How to achieve a successful annual audit for your company

For good reason, audit firms in Dubai are regarded as the gatekeepers to a company's reputation. They uphold corporate governance while assisting shareholders and other company parties in making important financial choices. The business companies' law Federal Law No. 2 of 2015 helps to explain the auditing procedure in the UAE.

Every joint-stock company that is a limited liability company LLC is required by Article 27 of the Commercial Company's Law or Company Law to select one or more UAE auditors to audit the accounts each fiscal year. It enables alternative business models, such sole proprietorships, to choose an auditor in accordance with legal requirements.

The type of companies determined under the law should prepare financial accounts yearly and need to follow the international accounting standards and practice while creating or preparing the report, that’s why giving a clear overview of the profits and losses of the company