Full statutory audits are broad, but many situations—from lending requirements to lease renewal—demand targeted, specific verification. FrankDigit Accounting Services offers specialized assurance services, including comprehensive Sales Audits (Gross Turnover verification) and flexible Agreed Upon Procedure (AUP) Reports. These services provide independent, factual findings precisely tailored to the needs of your bank, landlord (mall management), or potential investor.
We remove ambiguity by focusing expert scrutiny on your highest-risk areas. Our dedication to Confidentiality, Transparency, and Integrity (CTI) ensures the resultant report is accurate, credible, and fully compliant with the reporting standards (ISRS 4400) required by third parties in the Dubai market.
A Sales Audit (or Gross Turnover Audit) is a targeted review of a company’s revenue records, often mandatory for retail tenants in UAE malls to verify gross sales for Turnover Rent calculation. An Agreed Upon Procedure (AUP) is a much broader, customizable engagement where the auditor performs only the specific, pre-defined procedures agreed upon by the client and a third party (the user of the report). Unlike a full audit, the auditor does not express an opinion, but simply reports factual findings (ISRS 4400 standard).
We offer precise, context-specific reporting that supports compliance and critical financial decisions.
| Delieverable | How FrankDigit Delivers |
|---|---|
|
Gross Turnover Certification |
Mandatory auditing of retail sales records against lease terms, issuing a certified report for Mall Management and Landlords. |
|
Specific Account Verification (AUP) |
Performing limited-scope reviews to verify specific figures like Cash Balances, Inventory Levels, or Loan Covenant compliance. |
|
Internal Controls Testing (AUP) |
Focused testing of controls over specific workflows (e.g., procurement, payroll) to investigate suspected internal fraud or inefficiency. |
|
Acquisition Due Diligence (AUP) |
Verifying the accuracy of projected revenue streams, key contracts, or liabilities on behalf of a potential buyer or merger partner. |
|
Regulatory Compliance Check (AUP) |
Targeted verification that sales transactions correctly account for VAT (zero-rated vs. standard) and align with AML rules. |
These focused audit services address immediate, high-priority business needs that fall outside the scope of a routine annual audit.
For any retailer in a major Dubai mall, submitting an annual audited statement of Gross Turnover is a contractual obligation. Mall management uses this report to calculate variable rent. Our specialized Sales Audit ensures that the underlying Point-of-Sale (POS) data, daily transaction logs, and revenue recognition policies are all compliant and defensible, preventing lease non-renewal or disputes over rent calculation.
When seeking financing, a bank or investor often requires assurance on just one or two critical balance sheet items, rather than paying for a full, time-consuming audit. An AUP Report is the cost-effective solution. We perform the exact procedure requested (e.g., confirming the existence of fixed assets or verifying the balance of a high-value account receivable) and present the verifiable facts, allowing the third party to quickly draw their conclusion and move the transaction forward.
We provide a rapid, collaborative service that delivers only the objective facts needed for confident decision-making.
- Decode (Procedure Definition): We consult with your management and the third party (bank/landlord) to meticulously define the exact scope, objectives, and audit steps for the AUP engagement, ensuring clarity and mutual agreement.
- Simplify (Execution & Verification): Our auditors execute only the agreed-upon procedures, gathering evidence, vouching transactions, and ensuring data is verified against source documents (e.g., checking sales against bank statements).
- Automate (Factual Reporting): We issue the final AUP Report detailing the procedures performed and the factual findings observed, without expressing an opinion or assurance, giving the report user the verified data needed to proceed.
Do you need verifiable facts on a specific financial area? Gain targeted assurance without the cost of a full audit.
📞 Contact FrankDigit Accounting Services today to define your Sales Audit or AUP requirements.