Internal Audit
Investigation Audit
Since 20178 Since 2017
- Scoped to one question
- Discreet
- Findings in writing
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In one line
A targeted enquiry into something specific that has already gone wrong.
Overview
What is an Investigation Audit?
A general investigation audit is performed, in the case that we expect some irregular behavior from an entity such as money laundering or terrorism financing. Such a detailed audit by inspecting every account, financial statement and all activities of the business to find out various frauds. Extensive audit programs trace the money flow and other assets to substantiate the evidence. After the identification of a suspect and enough audit evidence is gathered then this case can be brought to court.
- 5,000+
- Clients served
- 75+
- Professionals in Business Bay
- 8
- years, since 2017
This one is usually asked for after
01
A concern has been raised and it needs answering properly rather than informally
02
A pattern in the numbers does not match what the business says it does
03
An allegation exists and the company needs the facts before it responds
Scope
In scope
Anti Fraud Services Contain
Our Objective
Corporate Irregularities
Whistleblower Allegations
Asset Misappropriation
Regulatory Violations
Business relationships carried on incorrectly
Financial Reporting Fraud
Suspicious Transactions
Bribery and Corruption
Identification of Suspects
Evaluation and Assessment of Damage
Quantification of Damage
Identification of the financial activity in question
Prevention of damage
Tracing of financial assets.
Why it matters
When investigation audit is the right call
A targeted enquiry into something specific that has already gone wrong.
A general investigation audit is performed, in the case that we expect some irregular behavior from an entity such as money laundering or terrorism financing. Such a detailed audit by inspecting every account, financial statement and all activities of the business to find out various frauds. Extensive audit programs trace the money flow and other assets to substantiate the evidence. After the identification of a suspect and enough audit evidence is gathered then this case can be brought to court.
- A concern has been raised and it needs answering properly rather than informally
- A pattern in the numbers does not match what the business says it does
- An allegation exists and the company needs the facts before it responds
How it runs
From terms of reference to follow-up
Phase 01
Scope and terms of reference
What is being examined, what it is being measured against, and who receives the findings. Agreed in writing before anything begins.
Phase 02
Walkthrough and testing
The process as documented, the process as performed, and the gap between them. Sampled where volume makes full testing pointless.
Phase 03
Findings and management response
Every finding rated and put to management before it is written up, so the report contains the answer as well as the problem.
Phase 04
Report and follow-up
A report the board can act on, with owners and dates against each action, and a follow-up to confirm what actually changed.
Phase 4 of 4
Report and follow-up
Risk, mapped
Where your exposure actually sits
Where do your risks actually sit?
The five by five an audit committee reads. Likelihood across, impact up. Tap the squares that describe your business and the panel says how each one would be handled.
Likelihood
- One person can raise and approve a payment
- Bank reconciliations are behind
- Supplier bank details changed by email
- Access to the accounting system is never reviewed
- Stock counted once a year
- No documented approval limits
Common findings, for orientation. Yours will differ.
Highest band selected
0Nothing selected
Tap the squares where your own risks sit. Nothing is stored and nothing is sent.
The grid is the standard one an audit committee already uses. Where a risk sits on it is your judgement, not a rating of your business, and nothing you tap leaves the page.
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Answers
Questions asked before an internal audit starts
The 6 asked most often about Investigation Audit.
01Is an investigation audit a legal requirement in the UAE?
No, an investigation audit is not a mandatory statutory filing like a standard annual audit. It is usually commissioned by shareholders, a board, a regulator, or a court when fraud, mismanagement, or a dispute is suspected. Whether one is needed for you depends on the trigger event, such as a partner dispute, missing funds, or a whistleblower report, rather than a fixed legal deadline.
02How much does an investigation audit cost in Dubai?
There is no fixed fee, because the scope depends on the suspected issue, the volume of records involved, and how far back the review must go. A fraud investigation covering several years of transactions and multiple bank accounts costs more than a narrow review of one contract. We quote after a scoping discussion, once the objective and likely evidence trail are clear.
03What normally triggers the need for an investigation audit?
Common triggers include suspected fraud or theft, unexplained cash shortfalls, a shareholder or partner dispute, irregular supplier or payroll transactions, or a regulator or lender requesting confirmation before taking action. An investigation audit is targeted at answering a specific question, unlike a general annual audit, so the scope is set by the concern that raised it.
04How long does an investigation audit take to complete?
There is no fixed UAE deadline for this type of engagement, so timing depends on the volume of transactions, the number of years under review, and how accessible the underlying records and staff are. A focused review of one account can take a few days, while a multi year fraud investigation across several entities takes considerably longer.
05What documents does the auditor need for an investigation?
Typically bank statements, general ledgers, invoices, contracts, payroll records, correspondence, and any internal reports already raised about the concern. Access to relevant staff for interviews is often needed as well. The exact list is set once the specific allegation or question is defined, since an investigation audit follows the evidence rather than a standard checklist.
06What happens after fraud or wrongdoing is confirmed?
The findings are set out in a factual report to whoever commissioned the audit, typically the board or shareholders, covering what occurred, the amounts involved, and the control weaknesses that allowed it. That report can then support internal disciplinary action, a civil claim, or a police or regulatory referral, depending on what the client decides to pursue.
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