Advisory & Consulting
Assurance
Since 20178 Of Experience in This Finance Advisory Company.
- FTA approved tax agency
- Fixed fees, quoted up front
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Advisory & Consulting
Three services under assurance
Business Valuation Assurance in UAEWith a team of experts in the Accounting sector, making sure the accuracy of your financial records and statements, and that you are compliant with Accounting standards and regulation has never been easier.Read more
Due Diligence AssuranceWhen carrying out business transactions, for example, mergers, acquisitions, or joint ventures, due diligence is the predominant task, which in its turn is since risks are being sufficiently spread and decisions are made on the ground o...Read more
Risk Assurance in UAEIn today's business stage where the situation is getting more and more challenging and highly competitive, effective risk management is the very vicinity determining between business success and sustainability. Companies in the UAE are...Read more
In plain terms
What assurance means here
Assurance is independent verification of something a business is about to rely on. A number, a set of records, or a control that somebody has said is working. The point of it is not the document at the end. It is that the person reading the document did not produce the thing being checked, and has no reason to flatter it.
Three engagements sit under this heading and they answer three different questions. One establishes what a business is worth. One tests whether what you have been told about a business is accurate. One looks at where a business could lose money before it does. They are commissioned at different moments, by different people, and mixing them up is the most common reason an engagement disappoints.
Telling them apart
Which of the three you need
The names are close enough to be confusing and the work is not similar at all. This is the distinction in one view.
Assurance and audit are not the same thing
A statutory audit is an obligation. It has a defined scope set by law, it covers a financial year, and it ends in an opinion on whether the financial statements give a true and fair view. You do not choose what it looks at.
An assurance engagement is commissioned. You decide what is being examined and why, and the scope is written before the work starts. It can look at one transaction, one control, or one number, and it can be done at any point in the year rather than after it.
The practical consequence is that an audit will not answer a question you have about a specific deal, and an assurance engagement will not satisfy a filing requirement. Businesses that need both commission both, and the work does not overlap as much as people expect.
How it runs
What an engagement involves
Every engagement here runs in the same four movements, whatever the subject.
The question is written down
Before anything is examined, the scope is agreed in writing: what is being looked at, what is deliberately not being looked at, and what the report will say. This is where most of the value is decided, and it is the part clients are most often not shown.
Records are collected
The list below is the usual starting point. Where records are incomplete that is established at the outset rather than discovered halfway through, because an incomplete set changes both the scope and the fee.
The work is done
Figures are traced back to their source, controls are tested against what actually happens rather than what the policy says, and anything that cannot be substantiated is listed as exactly that.
The report is written to be used
A report that only a specialist can read has failed. The findings are stated plainly, the limitations are stated equally plainly, and what could not be verified is named rather than left as an absence.
What you will be asked for
Assembling these before the engagement starts shortens it more than anything else you can do.
Financial statements for the periods under review
Trial balances
Bank statements
Contracts relevant to the transaction or the question
Trade licence and ownership documents
Prior audit reports, where any exist
This is the list the firm publishes for assurance engagements. What a specific engagement needs is confirmed once the scope is agreed, and a short list at the start is normal.
Worth asking before you commission one
Of us or of anyone else. The answers tell you a great deal about what you are buying.
- 01
What exactly will this report say, and what will it deliberately not say?
- 02
Who is the report addressed to, and can a bank or a counterparty rely on it?
- 03
What happens to the scope and the fee if the records turn out to be incomplete?
- 04
Which of the three engagements do I actually need for the decision I am making?
- 05
Who will do the work, and who will sign it?
Asked most often
Is business valuation assurance a legal requirement in the UAE?
There is no standalone law forcing every UAE company to obtain a formal valuation assurance report. It becomes necessary in practice for fundraising, mergers, share transfers, liquidation, disputes between partners, or when a bank or investor asks for independently reviewed figures. Whether you need one depends on the transaction you are entering into and who is asking for the number.
Government Agencies
We work closely with all Government Agencies
Company formation, licensing, visas, customs codes and tax registration all pass through these authorities. Start a company setup.
Answers
More on assurance
The 5 questions asked next, answered plainly.
01How much does an assurance or due diligence review cost in Dubai?
Assurance and due diligence work is quoted after reviewing the scope, the entity structure and the volume of records involved, since a share sale review differs greatly from a routine risk assessment. We provide a fixed proposal once we understand what is being reviewed and why. Bookkeeping support that feeds into these reviews starts at AED 599 per month for up to 50 transactions.
02When would a business actually need due diligence assurance?
Due diligence assurance is typically commissioned before buying or selling a business, bringing in a partner or investor, or restructuring group companies. It verifies that the financial position, tax compliance and liabilities presented by a party are accurate before money changes hands. It is not a mandatory annual filing, it is triggered by a specific transaction.
03What is risk assurance and who needs it?
Risk assurance is an independent review of the financial, operational and compliance controls a business has in place, aimed at spotting weaknesses before they cause loss or regulatory trouble. It suits companies expanding, tightening internal controls, or preparing for audit or investor scrutiny. Any UAE entity can commission it, though it is most valuable where controls have not been reviewed recently.
04What documents are needed for an assurance engagement?
You will generally need financial statements, trial balances, bank statements, contracts relevant to the transaction, trade licence and ownership documents, and prior audit or tax filings. The exact list depends on whether the engagement is a valuation, a due diligence review or a risk assessment. We confirm the precise document list once the scope is agreed.
05How long does an assurance engagement take?
Timelines vary with the size of the business and the quality of the records provided, ranging from a few days for a focused risk review to several weeks for a full valuation or due diligence exercise ahead of a transaction. Vigor Accounting and Taxation sets out an expected timeline once the scope and available documentation have been reviewed.
Not here? Ask Vigor, and a specialist picks it up from there.
