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.

1. Audit Assistance
“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.
Audit Assistance
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

2. ■ 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:
1. Real estate or developer companies
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.
2. 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.

3. 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

4. ■ 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
Get Free Consultation
Audit Assistance Dubai UAE | IFRS Financial Statements UAE (hlbhamt.com)
Contact Us
HLB HAMT
Level 18, 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