MENU
Language select

Audit and Assurance

We, Sun Reanda UAE are one of the top 25 audit and assurance networks in the world providing external audit, internal audit and risk management services to all types of businesses irrespective of their vintage, volume and sector.

Globalization has become a new phenomenon and a buzzword of the last two decades. The significant increase in the interdependence of world economy, exchange of knowledge, trade and finances around the world, driven by technological innovation has thrust the term into the limelight.

In today’s continued growing globalization, it is becoming more imperative to have in place suitable financial control procedures, processes and systems. This has resulted in engagement of financial advisors, competent auditors and business consultants who understand your business requirements and contributes in the success of your business. more…

The efficiency and effectiveness of our audit work are based upon a practical, logical, flexible, pragmatic and realistic approach, clear, open and timely communications on the audit requirements and dialogue on any issues that arise as they are identified.

Our team of auditors have a passion for delivering quality and timely audit and assurance services to businesses and we have a hands-on approach, placing our clients first every time. Our approach is to identify the clients’ risks and provide solutions that are customized to a specific business environment and to ensure quality and value auditing services. We strive to deliver efficient and cost-effective auditing services and attempt to add significant value to your business, through our audit techniques and processes.

Our Audit Process
  • Audit Planning
  • Fieldwork
  • Implementation
  • Amendments
  • Finalization
  • Recommendations
  • External Audit

    As part of one of our principal services, our auditors perform statutory audit for mainland Limited Liability Companies, Offshore Companies and Free Zone Companies. We adhere to standards like UK GAAP, IFRS, International Accounting Standards and all our audits are performed in accordance with the relevant local laws and regulatory authority requirements and International Standards on Auditing (ISAs). Our statutory audit process concludes by providing an audit opinion, complete assessment of accounts, compliance with statutory and local regulatory requirements, advice and recommendations.

    We are registered auditors in all the major free zones in UAE.
  • Internal Audit

    Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. Internal audit provides opportunities for companies to improve based on independent analysis and advice. Internal audit helps the Board and senior management to monitor the organization. Internal audit is considered like a health check-up carried out by the organization to analyze the level of growth and progress that the business is heading towards. It is also known as an operational audit that provides the organization an assurance about the effectiveness of the processes put in place like internal controls, risk management and governance in achieving the business’s objectives and goals.

    To preserve the integrity and independence of audits, we maintain a delicate balance between offering advice and providing opinions about a process, system, account balance or other subject matter. The size and complexity of internal audit functions are as diverse as the range of operating environments, risk appetites, and business and audit objectives that a company can have. The scope of audit can also vary from project to project within a company, depending on an auditor’s focus.

    The modern concept of the internal audits gravitates around the notion of business risks, around their identification, assessment and monitoring. Due to this reason it is also referred to the system of internal audit and risk management as a unit system where the risk is the common thread. Risk based internal audit is concerned with providing assurance that management has actions and controls in place to meet organizational objectives, while addressing uncertainty and staying within boundaries.

    The risk-based internal audit framework includes seven related components: Understand, Identify, Assess, Plan, Perform, Report, and Monitor. Our focus remains on approaching the Understand, Identify and Assess components of the framework in an innovative way, improving the overall value internal audit can provide to the organization, instead of testing the same internal controls over and over again.

    Although different terms may be used, the risk management process is essentially the same regardless of which framework is used. This can be summarized in five components which should be present in any risk management framework or process:

    • Identify - the threats to meeting objectives and map to specific defined risks
    • Analyze - the level of inherent risk for each risk
    • Evaluate - the current actions and controls in place to reduce the risks to an acceptable level (should approximate risk appetite, but at least be lower than risk tolerance)
    • Mitigate - determine other actions and controls which may be necessary to reduce risk to an acceptable level if the current actions and controls are not effective
    • Monitor - the effectiveness of the actions and controls.

    Our qualified team work together with business owners, directors and managers to assess the implementation and effective maintenance of systems of governance, risk management and internal controls.

  • Compliance Audit

    A compliance audit is a systematic, independent and documented verification process of objectively obtaining and evaluating audit evidence to determine whether specified criteria are met. It is different from an external audit since the auditor is not forming an opinion on the financial report but on the client’s compliance with specified criteria. The objective of a compliance engagement is to enable the auditor to express a conclusion on whether an entity has complied in all material respects, with requirements as measured by the suitable criteria.

    The responsibility for an entity’s compliance with requirements as measured by the suitable criteria rests with the responsible party. A compliance engagement performed by an auditor does not relieve the responsible party of its obligations to ensure compliance with requirements as measured by the suitable criteria.

    At Sun Reanda UAE, our auditors work closely with you as a business to ensure that as an organization, your business adheres to the terms and conditions of a contract or meet with the certain regulatory requirements for industry related certifications like ISO. It ensures that the business has complied in all material respects, with rules, regulations and requirements as measured by the concerned appropriate criteria or governing rules of private, government or semi government bodies.

    Compliance audit process:
    • Understanding of businesses and compliance environment
    • Understanding requirements and appropriate criteria
    • Understanding internal compliance environment
    • Assessing areas and risks of non-compliance
    • Developing and evaluating procedures and audit approach to respond to risk
    • Performing necessary audit procedures
    • Evaluating evidence
    • Discussion with the management
    • Preparing and issuing relevant reports.
  • Stock Audit

    At Sun Reanda UAE, we work closely with businesses to ensure the physical verification of their inventories. Stocks and physical assets such as raw materials, finished goods, high value stores and spares are important business assets and need repeated watch. In today’s era a large number of businesses are engaging operations and trade activities across borders through multiple locations, some even with varied channel partners, ensuring this watch is a challenge. We can also take stock audits for banks and other financial institutions which have extended credit to businesses against the hypothecation of physical goods and business assets.

    Our stock audits include:
    • Recognition of inventory and work in process
    • Identification of work in process, including completion stage
    • Physical stock count
    • Comparison of physical and book stock
    • Watch on existence of numerical counts for stock
    • Random checking of inward and outward stock movement process
    • Checking and counting of sealed inventories
    • Audit of stocks lying at multiple locations
    • Documentation of stock taking process and stock
  • Special Purpose Audit

    In a fast-changing business environment, it is important to understand that the businesses may require to conduct special purpose audit due to different operational, structural and strategic reasons to achieve its business goals and expected growth. A special purpose audit refers to the auditing of areas such as real estate developers’ trust accounts, requirement due to listing of a company, merger & acquisition and demerger to name a few. It might also be needed for royalties, grants funding and a condition to a franchise, contract or licensing agreements and to support claims made towards incentives in various industries.

    Special purpose audit may be conducted in the following cases:
    • Royalty audit
    • Lawsuit against the company
    • In relation to merger & acquisition
    • Listing of a company
    • Profit projection audit
    • Special audit based on the management requirement
    • Turnover audits
    • Completion audits
  • Liquidation Audit

    A liquidation audit is an assurance that the information provided in the report is accurate and complete and how the assets have been realised and the obligations paid off. Whenever a company goes into liquidation it becomes very important that all the Company’s assets are properly accounted for and all the liabilities of the company have been identified along with the objections from the creditors. During the liquidation proceedings all the assets of a company are realised into cash and the creditors are paid back and any remainder amount is distributed to the owners.

    Whenever a company is closing or cancelling its licenses, most of the free zone authorities and Economic Development Departments are requiring Liquidation audit. A company cannot be closed unless the liquidation audit report is submitted to these authorities, it is a mandatory requirement. Free Zones in Dubai like Dubai Multi Commodities Centre (DMCC), Jebel Ali Free Zone Authority (JAFZA), Dubai Silicon Oasis (DSO) and Dubai Airport Free Zone Authority (DAFZA) all require liquidation audit from the registered auditors. Other free zones also have similar regulations related to Company liquidation and liquidation audit before any company is closed.

Online Privacy Policy

Sun Management Consultants, www.sundubai.net and its employees and directors (collectively "Sun Team") are committed to protecting the privacy of visitors of our website www.sundubai.net. By accessing, browsing or using the website, you acknowledge that you have read and understood the terms and conditions of our Online Privacy Policy and you agree to that. If you do not agree to these terms and conditions, please do not access, browse or use this website.

At our website, we collect both personal information and aggregate information that the visitor voluntarily provides either while on the website or in response to emails in relation to features provided on the website. We don’t require you to register or provide information to us to view our website or have access to its content. We may collect personal information otherwise with your consent or as permitted or required by law. 

We implement a variety of security measures to maintain the safety of your personal information when you enter, submit, or provide your personal information. We are committed to protecting our website visitor’s privacy. We do not sell, trade, or otherwise transfer to outside parties your personally identifiable information. This does not include trusted third parties who assist us in operating our website, conducting our business, or servicing you, so long as those parties agree to keep this information confidential. We may also release your information when we believe release is appropriate to comply with the law, enforce our website policies, or protect ours or others’ rights, property, or safety. However, non-personally identifiable visitor information may be provided to other parties for marketing, advertising, or other uses. We will not collect any personal information unless you provide it voluntarily.

You as a visitor of our website may see some advertisements on our website which are selected and delivered by third parties, such as ad networks, advertisers and advertising agencies. These third parties may collect information about you and your online activities, either on the website or on other websites, through cookies, web beacons, and other technologies to understand your interests and deliver advertisements that are tailored to your interests. Please note that we do not have any control and access to the information these third parties may collect from time to time. The information practices of this entire process of these third parties are not covered by this privacy policy.

Our website Policies and Terms & Conditions may be changed or updated occasionally without any notice to anyone to meet the requirements and standards. Therefore, the website visitors are encouraged to frequently visit these sections to be updated about the changes on the website. Modifications will be effective on the day they are posted. Our Online Privacy Policy applies only to information collected through our website and not to information collected offline.

Terms and Condition

  • 1. Welcome to our website. If you continue to browse and use this website, you are agreeing to comply with and be bound by the following terms and conditions of use, which together with our privacy policy govern our relationship with you in relation to this website. If you disagree with any part of these terms and conditions, please do not use our website.
  • 2. The term ‘Sun Management Consultants’ or ‘us’ or ‘we’ refers to the owner of the website whose registered office is located at office no. 1504 -1505, Burj Al Salam, Opposite World Trade Centre, Sheikh Zayed Road, Dubai – United Arab Emirates. The term ‘you’ or ‘visitor’ refers to the user or viewer of our website.
  • 3. Our country of domicile is United Arab Emirates and any dispute or claim arising out of or about this website shall be governed and construed in accordance with the laws of United Arab Emirates.
  • 4. When you agree to our terms and conditions to purchase our services and provide your Credit Card & Debit Card details, these details are directly and solely collected by E-Payment gateway service provider to securely process the order and are not accessible to us. The cardholder must retain a copy of transaction records and Merchant policies and rules as a proof of transaction.
  • 5. The content of the pages of this website is only for general information and use of the website visitors and should not be construed as advice and we do not take any responsibility of the actions taken by visitors based on the available information on our website. The content of the pages is subject to change any time without notice. Unauthorised use of this website may give rise to a claim for damages and/or be a criminal offence.
  • 6. From time to time, this website may also include links to other websites. These links are provided for your convenience to provide you further information which may be of your interest and use. These links do not signify that we endorse the website(s). We have no responsibility for the contents of the linked website(s).
  • 7. We will not trade with or provide any services to individuals and companies owned or controlled by, or acting for or on behalf of, OFAC targeted countries, individuals, groups and entities, such as terrorists and narcotics traffickers designated under the OFAC programs that are not country specific.
  • 8. The purchaser of services must ensure that the credit card owner is either the owner /manager or the partner of the company or he/she has the authorization from the owner of the credit card. Credit card verification may be required at the time of delivery of the service.
  • 9. If fraudulent credit card is used or the purchaser of service fails to submit the authorization from the owner of the credit card, the service will be immediately cancelled and reported to concerned authorities.
  • 10. The purchaser indemnifies us from and against any and all claims, damages, losses, liabilities, obligations, actions, causes of actions, judgments, suits, demands, penalties, charges, costs, expenses and disbursements of any kind or nature whatsoever and howsoever rising which we may suffer, sustain, incur or be liable for directly or indirectly, in consequence of / as a result of the transactions processed through E-Payment Gateway.

Product Pricing & Refund Policy

  • 1. The prices of our services are based on client’s requirements. Each client may have a unique requirement and the prices may vary accordingly, depending on the work scope, delivery time and nature of business. We accept payments online using Visa and Master Card credit/debit card in AED and USD.
  • 2. Our consultancy and advisory fees are non-refundable after 8 hours of the transaction. Please make sure that you contact us as soon as you have decided not to proceed with the services within 8 hours. To do so, please call us and also send us an email to info@sundubai.net with a copy to avinash@sundubai.net as soon as possible to process the refund request.
  • 3. Our customer service representative will reply to you on your request within 3 working days and if the refund is authorized, you will be asked to fill a form to process your request. Any refund request approved towards any service cancellation where the payment is made through E-Payment Gateway will be subject to deduction of administration fee of 5% and our policies.
  • 4. Any funds credited erroneously to our account will be subject to administration fee of 5% and will be refunded within 15 to 20 working days after receiving the email from the authorised person only after submitting the requested and authorised documents. Refunds will be done only through the original mode of payment or any other mode decided by us.
  • 5. Multiple transactions may result in multiple postings to the cardholder’s monthly statement. The purchaser should contact us if there are multiple postings for the same transaction in the cardholder’s monthly statement.

Delivery Policy

  • 1. The purchaser of our services will receive an instant payment notification by email once the payment is debited from his debit or credit card and we will share the payment acknowledgment within four working days to the registered email address of the purchaser.
  • 2. Our services will be delivered once the payment has been received from the purchaser. Our service delivery is based on the information, explanation, clarification, documentary evidence and relevant documents provided by the purchaser. We do not have a standard service delivery time as we provide variety of services and each service may take different time under different circumstances.