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Audit & Assurance

Audit Services: Internal, Statutory, and Performance Audit

Stakeholders, regulators, and lenders need confidence that a company’s financial information is accurate and compliant. An audit provides that assurance through an independent examination of an organisation’s financial records, systems, and processes assessing accuracy, transparency, regulatory compliance, and operational efficiency. Under the UAE’s regulatory framework, audits strengthen corporate governance and give stakeholders confidence in the numbers.

Internal Audit

Internal audit independently evaluates and helps improve your risk management, internal controls, and governance. It is ongoing and focused on how the business actually operates.

Scope
  • Risk assessment and control evaluation
  • Process efficiency and operational reviews
  • Regulatory compliance monitoring
  • Fraud prevention and detection
  • Governance and internal control assessment
Benefits
  • Identifies operational inefficiencies and areas to improve
  • Strengthens internal controls
  • Helps mitigate business risks
  • Supports decision-making with objective findings
  • Improves compliance with applicable regulations

Statutory Audit

A statutory audit is a legally required examination of an entity’s financial statements, conducted under the International Standards on Auditing (ISA). It provides an independent opinion on whether the statements give a true and fair view of the entity’s financial position and performance.

UAE Requirements

Under Ministerial Decision No. 82 of 2023, audited financial statements are required for:

  • Taxable Persons with revenue exceeding AED 50 million during the tax period.
  • Qualifying Free Zone Persons, regardless of revenue.
Benefits
  • Adds credibility to financial statements
  • Supports regulatory compliance
  • Increases stakeholder confidence
  • Helps identify financial reporting issues
  • Supports access to financing and investment

Performance Audit

A performance audit evaluates whether an organisation’s resources, processes, and operations are being used efficiently, effectively, and economically. It focuses on improving business performance by identifying operational gaps, inefficiencies, and opportunities for optimisation.

Scope
  • Review of operational efficiency and productivity
  • Evaluation of resource utilisation and cost management
  • Assessment of key business processes and controls
  • Analysis of performance against objectives and KPIs
  • Identification of improvement opportunities and best practices
Benefits
  • Enhances operational efficiency and effectiveness
  • Identifies cost-saving opportunities
  • Improves resource allocation and utilisation
  • Supports strategic decision-making
  • Strengthens accountability and performance monitoring
  • Drives continuous improvement across the organisation

Why Choose Legacy Partners for Audit Services

We deliver reliable, independent, and value driven audit services with a strong focus on UAE regulatory compliance and international standards. Our practical approach ensures accuracy, transparency, and compliance while providing actionable insights that strengthen governance, improve business performance, and support informed decision making.

  • • ISA-aligned methodology audits conducted in line with the International Standards on Auditing (ISA) for reliable, defensible opinions.
  • • UAE regulatory expertise current with Ministerial Decision No. 82 of 2023, Federal Tax Authority (FTA) requirements, and Free Zone obligations.
  • • Integrated advisory audit, Corporate Tax, VAT, and corporate compliance handled under one roof, so audit findings connect directly to practical next steps.
  • • Risk-focused approach audits target the areas that matter most to your business, stakeholders, and regulators.
  • • Clear, actionable reporting findings and recommendations presented in plain language your team can act on.
  • • Experience across structures supporting SMEs, Free Zone entities, and group structures operating in the UAE.

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