At Risians Accounting & Tax Consultancy, we provide a full range of accounting review services in Dubai, which ascertain accuracy, compliance, and strategic insights. We apply International Financial Reporting Standards (IFRS) in the review activities to help the business maintain transparent and reliable financial records. Our professionals help in ensuring that the financial statements are ready for audit and compliant with UAE regulations and other global accounting standards.
Our accounting review service helps startups, SMEs, and large corporate houses alike with implementable insights to empower business owners and finance teams in making informed decisions for sustainable growth.
International Financial Reporting Standards (IFRS) represent an internationally accepted framework for financial reporting with a view to ensuring transparency, consistency, and comparability among various organizations. Unlike local accounting practices or Generally Accepted Accounting Principles (GAAP), IFRS allows:
For companies in Dubai, an accounting review according to IFRS is a true reflection of adherence to UAE VAT and corporate tax regulations and adds significant credibility to their global business functions.
The implementation of IFRS in accounting reviews offers significant advantages for businesses in the UAE and globally, including:
Adhering to these global benchmarks ensures that your business remains competitive and compliant within the UAE’s sophisticated regulatory environment.
The IFRS 18: Presentation and Disclosure in Financial Statements, set to replace IAS 1 on January 1, 2027, introduces significant changes to how companies present and disclose financial data. Key improvements include:
The consultants at Risians Accounting & Tax Consultancy assist businesses in early preparations for IFRS 18, ensuring a smooth transition and audit-ready financial statements.
An accounting review process structured this way guarantees accuracy, compliance, and actionable insights:
Several strategic advantages emerge from partnering with Risians for IFRS-compliant accounting reviews:
Engaging Risians Accounting & Tax Consultancy, among the top players in accountancy in Dubai, ensures that your business finds a reliable partner in obtaining accounting review services that are compliant, accurate, and insightful. Our experts marry a deep knowledge of UAE financial regulations with IFRS Standards expertise to ensure transparency and accuracy in your financial statements, making them ready for audit.
With Risians Accounting & Tax Consultancy as your partner, your accounting review services in Dubai go beyond simple compliance—they provide the financial clarity needed for smarter planning and sustainable expansion.
Diagnostic insights into accounting health, audit readiness, IFRS-compliant reporting, and the strategic preparation required for corporate tax and bank facility applications.
No — they serve different purposes and one cannot substitute for the other. A statutory audit is a formal regulated engagement that produces a signed auditor's opinion — a legal document accepted by DED, free zones, banks, and the FTA as independent assurance on your financial statements. An accounting review is a diagnostic service — it identifies errors, inconsistencies, and areas of non-compliance in your existing records, and recommends corrections. It does not produce an auditor's opinion and cannot satisfy statutory or regulatory requirements that demand an audit report. The relationship is sequential: an accounting review prepares your records to the standard needed to undergo a statutory audit without complications. Risians typically recommends an accounting review for businesses commissioning their first audit with us, or for businesses where prior audits have raised recurring issues.
Yes, in two specific ways. First, a review ensures your financial statements are IFRS-compliant before the bank's credit team reviews them — a balance sheet with unreconciled control accounts, missing accruals, or incorrectly stated liabilities is a red flag that delays or blocks facility approval. Second, a review identifies any inconsistencies between your management accounts and your statutory accounts — banks compare both, and unexplained differences are viewed as a transparency concern. Risians' accounting review produces a written report that you can use internally to correct issues before the bank application is submitted. The review also positions Risians to provide the Statutory Audit the bank will likely require as part of the facility due diligence.
Inconsistent accounting policies across periods are a common finding in businesses that have had multiple bookkeepers or accountants in quick succession. The review identifies: where revenue recognition policies have changed without disclosure, where depreciation methods differ between years, where accruals that should be consistent (such as end-of-service provisions) have been applied differently, and where chart of accounts reclassifications have created prior-period comparability issues. The written report documents every inconsistency found, explains the correct treatment under IFRS, and provides a recommended correction schedule. For businesses approaching an audit, these findings are critical — an auditor will identify the same inconsistencies and may issue a qualified opinion if they are not addressed before the audit begins.
Three months is tight but workable. An accounting review in this timeframe focuses specifically on the Corporate Tax-relevant items: the accounting profit-to-taxable-income reconciliation items (non-deductible expenses, exempt income, related-party transactions), the completeness of revenue recognition, the accuracy of year-end accruals and provisions, and the IFRS compliance of the financial statements that form the starting point for the CT calculation. Risians produces the review report within two to three weeks of starting the engagement, which leaves time to implement corrections and prepare the CT return accurately. If your return deadline is closer than this — contact us immediately, we will assess whether the timeline is achievable and prioritise the review accordingly.
Findings from an accounting review are presented with three-tiered prioritisation: errors that create immediate FTA liability (requiring voluntary disclosures on current VAT or CT filings), errors that affect statutory financial statement accuracy (requiring prior period adjustments or corrections before the next audit), and areas of best practice improvement that do not create immediate compliance exposure but should be addressed in the next 12 months. For items requiring voluntary disclosures, Risians' Tax Compliance team manages the FTA submission process. For corrections to financial statements, Risians implements the adjusting entries and produces the corrected statements. You are not left with a list of problems and no path to resolution.
Yes — this is one of the most valuable outputs of a CT-focused accounting review for free zone clients. QFZP eligibility depends partly on how income is classified in your accounts (qualifying vs. non-qualifying) and partly on operational factors (UAE substance). A review examines your revenue streams and maps them against the FTA's qualifying income categories, calculates whether non-qualifying revenue exceeds the de minimis threshold, and assesses the substance evidence available in your accounting records (payroll records, lease agreements, operational cost evidence). If QFZP eligibility is borderline or uncertain, the review produces a documented position that forms the basis of the QFZP election on the CT return. See our Corporate Tax for Free Zone Companies page for the full QFZP framework.
Annually as a minimum, timed to coincide with the preparation of year-end financial statements. For businesses undergoing significant change — new revenue streams, acquisitions, new related-party relationships, Corporate Tax first-year filing — more frequent reviews are warranted. The practical cadence Risians recommends: a full accounting review as part of the year-end close process, a lighter mid-year check (typically at the six-month point) for businesses with complex ongoing compliance profiles, and a targeted review any time a material change occurs in the business. For businesses using Risians for ongoing accounting, the review is integrated into the year-end process rather than a separate engagement — the ongoing accounting quality means fewer findings and faster year-end close.
Yes — a written report is the central deliverable. It contains: a summary of the scope and methodology, findings categorised by priority (immediate FTA exposure, financial statement accuracy issues, best practice improvements), the specific accounting entries needed to correct each finding, the estimated tax impact of each finding where applicable, and a recommended implementation timeline. The report is written for business owners and finance managers — not accounting jargon — so that the findings and required actions are clearly understood without needing an accounting qualification to interpret them. Risians presents the report in a working session with your management team and answers questions before the correction work begins.
Risians Accounting & Tax Consultancy is an FTA-certified accounting, auditing, and tax advisory firm. Based in Downtown Dubai, we provide comprehensive financial solutions to businesses throughout the UAE.
