Financial Statement Audit
IFRS-Compliant, Audit-Ready
Financials for Regulatory Confidence
IFRS-Compliant, Audit-Ready Financials for Regulatory Confidence
Under the UAE Commercial Companies Law, Corporate Tax Law, and Free Zone regulations, most businesses are required to prepare audited financial statements that fairly reflect their financial health. These include the income statement, balance sheet, cash flow statement, and detailed IFRS-aligned disclosures.
At AKW Consultants, we help businesses across mainland and free zones prepare clean, accurate, and audit-ready financial statements. Our goal is to minimise audit delays, reduce red flags, and ensure full compliance with UAE regulatory requirements.
Whether you’re a startup, QFZP entity, or multi-entity tax group, we ensure your financial reporting is aligned with IFRS / IFRS for SMEs and tailored to your compliance obligations.
Five Common Financial Statement Audit Issues We Solve
01
Disorganised Records
Unreconciled ledgers, outdated balances, missing documents.
02
Incorrect IFRS Application
Errors in leases, provisions, revenue recognition, impairment.
03
Unsupported Estimates
No evidence for key accounting judgments.
04
Disclosure Gaps
Omitted related-party transactions, tax exposure, or contingent liabilities.
05
Regulatory Confusion
Unclear whether audit is required under UAE laws and Free Zone rules.
What’s Included in an Audited Financial Statement
An external auditor issues a formal opinion on whether your statements are free of material misstatement and compliant with IFRS. Typically included:
Income Statement
(P&L)
Balance Sheet
(Statement of
Financial Position)
Cash Flow
Statement
Statement of
Changes in Equity
(if required)
Detailed Notes
& Disclosures
HOW WE HELP
Our Financial Statement Audit Solutions
Audit Preparation & Drafting
- Prepare and review P&L, balance sheet, and cash flows
- Reconcile banks, AR/AP, inventory, and intercompany balances
- Review GL entries, schedules, and supporting documents
Regulatory & IFRS Compliance
- Map reporting obligations under Corporate Tax, Free Zones, and CCL
- Apply IFRS or IFRS for SMEs depending on thresholds
- Align with tax filing needs for QFZPs, groups, and relief schemes
IFRS Advisory & Implementation
- Handle complex treatments: leases, deferred taxes, impairments
- Perform gap analysis against IFRS standards
- Deliver SOPs and IFRS training for your finance team
Auditor Coordination & Finalisation
- Liaise directly with licensed auditors to reduce delays
- Respond to audit queries with reconciliations & working papers
- Support final sign-off and regulatory submission
Why Businesses Choose AKW for Financial Audit Support
IFRS Experts
Chartered Accountants with UAE statutory
& IFRS experience
Regulatory Depth
Expertise in Corporate Tax, QFZP filing, group
consolidation, and relief schemes
Cross-Zone Experience
Working across DMCC, DIFC, ADGM, RAKEZ,
and other Free Zones
Audit Coordination
Minimise back-and-forth
with external auditors
Proactive Risk Mitigation
Spot and fix gaps before
they become audit issues
Be Fully Prepared for Your Next Audit
Whether you're a mainland company, QFZP, tax group, or a startup looking to secure funding, we can help ensure your financial statements are audit-compliant and strategically aligned with your tax and business objectives.