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Get Your SHAMS Audit Report Accepted the First Time
Every Sharjah Media City company must file audited financial statements to meet its annual audit requirement. A SHAMS approved auditor prepares your statutory audit and readies it for smooth SHAMS Authority submission. Missing your audit compliance deadline or using an unapproved firm causes audit rejection.
Assurance Corps holds Ministry of Economy auditor registration and handles your full financial statement audit, including external audit work for every Qualifying Free Zone Person. We deliver an IFRS aligned audit report built for first time acceptance at your free zone renewal audit.
15+ Years
Experience in UAE
1,000+
Clients Served
FTA Registered
Tax Agency
Approved
Free Zone Audit Specialists
The SHAMS Audit Process
Document collection and scoping
Your audit starts with an engagement letter setting the scope of work. We collect financial statements, general ledger records, and bank statements. Sales invoices, purchase invoices, expense receipts, and payroll records follow. We also review contracts, the fixed asset register, trial balance, opening balances, and the prior year audit report.
Fieldwork and financial review
Fieldwork begins with transaction verification and bank reconciliation. We complete expense verification, accounts payable review, and accounts receivable review next. An internal controls review checks how your business handles money. We finish with a revenue recognition check, related party transaction review, supporting documentation review, and cash flow verification.
IFRS aligned audit report
Every audit follows International Financial Reporting Standards for full accuracy. We prepare IFRS compliant financial statements covering your balance sheet and income statement. The statement of cash flows and notes to financial statements complete the picture. Your report ends with an audit opinion, either unqualified or qualified, plus our auditor’s signature and stamp.
Submission to SHAMS authority
We submit your annual audit report through the SHAMS portal before your compliance deadline. This statutory filing goes directly to SHAMS Authority for review. Once accepted, you receive an audit acknowledgment supporting your licence renewal. A confirmed renewal certificate follows once SHAMS Authority approves the filing.
Audit Timeline and Fees for SHAMS Companies
How long a SHAMS SME audit takes
A standard SME audit takes three to six weeks from start to finish. Larger or complex entity audits need eight to twelve weeks to complete properly. Document readiness decides how fast your audit moves. Businesses with complete financial records and organised bookkeeping finish faster, with fewer delays. Delayed documentation is the single biggest cause of a slow audit timeline. Sending your records early keeps your renewal on schedule.
What affects the audit fee
Your audit fee depends on transaction count and overall entity size. The number of bank accounts you hold also affects the final cost. Complexity of business activity plays a direct role in pricing too. Every SHAMS audit must also meet the free zone reporting requirement set by the authority. Businesses needing backlog accounting pay more, since older records take longer to review. An incomplete records surcharge may apply if documentation arrives late or incomplete.
Why Assurance Corps Is Approved to Audit SHAMS Companies
Assurance Corps holds Ministry of Economy auditor registration certificate status, giving the firm statutory audit signing authority across the UAE. Our FTA Certified Tax Agency status, under Tax Agency Number TAN 30019921, lets us represent clients before the Federal Tax Authority. Muhammad Owais Abdul Razzaq signed as our Tax Agent credential TAAN 20065132.
The firm holds EAAA membership with the Emirates Association for Accountants & Auditors, formed under Ministerial Resolution No. 227. Every independent audit opinion follows the IESBA Code of Ethics, backed by a recognised professional standards body.
Affiliations
SHAMS Companies We Audit
Media and creative license holders
We audit every media production company and publishing company licensed under SHAMS. Our clients include broadcasting companies, digital media businesses, and film production companies. We also handle photography and videography businesses, content creation businesses, and influencer services companies. Event management companies across the UAE trust us for accurate, on time audit reports.
Consultancy and service license holders
Our audit work covers business and management consultancy firms operating in SHAMS. We serve IT services companies, software development companies, and every marketing and advertising agency. Digital marketing companies, HR and recruitment services, and education and training providers rely on us. We also audit legal consultancy firms and accounting and financial advisory firms across the UAE.
E-commerce and trading license holders
We handle audits for e-commerce businesses and online retail companies registered under SHAMS. Our team also audits general trading companies and import export businesses across the UAE. Wholesale trading companies and retail distribution businesses count on our statutory audit expertise. Each audit follows the same accuracy standard, regardless of your trading volume or category.
LOCATION WE SERVE
Areas We Serve in all over UAE
Dubai
Abu Dhabi
Sharjah
Ajman
Umm Al Quwain
Ras Al Khaimah
Fujairah
UAE AUDIT & TAX AGENCY FAQS
Frequently Asked Questions
Is an annual audit mandatory for SHAMS companies?
Yes. Businesses claiming Qualifying Free Zone Person status and the 0% corporate tax rate must meet the audited accounts requirement, with no revenue threshold, under UAE corporate tax law, alongside the economic substance requirement.
What documents do I need for my SHAMS audit?
You need financial statements, bank statements, invoices, and expense receipts. We also require payroll records, signed contracts, and full fixed asset details before starting your audit engagement.
How long does a SHAMS audit take?
Most audits take three to six weeks, depending on the complexity of financial statements. Faster management representation cooperation and full document completeness shorten your audit timeline significantly.
Can the Assurance Corps handle my audit and corporate tax filing together?
Yes. We run a separate statutory audit engagement and corporate tax filing engagement, using separate engagement letters. This follows IESBA independence safeguards through fully documented independence.
Get Your SHAMS Audit Started
Book a free consultation with Assurance Corps to start your SHAMS audit today. Choose a WhatsApp consultation or a direct chartered accountant call, whichever suits you. Every confidential consultation comes with no obligation attached. Visit our Dubai office or contact us remotely. You’ll receive a written scope summary within 24 hours of your call.