In an increasingly complex regulatory environment, accurate and independent auditing is essential for maintaining stakeholder confidence, ensuring compliance, and making informed business decisions. Ashfaq and Associates provides comprehensive auditing services to businesses across the UAE, combining international best practices with deep local expertise.
Our audit approach is built on three pillars: independence, accuracy, and value addition. We don't just check boxes—we provide insights that help you improve financial controls, identify risks, and optimize operations. Whether you require a statutory audit for regulatory compliance or an internal audit to strengthen governance, our multidisciplinary teams bring proven methodologies and the latest auditing technologies to every engagement.
As ICAI-certified Chartered Accountants with over 15 years of experience in India and 5+ years in the UAE, we understand the unique requirements of businesses operating in free zones, mainland setups, and across different emirates. Our audit reports are recognized by banks, regulators, and investors, providing you with the credibility needed for growth and expansion.
Our Auditing Services
1. Statutory Financial Audits
Mandatory audits for companies as required by UAE Commercial Companies Law and free zone regulations. We examine your financial statements, verify transactions, assess internal controls, and issue audit opinions that comply with International Standards on Auditing (ISA).
- Annual financial statement audits
- Free zone and mainland compliance audits
- Bank audit requirements
- Audit reports for visa and license renewals
2. Internal Audits
Strengthen your organization's internal controls and risk management framework. Our internal audit services help you identify operational inefficiencies, prevent fraud, and ensure compliance with policies and procedures.
- Operational and process audits
- Fraud detection and prevention
- IT systems and cybersecurity audits
- Compliance and regulatory reviews
3. Due Diligence & Transaction Audits
Planning a merger, acquisition, or investment? Our due diligence services provide comprehensive financial, operational, and compliance reviews to help you make informed decisions.
- Financial due diligence for M&A
- Vendor and supplier audits
- Pre-acquisition compliance reviews
- Valuation support
4. Compliance & Regulatory Audits
Navigate the UAE's evolving regulatory landscape with confidence. We conduct compliance audits covering VAT, Corporate Tax, Economic Substance Regulations (ESR), Anti-Money Laundering (AML), and other regulatory requirements.
- VAT compliance audits
- Corporate Tax readiness assessments
- ESR compliance reviews
- AML and KYC policy audits
Why Choose Our Audit Services?
Proven Methodology
We use globally recognized audit frameworks and risk-based approaches that ensure comprehensive coverage and efficiency.
Technology-Driven
Leveraging advanced audit software and data analytics tools for accurate, timely, and transparent audit processes.
Experienced Team
ICAI Chartered Accountants with multi-industry experience across retail, hospitality, real estate, technology, and more.
Value Beyond Compliance
Our audits don't just identify issues—we provide actionable recommendations to improve controls and efficiency.
Frequently Asked Questions
Is an audit mandatory for my company in UAE?
Yes, most companies in the UAE are required to conduct annual statutory audits. This includes mainland LLCs, free zone companies (depending on the free zone), and companies with specific licensing requirements. Banks and visa authorities also often require audited financial statements.
How long does an audit typically take?
The duration depends on the size and complexity of your business. For small to medium enterprises with organized records, a statutory audit typically takes 2-4 weeks. We work efficiently to minimize disruption to your operations.
What documents do I need to provide for an audit?
Typically, we require financial statements, general ledgers, bank statements, invoices, contracts, legal documents (trade license, MOA), and previous audit reports. We'll provide a detailed checklist during the engagement planning phase.
Can you help prepare financial statements for audit?
Yes! We offer comprehensive accounting services to prepare IFRS-compliant financial statements before the audit. This ensures a smoother audit process and faster completion.
What is the difference between external and internal audits?
External (statutory) audits are independent examinations of financial statements for compliance and accuracy, required by law. Internal audits are voluntary assessments of internal controls, processes, and risk management to improve operational efficiency and governance.