In Dubai, preparing financial statements is a strategic requirement, not just an annual chore. To secure investment, maintain your trade license, and comply with UAE Corporate Tax regulations, your reports must adhere strictly to the International Financial Reporting Standards (IFRS). FrankDigit Accounting Services specializes in translating your day-to-day transactions into IFRS-compliant statements that are fully prepared for external scrutiny, guaranteeing audit-readiness.
Led by Bilal Mogul, our expertise ensures your financial health is presented with clarity and global credibility. We use a detail-oriented, tech-driven approach to deliver the highest level of Confidentiality, Transparency, and Integrity (CTI), ensuring your reports provide genuine insight while securing your compliance with the Federal Tax Authority (FTA) and Free Zone regulators.
IFRS (International Financial Reporting Standards) is the globally recognized set of accounting principles that dictates how assets, liabilities, revenues, and expenses should be reported. Compliance with IFRS is now the baseline for most entities in the UAE, especially for those with annual revenue exceeding AED 50 million or those operating in Free Zones requiring audited financials for license renewal.
IFRS compliance ensures your financial statements are transparent, comparable, and reliable. Non-compliance risks audit failure, license suspension, loss of investor confidence, and inaccurate calculation of your Corporate Tax liability. Our service ensures you meet the framework of IFRS for SMEs or full IFRS, based on your business size and complexity.
We provide the essential financial documentation needed by banks, investors, regulators, and management, all prepared to the highest standard.
| Deliverable | How FrankDigit Delivers |
|---|---|
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IFRS-Compliant Statements |
Preparation of all four core statements: Balance Sheet, Income Statement, Cash Flow, and Statement of Changes in Equity. |
|
Full Disclosures & Notes |
Drafting detailed notes to accounts, including disclosures on accounting policies, estimates, and related party transactions as required by IFRS. |
|
Audit-Ready Documentation |
Ensuring all entries are backed by verified source documents (invoices, contracts, ledgers) and a complete audit trail. |
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Corporate Tax Alignment |
Financial statements are precisely structured to serve as the foundation for Corporate Tax calculation, minimizing audit queries from the FTA. |
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Management Insights |
Beyond compliance, we offer reports that highlight key performance indicators (KPIs) and operational efficiency for internal decision-making. |
Achieving audit-readiness requires meticulous attention to specific standards relevant to the UAE business landscape.
We specialize in applying complex IFRS standards to your unique operations. This includes applying IFRS 15 (Revenue Recognition), which is crucial for service and trading companies, and handling the complex accounting for leased assets under IFRS 16 (Leases). For businesses with significant financial instruments or complex equity structures, we ensure full compliance with IFRS 9, guaranteeing accurate valuation and risk disclosure.
An audit-ready status means your external auditor can efficiently verify your statements with minimal queries. We proactively reconcile all key accounts (banks, fixed assets, inventory) and organize your records for the mandated retention period of at least five years in the UAE. Our pre-audit review process simulates an external audit, identifying and correcting potential issues like unrecorded liabilities or revenue misclassification before the official engagement.
We make your financial year-end a smooth, predictable, and fully compliant exercise.
- Decode (Records Review): We conduct a meticulous review of your annual General Ledger, ensure all monthly reconciliations are complete, and verify the correct application of accounting policies according to IFRS.
- Simplify (Statement Drafting): Our experts draft the complete set of IFRS-compliant financial statements, including the required primary reports and the technical notes and disclosures.
- Automate (Audit Coordination): We finalize the audit-ready reports, compile all necessary supporting documentation, and act as the primary liaison with your external auditors, ensuring a seamless and efficient clearance process.
Is your financial reporting holding back your growth or risking penalties? Secure your credibility with IFRS-compliant, audit-ready reports.
📞 Contact FrankDigit Accounting Services today to ensure your next financial report is perfect.