Audit Support & IFRS Advisory

In an environment of evolving standards, complex transactions, and increased regulatory scrutiny, businesses need strong technical accounting support and structured audit readiness. Our IFRS advisory and audit support services help finance teams strengthen reporting, improve compliance and reduce audit risks.

We support organizations in interpreting complex accounting standards, strengthening reporting frameworks, and prepare audit ready documentation across IFRS and other GAAPs like UK GAAP, Ind AS, Czech GAAP, German GAAP and US GAAP.

Key Challenges We address

• Reducing audit issues through proactive audit readiness aligned with UAE statutory, Free Zone, and DIFC audit expectations.
• Providing technical accounting clarity on complex and judgement-driven areas including IFRS interpretation as required by UAE regulators, auditors, and lenders
• Accelerating month-end close while maintaining control and accuracy
• Simplifying GAAP transitions and first-time complexities including first time IFRS adoption and alignment with UAE Corporate Tax computation requirements.

Our Services

1) IFRS Advisory

Technical Accounting & Policies

• Interpretations and application of IFRS.
• Development of accounting policy frameworks and manuals aligned to IFRS.
• Preparation of technical memos/position papers for auditors and stakeholders.
• Advisory on complex estimates including ECL, impairment, provisions, share based payments, etc.

Financial Reporting & Close Support

• Preparation/review of standalone & consolidated financials as per IFRS.
• Drafting of disclosures, notes to accounts, and compliance checklists aligned with IFRS and local regulatory expectations.
• Group reporting and consolidation packs, and intercompany reconciliations.
• End-to-end month end close support including reconciliations, accruals and adjustments, while maintaining audit readiness for UAE statutory and tax purposes.

Implementation Of Accounting Standards and Principles

• Revenue (IFRS 15): contract assessment, variable consideration, principal vs agent
• Leases (IFRS 16): lease identification, ROU asset measurement, discount rates, modified/short term leases
• Financial Instruments (IFRS 9): classification & measurement, EIR, hedge accounting, ECL modelling
• Impairment & Fair Value (IAS 36, IAS 38): CGU assessments, valuation models, documentation

Transaction & Restructuring Accounting

• Accounting for Business combinations (IFRS 3) including purchase price allocation and Goodwill
• Group restructurings, mergers, demergers and common control transactions
• Equity/debt instruments, preference shares, convertibles, ESOPs

GAAP Conversion & First Time Adoption

• Conversion from Local GAAP to IFRS.
• Transition planning under IFRS 1 including opening balance sheet preparation, with consideration of UAE Corporate Tax opening positions.

Development of conversion models, reconciliations, and transition disclosures, supporting audit, regulatory, and tax alignment in the UAE

2) Audit Support

Pre Audit Readiness

• Support in preparation of documents as part of initial requirement list shared by auditors.
• Financial statements tie outs, cross referencing and documentation alignment under IFRS based reporting commonly required in the UAE.
• Review and strengthening of control documentation and audit trails

During the Audit

• End-to-end coordination with statutory/internal/group auditors, including coordination with UAE based audit firms where required.
• Responding to RFIs, submission of evidence, and managing audit tracker
• Addressing audit observations and resolving queries, including areas impacting IFRS judgement and UAE Corporate Tax positions

Post Audit Closure

• Finalization of adjustments and disclosure ensuring consistency across audited financials and UAE tax filings
• Remediation of management letter and control gaps
• Identification of process improvements for future close and audit cycles

Our Differentiators

• Deep technical expertise across various GAAPs including IFRS with practical application in UAE and Dubai environments where IFRS is the primary reporting framework.
• Audit ready documentation aligned with industry best practices, meeting UAE statutory, Free Zone, and DIFC audit and governance expectations.
• Hands on delivery with fast turnaround and clear communication.
• End to end support from close to consolidation to audit sign off, including coordination with UAE based audit firms through established tie ups to support statutory attestation and local compliance requirements
• Strong sector experience and pragmatic advice tailored to your business.