BINJOY Auditors L.L.C

Statutory Audit

Statutory Audit in UAE

BINJOY offers comprehensive statutory audit services in the UAE, ensuring organizations present an accurate and fair representation of their financial standing. A best statutory audit services is a legally mandated review of a company's financial records, adhering to the auditing standards accepted in the country.

 Key Aspects of Statutory Audits:

Our auditors gain insights into the entity’s internal controls by obtaining audit evidence through:

  • Examination and inspection of books and inventory
  • Inquiries and observations
  • Confirmations and analytical procedures

 

Legal Framework:

According to UAE Federal Law No. 32 of 2021 (Article 102 of the Commercial Companies Law 2021):

  • Limited Liability Companies (LLC) : Must appoint one or more auditors annually, elected by the General Assembly of the partners.
  • Joint Stock Companies : Article 248 outlines the auditor’s duties, including auditing accounts, inspecting the balance sheet and profit and loss account, reviewing transactions with related parties, and ensuring legal compliance.

 

Auditors Responsilities :

When preparing the report, the auditor shall confirm:

  • The accuracy and completeness of the company's accounting records.
  • Consistency between the company's records and its accounting documentation.
  • A thorough review of all records, documents, and papers related to the company.
  • Necessary explanations and verification of the company's assets, rights, and obligations.
  • Reporting any lack of necessary facilities to the Board of Directors and relevant authorities if unresolved.

 Benefits of Statutory Audit Services in UAE 

  • Improves Reputation: Enhances the company's credibility and trustworthiness.
  • Determines Financial Position: Provides a clear financial status for business dealings.
  • Ensures Compliance: Confirms adherence to legal and statutory requirements.


Why BINJOY?

BINJOY stands out as a professional accounting firm in the UAE, committed to thorough organizational analysis and insightful recommendations. Our experienced professionals deliver effective solutions tailored to enhance your company's operations and ensure compliance with statutory requirements.

Our Approach:
  • Performance Enhancement: Focusing on identifying and addressing gaps.
  • Optimal Recommendations: Providing actionable insights for improvement.

For unparalleled accounting services in the UAE, connect with us today and experience the BINJOY difference.