Definition

A Financial Audit is an independent examination of a company’s financial statements to ensure accuracy, reliability, and compliance with accounting standards such as IFRS.

Key Points

• Conducted by licensed audit firms
• Required in many UAE free zones and for tax compliance credibility
• Confirms accuracy of reported figures and internal controls
• Often requested by banks, investors, and tax authorities

Example

A Dubai free zone company completes its annual Financial Audit to submit audited financials for corporate tax assessment and banking requirements.