Assurance

There is no standalone law forcing every UAE company to obtain a formal valuation assurance report. It becomes necessary in practice for fundraising, mergers, share transfers, liquidation, disputes between partners, or when a bank or investor asks for independently reviewed figures. Whether you need one depends on the transaction you are entering into and who is asking for the number.

Assurance and due diligence work is quoted after reviewing the scope, the entity structure and the volume of records involved, since a share sale review differs greatly from a routine risk assessment. We provide a fixed proposal once we understand what is being reviewed and why. Bookkeeping support that feeds into these reviews starts at AED 599 per month for up to 50 transactions.

Due diligence assurance is typically commissioned before buying or selling a business, bringing in a partner or investor, or restructuring group companies. It verifies that the financial position, tax compliance and liabilities presented by a party are accurate before money changes hands. It is not a mandatory annual filing, it is triggered by a specific transaction.

Risk assurance is an independent review of the financial, operational and compliance controls a business has in place, aimed at spotting weaknesses before they cause loss or regulatory trouble. It suits companies expanding, tightening internal controls, or preparing for audit or investor scrutiny. Any UAE entity can commission it, though it is most valuable where controls have not been reviewed recently.

You will generally need financial statements, trial balances, bank statements, contracts relevant to the transaction, trade licence and ownership documents, and prior audit or tax filings. The exact list depends on whether the engagement is a valuation, a due diligence review or a risk assessment. We confirm the precise document list once the scope is agreed.

Timelines vary with the size of the business and the quality of the records provided, ranging from a few days for a focused risk review to several weeks for a full valuation or due diligence exercise ahead of a transaction. Vigor Accounting and Taxation sets out an expected timeline once the scope and available documentation have been reviewed.