Independent of day-to-day finance operations
Internal Audit Services
Process and control reviews independent of day-to-day finance operations, for UAE businesses without an internal audit function of their own — a management tool for finding weaknesses before they become losses, not a legal filing requirement.
Most valuable exactly where a business senses a gap but can't pinpoint it
Key facts
| Distinct from statutory audit | No external filing obligation — a management tool, not a legal requirement |
| Typical scope | Process reviews, control testing, fraud risk assessment |
| Frequency | Annual as standing practice, or targeted around a specific process or concern |
What this actually involves
Statutory audit gives an opinion on whether your financial statements fairly represent your financial position — it isn't designed to deep-dive into whether your procurement process has adequate segregation of duties, or whether your inventory controls would actually catch theft before it compounds. Internal audit fills exactly that gap, independent of the people running the process day-to-day.
The most valuable internal audits are targeted, not exhaustive — a specific process (procurement, cash handling, inventory management, expense approval) reviewed in real depth surfaces more actionable findings than a broad, shallow review of 'everything.' Businesses that sense something's not quite right in a specific area, without being able to articulate exactly what, are ideal candidates for a focused review there.
Fraud risk assessment is a natural extension of process and control review — most fraud isn't sophisticated; it exploits basic control gaps (a single person with both approval and payment authority, for instance) that a structured review identifies quickly and that closing costs almost nothing to fix once found.
Is this actually relevant to you?
- You don't have an in-house internal audit function and want an independent review of a specific process or control area
- You sense something isn't quite right in a specific area of the business but can't articulate exactly what
- You're concerned about fraud risk given specific control gaps you suspect but haven't formally assessed
- You want an annual, standing internal audit practice as part of good governance, even without a formal internal requirement
Our process, step by step
Process & control review
Independent assessment of a specific process or function, mapped as it actually operates.
Fraud risk assessment
Identifying control weaknesses that create fraud opportunity, before they're exploited.
Findings report & remediation plan
Practical, prioritised recommendations, not just a list of problems with no path forward.
Follow-up review
Confirming remediation actions were actually implemented, not just recommended.
Scope of work
Internal audit often extends into an operational audit or an IT systems audit, and the agreed controls are best written into an accounting manual.
The recurring findings across most first-time internal audits
- A single person holding both approval and payment authority over the same transaction type, with no segregation of duties.
- Expense approval processes that exist on paper but aren't actually enforced in practice, discovered only when specifically tested.
- Inventory or cash-handling controls that would catch a large discrepancy but miss smaller, repeated ones that compound over time.
Related audit services in Dubai and the UAE
Statutory, internal and specialist audits by our licensed audit practice.
Related guides from our team
Practical explanations of the rules behind this service, written by our chartered accountants.
Common questions
How is internal audit different from statutory audit?+
Statutory audit is a legal/licence requirement reported externally, focused on financial statement accuracy; internal audit is a management tool reviewing controls and processes, with no external filing obligation.
Do we need internal audit if we already have statutory audit?+
They serve different purposes — statutory audit doesn't typically deep-dive into operational controls the way a targeted internal audit does; many businesses genuinely benefit from both.
How do we decide which process to review first?+
Start with whatever process you sense is weakest, or where the financial exposure of a control failure would be largest — cash handling and procurement are common starting points.
Is internal audit only relevant for larger companies?+
No — even a small business benefits from a targeted review of a specific high-risk process; the scope simply scales down accordingly.
What happens after the findings report is delivered?+
We recommend a follow-up review after remediation actions have had time to take effect, confirming they were actually implemented, not just agreed to on paper.
Have a specific process or control concern you can't quite pin down?
Tell us what's worrying you — we'll scope a targeted review rather than a generic full-function audit.