Are you facing difficulty in preparing IFRS financials? Our auditing team at HLB enables a smooth and hassle-free audit process.

1. Audit Assistance in UAE
“The financial statements are the responsibility of management,” always appear prominently in
most of the auditor’s communications, including the audit report and eventually the preparation for
the statutory audit will be always challenging for the management.
The management and accounting staff often do not have the time or expertise to prepare
accurate financial statements and audit file or answer all the questions that arise during the audit
by statutory auditors. Many times, this results in inefficient audit, and a less than satisfying
experience for everyone involved in this process.
HLB HAMT has an experienced team of professionals, who have exposure in different industry
segments, deep knowledge in IFRS Framework and familiarity with international standards on
auditing and quality assurance.
Hassle-free audit process
Our accounting team at HLB enables a smooth and hassle-free audit process. Our services
include the following:
● Year-end closing process
● Preparation of lead schedules
● Analyze or reconcile accounts
● Initiate confirmations for mailing
● Evaluate or select accounting policies or procedures
● Prepare financial statements or footnote disclosures
● Evaluate and determine estimates included in financial statements
● Preparation of calculation sheets and supporting schedules
● Establish account grouping or classifications in the financial statements
● Follow up with PBC list provided by the external auditor
● Answering queries of external auditor related to the above
We can also assist you on industry-specific issues:
● Real estate or developer companies

2. We will help you to recognize revenue in accordance with IFRS 15 for all the development
projects, which includes the retrospective application, calculation sheets, cost allocation, transfer
to inventory and development in progress. This will be performed in consideration with RERA
guidelines.
● Construction and contracting companies
Our experienced industry-specific staff can help you to calculate and prepare the revenue
recognition and contract work in progress tables in line with IAS -11 / IFRS-15 in order to have a
proper closing of accounts. Also, we can assist with the fair valuation of financial assets and
impairment on investments.
● IFRS Financial Statements
Are you facing difficulty in preparing IFRS financials because of;
➔ Disruption of regular activities of accounting staff
➔ Lack of quality staff due to cost or availability
➔ Inconsistencies on the application of accounting policies
➔ Awareness or understanding issues on latest standards or its amendments and
industry best practices
➔ Financial agencies or suppliers asking in-house financial statements
HLB HAMT’s highly skilled professionals can help you tackle all these problems and prepare
general purpose financial statements in IFRS framework in a timely, accurate and understandable
manner with due professional care.
This will help the management reduce the opportunity to gain synergies and efficiencies and
resulting reduced costs, so the management can concentrate on making important business
decisions and accounting staff can concentrate on their daily activities.
Our methodology
● Understand the entity and its business segments
● Develop the financial statements template according to the business and according to
the revised or new IFRS and related interpretations
● Prepare information request list and circulating among staff including different
departments
● Assist or train the staff to respond the information request lists and reconciliations
● Work with the proven technologies

3. GET FREE CONSULTATION
Audit Assistance DubaiUAE | IFRS FinancialStatements UAE
CONTACT US
HLB HAMT
Level18, City Tower-2,
Sheikh Zayed Road
PO Box 32665
Dubai– United Arab Emirates.Tel: +971 4 327 7775
E-mail: dubai@hlbhamt.com
www.hlbhamt.com/