Audit & Assurance

Audit & Assurance

Statutory Audit: 

Our statutory audit services are designed to provide you with a meticulous examination of your financial records to ensure they comply with legal and regulatory requirements. We go beyond mere compliance, using our expertise to uncover insights that can help you make informed decisions and enhance your financial standing.

What we do for Statutory Audit:
Transforming the Way You Experience Audit Excellence at CAPEX AUDITING

In the dynamic landscape of the global economy, credibility and reputation are the linchpins of success. They're not just assets; they're essential foundations. That's why assurance services play a pivotal role in bestowing credibility upon financial reports and business intelligence. They instill confidence in the users and stakeholders who rely on this invaluable information.

At CAPEX, we don't just offer global assurance services; we deliver a personalized touch that sets us apart. We understand that experienced audit and assurance professionals who comprehend the intricacies of your business can be game-changers. By partnering with us, organizations unlock a treasure trove of benefits - from enhancing reputation and gaining unparalleled insights to optimizing services and minimizing costs.

Explore our comprehensive range of audit services tailored to meet the diverse needs of businesses and organizations:

    • Financial Statement Audit: Unearthing the true financial picture with precision and insight.
    • Non-Financial Information: Going beyond the numbers to extract meaningful, actionable intelligence.
    • Controls Reporting: Fortifying your business with robust internal controls and reporting.
    • Regulatory Compliance: Navigating the complex terrain of regulations with finesse and expertise.
    • Reporting to Providers of Finance: Empowering you with clear, concise reports that resonate with financiers.
    • Integrated and Sustainability Reporting: Embracing sustainability as a cornerstone of your business narrative.
    • IFRS Implementation and Application: Guiding you through the nuances of international financial reporting standards.
    • Statutory Audit: Ensuring compliance and transparency in every facet of your operations.
Experience audit excellence like never before. Choose for a transformative journey in assurance services that transcends the conventional.

Modern Information Technology, Precise Auditing Support, and Unparalleled Expertise

CAPEX leverages state-of-the-art information technology to bolster and enhance our auditing approach, providing invaluable assistance to firms across the UAE. Our commitment to excellence is exemplified in every phase of the audit process, spanning planning, execution, and reporting.

We harness the power of cutting-edge audit and documentation software, equipped with a comprehensive array of tools that facilitate analysis, documentation, management, communication, interviews, data retrieval, verification, and presentation of the audit process. With specialization in pan UAE, CAPEX is your premier auditing partner in the region.

When conducting a audit, our meticulous verification encompasses critical elements such as:
    • Accounting records
    • Bank balances
    • Financial transactions
    • Non-Financial Information 

The advantages of opting for a statutory audit with CAPEX are manifold:
    • Elevating your company's reputation
    • Enhancing your firm's credibility through a robust statutory audit report
    • Enabling potential customers to evaluate your company's financial soundness and trustworthiness before engaging in business endeavors
    • Listed with most of the banks in UAE
    • Use International Financial Reporting guidelines
    • Listed with all majors Free Zones in UAE

The statutory audit procedure, as executed by CAPEX, encompasses a comprehensive understanding of the organizational operating environment and controls. Our diligent auditors delve into the intricacies of internal mechanisms and scrutinize account details with precision, ensuring the utmost compliance and financial integrity.

At CAPEX, we don't just conduct audits; we elevate them to a realm of precision and trustworthiness that empowers your business to flourish.

Three-Tier Verification Process in Audit & Assurance:

At CAPEX Auditing, we uphold the highest standards of professionalism and accuracy in our Audit & Assurance services. Our three-tier verification process ensures that every engagement is conducted meticulously, adhering to both GAAP and IFRS standards.


1. Allocation and Field Work:
Responsibility: Assigned to a consultant for the initial stages of fieldwork.
Process: The consultant gathers relevant financial data, conducts preliminary assessments, and performs initial testing based on the engagement's specific requirements.

2. Senior Audit Manager Monitoring:
Responsibility: Oversight provided by a Senior Audit Manager.
Process: The Senior Audit Manager reviews the consultant's work, conducts in-depth analysis, and provides guidance on complex matters. They ensure compliance with GAAP, IFRS, and internal audit procedures.

3. Risk Assessment:
Responsibility: Joint effort of the consultant and Senior Audit Manager.
Process: The team conducts a comprehensive risk assessment, identifying potential financial misstatements, compliance issues, and operational inefficiencies. This assessment forms the basis for the audit strategy.


4. Evaluation and Concerns Clarification:
Responsibility: Collaborative effort involving the consultant, Senior Audit Manager, and Risk Assessment team.
Process: Any identified concerns or discrepancies are thoroughly evaluated. The team engages in discussions to address and clarify these issues, ensuring accurate and reliable financial reporting.


5. Audit Engagement Partner Review:
Responsibility: Oversight provided by the Audit Engagement Partner.
Process: The Audit Engagement Partner conducts a comprehensive review of the entire engagement. They assess the audit strategy, risk assessment, and the completeness of work performed in adherence to GAAP, IFRS, and internal standards.


6. Sign Off Draft for Issuance:
Responsibility: The final step involving the Audit Engagement Partner.
Process: The Audit Engagement Partner reviews and approves the final audit report. Once satisfied with the accuracy and completeness of the work, they provide authorization to issue the final report to the client.


This three-tier verification process ensures that our Audit & Assurance services are conducted with utmost precision, following internationally recognized GAAP and IFRS standards. At CAPEX Auditing, we take pride in our commitment to excellence and strive to provide our clients with the highest quality of service in every engagement.

Internal Audit: Internal audits are not just a regulatory obligation but a valuable tool for improving your business's internal processes and controls. We conduct thorough internal audits to identify weaknesses, assess risks, and recommend practical solutions for strengthening your organization's operational efficiency.

Unlocking Excellence in Internal Auditing with CAPEX
CAPEX stands as a distinguished auditing and consulting firm in the vibrant landscape of Dubai, offering a comprehensive suite of services encompassing audit, accounting, VAT audit & consulting, corporate tax audit & consulting  and management accounting. Our commitment to excellence extends to delivering the finest audit services in Dubai and its surrounding areas.

But what exactly is CAPEX Internal Audit?

Our team of internal auditors collaborates closely with the management of our client companies, methodically organizing and assessing the information at hand. From this collaboration, we produce insightful reviews, often referred to as audits, with the primary objective of evaluating how effectively risks are managed within the organization. This includes assessing the presence of robust processes and adherence to agreed-upon procedures.

Yet, CAPEX's Internal Audit does not stop at risk assessment. It goes beyond, often shedding light on opportunities to enhance efficiency and foster innovation within the organization. Our internal audits are thoughtfully structured to be an integral part of an ongoing audit and advisory program, tailored to meet the strategic needs of each unique organization.

Our internal auditors do not confine their scrutiny to one specific area; they operate across all facets of an organization. Beyond financial control and IT systems, they delve into the tangible aspects of the business, such as supply chain and IT systems. Moreover, they explore the more abstract, yet equally crucial facets of organizational culture and ethics. In essence, any element that influences the effective performance of an organization is included in the purview of our internal audit.

The results of our internal audit endeavors are relayed to the CEO and the board of directors, often through the conduit of the audit committee. These reports provide an invaluable independent perspective, guiding the organization towards excellence.

Understanding the Difference between Internal and Statutory Audit:

It is crucial to grasp the distinctions between internal and statutory audits. Statutory audits, often referred to as external audits, are primarily focused on validating the accuracy of annual reports and financial statements. In contrast, internal audits offer a more holistic overview, considering all elements that could be pivotal to the organization's overall success.
At CAPEX, we believe that Internal Audit is not just about compliance; it is the compass that guides an organization towards sustainable success.

Special Audit: In times of special circumstances or complex financial situations, our special audit services come to the forefront. Whether it's a forensic audit, due diligence, or any unique financial challenge, we have the experience and expertise to conduct in-depth investigations and deliver insightful reports to help you navigate these challenges.

Specialized Audits in Dubai: A Precise Evaluation by CAPEX:

A Special Audit in Dubai represents a meticulous examination of a company's financial statements and records, meticulously conducted by an independent auditor affiliated with CAPEX. The requirement for a special audit emerges under specific circumstances, often necessitated by the need to uncover financial irregularities or validate inventory.
In instances where financial fraud is suspected or inventory discrepancies are a concern, companies turn to special audits as a powerful investigative tool. The outcome of our special audit endeavors culminates in the issuance of a comprehensive audit report. This report serves as the seal of approval, confirming the accurate presentation of financial statements and the full disclosure of all pertinent financial information.

With CAPEX, you have a trusted ally in the realm of specialized audits, ensuring that financial transparency and integrity are upheld to the highest standards.

At CAPEX, we take pride in offering audit services that transcend the ordinary. Our seasoned professionals, cutting-edge tools, and commitment to excellence ensure that you receive not just a regulatory tick-box but a strategic advantage. We believe that auditing is not just about compliance; it's about empowering your business to thrive.