Audit services in the UAE
Define the question before the review. An internal audit, an external financial statement audit and an inventory audit have different purposes. Choosing the right scope prevents a limited review from being mistaken for an audit opinion.
Which service fits the requirement?
Internal audit examines selected risks, processes and controls. External audit is an independent engagement on financial statements. Inventory work can test quantities, movements and supporting records. The engagement letter establishes what is examined and what the resulting report will mean.
Where an authority requires an approved auditor or a registered signatory, eligibility and independence must be confirmed for that engagement. Preparing accounts or helping with an audit file does not, on its own, provide an independent audit opinion.
Internal audit
Firswood carries out internal audit reviews for organisations in Dubai, Abu Dhabi and across the UAE.
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External audit
Firswood supports external audit engagements for businesses in Dubai, Abu Dhabi and across the UAE.
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Inventory audit
Firswood provides inventory verification and audit support in Dubai, Abu Dhabi and across the UAE.
View serviceQuestions about audit.
How is internal audit different from external audit?
Internal audit examines selected risks, processes and controls for management or those overseeing the organisation. An external financial-statement audit has a different purpose and reporting framework. One does not automatically replace the other. We establish the intended users and expected output before deciding which engagement fits the requirement.
Does every UAE business need an external audit?
The answer depends on legal form, licensing rules, tax status and contractual requirements. A Corporate Tax threshold is only one part of that assessment. Share the company documents and the request you have received, and we can identify the applicable reporting requirement before proposing the engagement.
Is an inventory audit the same as a stock count?
Not necessarily. A stock count establishes quantities at a point in time. An inventory engagement may also examine records, cut-off, ownership, costing or controls. The proposal defines which procedures are included and what the resulting report means, so a quantity check is not mistaken for a full valuation or financial audit.
Tell us what needs doing.
A set of accounts, a filing or a question that needs an answer. Start there.