G12 delivers independent External Audit Services to verify financial accuracy and ensure strict compliance with UAE Corporate Tax, IFRS, and Federal Decree-Law No. 32 of 2021. We provide the statutory assurance required by government authorities, banks, and stakeholders.
Financial transparency is a statutory obligation in the UAE. Under the UAE Commercial Companies Law and strict Corporate Tax regulations, businesses must maintain audited financial statements to prove their taxable income is accurate. Failure to present audited accounts can result in license non-renewal, banking freezes, and heavy FTA penalties.G12 acts as your independent auditor. We examine your financial records to express an opinion on their fairness and accuracy. This validation is not just a legal requirement; it is the primary document banks and investors rely on to assess your company’s creditworthiness and stability.
G12 conducts audits in accordance with International Standards on Auditing (ISA). We focus our resources on high-risk financial areas to deliver an efficient audit process that minimizes disruption to your business.
We analyze your industry, business model, and internal control environment to identify areas with the highest risk of material misstatement. This allows us to design a focused audit plan.
Our team assesses the design and implementation of your internal financial controls. We determine if your systems are capable of preventing or detecting errors in financial reporting.
We gather audit evidence through physical verification of assets, third-party confirmations (banks/customers), and detailed testing of transactions to ensure figures match reality.
We issue an Independent Auditor’s Report expressing our opinion on your financial statements. We also provide a Management Letter highlighting any control deficiencies found during the process.
Reporting is useless without rectification. We conduct follow-up reviews to verify that management has implemented the agreed-upon remediation plans effectively.
When closing a business, authorities require a final liquidation audit report. We verify that all liabilities are settled and assets distributed, issuing the report necessary to obtain the final deregistration certificate.
G12 is a government-approved audit firm authorized to serve entities across Mainland Dubai and all major Free Zones.
We conduct mandatory annual audits for Mainland LLCs and corporations. This is critical for companies with revenue exceeding AED 50 million to comply with the Corporate Tax Law.
We are approved auditors for major Free Zones, including DMCC, JAFZA, DAFZA, IFZA, and DSO. We ensure your financial reports meet the specific submission deadlines and formats required by each Authority for license renewal.
Taxable income is derived from audited financial statements. We review your financials to ensure they align with Federal Decree-Law No. 47, ensuring that non-deductible expenses and exempt income are correctly classified before tax filing.
Engaging G12 ensures your financial statements hold weight with regulators and financial institutions.
Timely submission of audited reports prevents penalties from Free Zone authorities and the Federal Tax Authority.
UAE banks require audited financials to renew credit facilities or approve business loans.
An independent audit report builds trust with shareholders, suppliers, and potential investors.
While not the primary purpose, our rigorous testing often uncovers irregularities or financial mismanagement.
Unverified financial statements are a risk to your reputation and legal standing. Partner with G12 to ensure your accounts are accurate, compliant, and ready for scrutiny by any government body. Contact our Audit Team today.
External audits are mandatory for all Qualifying Free Zone Persons (QFZPs) claiming 0% tax, Mainland companies with revenue over AED 50 million, and all companies listed in Free Zones like DMCC and JAFZA. Banks also mandate audits for any company holding a credit facility.
Deadlines vary by jurisdiction. For example, DMCC companies must submit audited financials within 90 days of the financial year-end. For Corporate Tax purposes, financial statements must be retained for seven years and presented upon FTA request.
Yes. G12 is a registered audit firm in the UAE, fully authorized to conduct audits for Mainland LLCs and approved by major Free Zone authorities, including JAFZA, DAFZA, and DMCC.
Your Corporate Tax Return is based on your financial statements. If your financials are not audited and verified, errors in taxable income calculation can lead to significant tax penalties. An external audit validates the figures you submit to the FTA.
We typically require your Trial Balance, General Ledger, Bank Statements, Invoices (Sales/Purchase), Asset Register, and details of any loans or leases. We also review Board Minutes and legal contracts.