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A clear audit file helps connect reported figures to invoices, statements and supporting records.
Reviewing records before an audit can reveal gaps and errors while they are still easy to fix.
A request tracker helps your team answer auditor questions quickly and consistently.
Repeatable preparation improves the quality of your reports and reduces last minute pressure.
Organize ledgers, financial statements, schedules and supporting documents in one clear file.
Review bank, receivable, payable, fixed asset and other key balances for accuracy.
Help prepare reporting schedules and resolve inconsistencies before review.
Organize VAT returns, tax invoices, reconciliations and supporting records.
Connect reported tax figures with financial records and working papers.
Identify process gaps and practical improvements in how records are approved.
| Area | What to Review | Practical Point |
|---|---|---|
| Statutory Audit Preparation | Organize financial records and supporting documents for the appointed independent auditor. | Prepare supporting schedules and track auditor questions and outstanding requests. |
| VAT Review | Gather VAT returns, tax invoices and relevant account reconciliations. | Identify missing documents, inconsistencies and differences requiring clarification. |
| Corporate Tax Review | Gather financial accounts, supporting records and applicable tax calculations. | Reconcile reported tax figures with financial data and document outstanding issues. |
| Internal Review | Assess selected business processes, accounting procedures and internal controls. | Document identified risks and recommend practical improvement actions. |
| Investor or Bank Review | Prepare relevant financial schedules, supporting records and explanations. | Track information requests and organize responses for the relevant reviewer. |
Note: Requirements can vary by company structure, business activity, relevant authority, banking arrangements and tax position. Final decisions and approvals remain with the relevant authority or institution. NEXORA reviews the available information and helps clarify the applicable next steps before work begins.
Prepare financial information for lender, statutory or internal review needs.
Check the authority’s reporting requirements and organize records to match.
Create a practical audit file without waiting for year end pressure.
Organize sales, purchases, inventory and supplier evidence for review.
Identify unusual balances and accounts needing clarification.
Match bank statements to recorded cash balances.
Support customer and supplier balances with ageing detail.
Organize additions, disposals and depreciation records.
Organize the records and schedules needed before the audit starts.
Address differences and document how they were resolved.
Connect audit readiness with VAT and corporate tax records.
Keep outstanding items visible and assigned.
Start as early as practical, ideally with regular reconciliations during the year rather than waiting for the audit request.
Can’t find the answer to your question? Send us an email and we’ll get back to you as soon as possible!
+971 58 257 8676
info@nexorabizz.com
Office 15, National Insurance Building, Deira, Dubai
NEXORA Business Consultancy helps entrepreneurs and companies worldwide set up and grow their businesses in Dubai with expert, end-to-end support.
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info@nexorabizz.com
Deira, Dubai National Insurance Building - 1st Floor, Office No 15 - Near Deira City Center Metro - Port Saeed - Dubai