External financial statement audit
Risk-based audit of annual financial statements and disclosures under the applicable reporting and auditing framework.
Services we provide
Our Audit and Assurance services
The form of engagement is selected according to the required level of assurance, reporting framework and intended users.
Free Zone and renewal audits
Audit planning and reporting aligned with the relevant Free Zone authority, licence-renewal timetable and submission format.
Internal audit
Outsourced or co-sourced internal audit plans covering finance, operations, compliance, governance and risk management.
Agreed-upon procedures
Precisely defined procedures performed on specified financial or operational information, with factual findings reported to intended users.
Financial due diligence
Buy-side, sell-side and investment review of earnings, working capital, debt, cash, tax exposures, controls and financial trends.
Process and internal-control review
Walkthroughs, control design and operating-effectiveness assessment, gap analysis and practical remediation recommendations.
Forensic and investigation support
Focused review of suspected irregularities, disputed balances, unusual transactions, asset use or control override.
Audit readiness and reporting support
Pre-audit close review, schedule preparation, IFRS support and working-paper organisation for a smoother independent audit.
Service overview
An audit should strengthen confidence in the numbers and the process behind them.
Independent assurance supports shareholders, regulators, Free Zone authorities, banks, investors and management. The value comes not only from the final opinion or report, but from disciplined planning, robust evidence and timely communication of control or reporting issues.
CBMC scopes each engagement around the entity, applicable reporting framework, stakeholder purpose and risk profile. We agree the information timetable, perform risk-based procedures, discuss findings as they arise and maintain a clear trail from source records to the final report.
Engagement and reporting considerations
The right engagement depends on who needs assurance and why.
A statutory audit, agreed-upon procedures engagement and internal audit do different jobs and should not be treated as interchangeable.
Entity and authority requirements
Audit obligations may arise from the legal form, Commercial Companies legislation, constitutional documents, Free Zone rules or sector regulation.
Stakeholder requirements
Banks, investors, shareholders, landlords, tendering authorities or group reporting may require audited or independently reviewed information.
IFRS financial reporting
UAE companies commonly prepare financial statements using International Financial Reporting Standards or another applicable accepted framework.
International auditing standards
External audits are generally planned and performed under applicable International Standards on Auditing and professional requirements.
Independence and scope
The assurance provider must evaluate independence, conflicts and whether the requested scope is suitable for the intended report.
Evidence and timing
A clean close, reconciled balances, complete supporting schedules and early issue resolution reduce delay and reporting risk.
Regulatory treatment depends on the facts, legal form, transactions and current legislation. This page provides general information and does not replace a formal engagement assessment.
How we work
A controlled process from first review to final delivery
Planning starts early, information requests are prioritised and findings are discussed before final reporting.
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01
Acceptance and scope
Confirm the entity, users, purpose, framework, independence, timetable, locations and reporting requirements.
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02
Risk assessment and planning
Understand the business, systems, controls and material balances; set materiality and tailor the audit plan.
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03
Interim work and control testing
Perform walkthroughs, test relevant controls and address high-risk or judgemental areas before year-end where possible.
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04
Year-end fieldwork
Test transactions and balances, obtain confirmations, review estimates, evaluate disclosures and complete analytical procedures.
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05
Clearance and governance reporting
Resolve open items, discuss adjustments, communicate control findings and obtain management representations.
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06
Final report and improvement actions
Issue the agreed report, management letter and recommendations, then capture actions for the next reporting cycle.
Engagement output
Clear deliverables and clear ownership
Every engagement is scoped around defined outputs, responsibilities and review points.
Engagement plan and information request list
Risk and materiality assessment
Audit or procedure working papers
Proposed adjustment and uncorrected-item schedule
Governance and management communications
Independent audit, assurance or factual-findings report
Internal-control findings and prioritised recommendations
Next-cycle close and readiness actions
Who we support
Assurance for regulated, growing and stakeholder-facing businesses.
We tailor the engagement to the reporting purpose, sector, ownership and authority requirements.
Why CBMC
Partner led work with one accountable standard
Your engagement is organised around clear ownership, reconciled information, documented conclusions and practical communication throughout the assignment.
Partner led accountability
A named senior contact coordinates the engagement and remains responsible for quality and deadlines.
UAE specific analysis
Advice is structured around your licence, legal form, Emirate, Free Zone status, activities and transaction flows.
Review ready records
Working papers, reconciliations and supporting documentation are organised to withstand professional review.
Commercially useful reporting
Technical compliance is translated into decisions, priorities and practical next steps.
Frequently asked questions
Questions businesses ask before engaging us
Is an audit mandatory for every UAE company?+
Requirements vary by legal form, applicable law, Free Zone or regulator, constitutional documents and stakeholder arrangements. The entity’s specific obligation should be checked rather than assumed.
What is the difference between an audit and agreed-upon procedures?+
An audit provides an opinion on financial statements under an assurance framework. Agreed-upon procedures report factual findings from procedures specifically agreed with intended users and do not provide an audit opinion.
How early should audit preparation begin?+
Planning should begin before year-end where possible. Early work on opening balances, systems, controls, confirmations and complex transactions can materially reduce final-stage delay.
What information is normally required?+
Typical items include the trial balance, financial statements, ledgers, bank records, contracts, invoices, tax returns, fixed-asset schedules, confirmations, board records and supporting reconciliations.
Can CBMC help us become audit-ready?+
Yes. Audit-readiness work can address closing entries, reconciliations, schedules, accounting policies, disclosures and document organisation before the independent assurance work begins.
Do you provide internal audit on an outsourced basis?+
Yes. We can design a risk-based annual plan, perform individual reviews, report to management or the board and track remediation actions.
Can you perform financial due diligence for an acquisition?+
Yes. The scope may include quality of earnings, working capital, debt-like items, cash, historical trends, forecasts, tax exposures and control observations.
Related services
A connected finance and compliance function
Combine services where one workstream depends on another and avoid duplicated data requests.
Start the conversation
Plan the audit before the reporting deadline becomes urgent.
Tell us the entity, financial year-end, authority or stakeholder requirement and current state of the accounts. We will identify the suitable engagement and readiness timetable.