAMS Businesses

ARCA Auditors, now part of Horizon Biz Consultancy, can discuss audit, accounting and financial reporting support based on your business requirements and the services available for your engagement.

External Audit Services

Independent examination of financial statements and supporting accounting records within the agreed engagement scope and applicable professional requirements.

Accounting Services

Accounting support to help businesses organise financial transactions, maintain records and prepare financial information for reporting and management purposes.

Bookkeeping Services

Assistance with recording transactions, organising ledgers and maintaining supporting documentation for financial reporting and audit preparation.

IFRS Financial Reporting

Support with preparing financial statements and considering relevant International Financial Reporting Standards, where applicable to the engagement.

Internal Audit Services

Review of selected internal processes and controls to help management understand risks and identify opportunities for improvement.

CFO and Financial Advisory

Financial planning and advisory support to help management assess performance, review financial risks and plan for business development.

VAT Services

Assistance with VAT-related accounting records, return preparation and compliance support, depending on the company’s needs and the agreed scope.

Corporate Tax Services

Corporate tax-related support to help businesses understand applicable obligations and organise the financial information needed for tax work.

Payroll Accounting

Payroll-related accounting and record-keeping support, including salary schedules and associated financial records where required.

Business and Licensing Considerations

Audit Considerations for SHAMS Licence Holders

The financial reporting and documentation needs of a business can vary according to its activities and registration. SHAMS businesses should confirm the requirements that apply to their particular licence.

Service-Based Businesses

Service businesses may need to organise records relating to client contracts, service revenue, operating expenses, supplier invoices and other transactions relevant to their financial statements.

Trading Businesses

Businesses involved in trading may need to maintain sales and purchase records, inventory information where applicable, supplier balances and documentation supporting their transactions.

Industrial or Production Activities

Businesses undertaking production or related activities may need records covering equipment, inventory, costs, revenue and other transactions relevant to their operations and financial reporting.

These are general accounting considerations, not confirmation of SHAMS licence categories or audit obligations. Verify the current licence classifications and requirements with SHAMS.

Audit Preparation

Documents Required for a SHAMS Audit

Organised financial records help the auditor understand your company’s transactions and identify the supporting evidence needed for the engagement.

Prepare Your Financial Records in Advance

Before an audit begins, gather the financial statements, accounting records and supporting documents relevant to your company’s activities.

Additional information may be requested during the audit. Maintaining complete records and responding to questions promptly can help the engagement proceed more efficiently.

This is a general checklist, not an official SHAMS document list. The appointed auditor should confirm the final requirements for your business.

Commonly Requested Audit Documents

Trial balance and general ledger
Balance sheet and income statement
Bank statements and reconciliations
Sales invoices and purchase invoices
Accounts receivable and payable schedules
Payroll records and employee-related schedules
Fixed asset register and depreciation schedules
Inventory records, where applicable
Lease, loan and other material agreements
VAT records and relevant tax documentation
Previous financial statements and audit reports, if available
Relevant company registration and licence information

Our Approach

How to Arrange an Audit for a SHAMS Company

A structured process helps businesses understand the information required, the audit stages and the next steps for completing the engagement.

Initial Consultation

Discuss your company registration, business activities, financial year-end and the audit support you require.

Document Collection

Gather financial statements, accounting ledgers, bank records and supporting documentation relevant to the engagement.

Audit Examination

The appointed auditor examines relevant financial information and requests additional evidence or explanations where necessary.

Reporting and Follow-Up

The auditor prepares the agreed deliverables in accordance with applicable professional requirements. Confirm any required authority submission steps separately.

Company Setup Considerations

Financial and Audit Planning for New SHAMS Companies

Businesses planning to establish a company in Sharjah Media City should consider their accounting and financial record-keeping arrangements from the outset. A suitable process can help keep transactions organised and make future reporting more manageable.

Understanding licence conditions, applicable tax responsibilities and any relevant audit requirements early can help business owners plan their financial administration.

Requirements can vary according to the company’s registration and activities. Confirm the applicable conditions with SHAMS and qualified professional advisers before making decisions about reporting arrangements.

Areas to Consider When Setting Up

Company registration and licence conditions.
Accounting systems and record-keeping arrangements.
Financial year-end and reporting timetable.
Applicable audit and auditor eligibility requirements.
VAT and corporate tax considerations.
Financial reporting and document retention practices.

Need Help With Your Business, Tax or Finances?

Speak with Arca Auditors about your business requirements and get practical guidance from experienced professionals.

Enter your information below to receive an email or Contact us today for assistance on +971 50 397 8378 or support@arca.ae

FAQs About SHAMS Approved Auditors

What is a SHAMS-approved auditor?

A SHAMS-approved auditor is an auditor who meets the relevant approval or eligibility requirements established by the authority. Businesses should verify the current requirements and the auditor’s status before making an appointment.

Why is auditing important for businesses in SHAMS?

An audit provides an independent examination of financial statements and supporting records. It can help assess the reliability of reported financial information and support applicable reporting responsibilities. Companies should confirm their specific audit obligations with SHAMS.

Is an audit mandatory for every SHAMS company?

Audit obligations depend on the applicable rules and the circumstances of the company. Confirm the current requirements for your registration with SHAMS or a qualified professional adviser.

Is ARCA Auditors approved by SHAMS?

Contact ARCA Auditors to confirm its current SHAMS approval status and eligibility to undertake the audit required for your company. Verify approval before finalising an appointment.

What documents are required for a SHAMS audit?

Commonly requested documents include the trial balance, general ledger, financial statements, bank statements, invoices and supporting schedules. The appointed auditor will provide a checklist tailored to your company’s activities and transactions.

Can an audit help identify fraud or financial irregularities?

Audit procedures may identify indicators of misstatements, irregular transactions or control weaknesses. However, a financial statement audit is not a guarantee that every instance of fraud or money laundering will be detected. Specialised investigative work may be needed where concerns arise.

Can small businesses in SHAMS benefit from an audit?

Small businesses can benefit from organised financial records and an independent examination where appropriate. Whether an audit is required depends on the rules and circumstances applicable to the specific company.

Can an auditor assist with SHAMS licence renewal?

Financial statements and audit reports may form part of the documentation required for certain reporting or renewal processes. Confirm the current requirements with SHAMS and ensure that the appointed auditor meets the applicable eligibility criteria.

How much does a SHAMS audit cost?

Audit fees can depend on transaction volume, business activity, accounting record quality, reporting complexity and the scope of work. Contact our team to discuss your requirements and request a quotation.

Can ARCA Auditors help with accounting and tax services?

ARCA Auditors, now part of Horizon Biz Consultancy, can discuss accounting, bookkeeping, financial reporting and tax-related support based on your business needs and the services available for your engagement.

How do I get started with an audit enquiry?

Contact our team through the enquiry form on this page. Share your company details, financial year-end and the support you require so that your enquiry can be reviewed and the next steps discussed.

Talk to Our Team

Looking for SHAMS Approved Auditors?

Need help understanding your Sharjah Media City audit requirements? Contact ARCA Auditors, now part of Horizon Biz Consultancy, to discuss your company’s financial reporting needs, audit preparation and next steps.