Internal Audit Services in Dubai, UAE

Athos Auditors uses a risk-based approach to review the governance, business risks and internal controls relevant to your organisation. The scope may cover financial reporting, approvals, reconciliations, procurement, inventory, payroll, revenue, system access, UAE VAT, Corporate Tax, transfer pricing and applicable AML/CFT procedures. Management receives risk-rated findings, practical recommendations and an action plan showing the responsible person and target completion date. Follow-up testing can also be conducted to confirm whether agreed actions have been implemented.

Internal audit is not mandatory for every private company in the UAE. The requirement depends on the company’s legal form, licensed activity, industry and regulator. Certain listed companies and regulated financial institutions may be required to maintain an internal audit function under the applicable corporate governance or regulatory framework. For mainland companies, private groups and SMEs where no specific legal requirement applies, internal audit remains useful for reviewing controls, identifying financial and compliance risks, supporting management oversight and preparing for external audits or regulatory reviews.

An external audit provides an independent opinion on whether the company’s annual financial statements have been prepared in accordance with the applicable financial reporting framework. It may be required by law, a free zone authority, shareholders, banks or other stakeholders. Internal audit reviews the organisation’s governance, risk management and internal controls across financial reporting, operations, technology, compliance and fraud prevention. External audit focuses mainly on the annual financial statements, while internal audit examines how the business manages risks and whether its controls are operating effectively.

Internal controls are the policies, approval procedures, system checks and working practices introduced by management to protect company assets, maintain reliable records and reduce business risks. Internal audit is the independent review that assesses whether those controls are properly designed, consistently followed and operating as management intended. For example, requiring two approvals before releasing a supplier payment is an internal control, while testing whether those approvals were actually obtained is part of an internal audit.

Internal audit is not generally mandatory for every company registered in DMCC. DMCC companies are required to submit annual audited financial statements through the applicable external audit process, but this is different from internal audit. A DMCC company may use internal audit to review financial controls, related-party transactions, procurement, inventory, revenue, recordkeeping and applicable AML/CFT procedures before the annual external audit or a compliance review. The scope should reflect the company’s size, licensed activity and regulatory responsibilities.

The frequency of internal audit depends on the company’s size, transaction volume, industry risks, previous findings, regulatory requirements and management priorities. A stable business with established controls may conduct an annual review, while larger groups, rapidly growing companies or businesses with higher-risk processes may require half-yearly or quarterly audits. Continuous monitoring may be appropriate for high-volume transactions, repeated control failures or areas requiring regular compliance checks. A risk assessment should determine how often each area needs to be reviewed.

The cost of internal audit services depends on the agreed scope, number of companies or branches, processes being reviewed, transaction volume, locations, availability of records and any specialist testing required. A focused audit of payroll, procurement or inventory will have a different scope and fee from a complete outsourced internal audit programme. Athos Auditors provides a fixed-fee proposal after reviewing the company’s requirements and confirming the work involved. Contact our team at +971 4 572 9701 to discuss your internal audit scope.

Yes. Athos Auditors can provide a fully outsourced internal audit function covering risk assessment, audit planning, fieldwork, reporting and follow-up reviews. We can also work alongside an existing internal audit team by providing co-sourced support in areas such as IT controls, AML/CFT, tax processes, fraud risk and operational reviews. Management remains responsible for implementing controls and corrective actions, while significant findings and the overall internal audit plan should be reported through the agreed board or audit committee structure.

Internal auditors may coordinate documents, interviews and fieldwork with company management, but significant findings and the performance of the internal audit function should normally be reported to the board of directors or audit committee. This reporting structure supports independence and allows important risks, scope restrictions and delays in corrective actions to be communicated objectively. Administrative matters can remain with management, while the board or audit committee oversees the internal audit plan, major findings and follow-up process.

At the end of an internal audit engagement, management normally receives an executive summary, detailed findings, risk ratings, the business impact of each issue and the likely reason the control weakness occurred. The report also includes practical recommendations, agreed management actions, responsible action owners and target completion dates. Where follow-up work is included, a separate status report confirms which actions have been completed, which remain open and which risks have been formally accepted by management.