Consolidated financial statements
Parent and every controlled entity combined under IFRS 10 into one set of group accounts.
Audit & Assurance
Group & consolidation audits in the UAE
When you own more than one company, the numbers that matter are the group's — parent, subsidiaries, branches and joint ventures, combined into one consolidated set. We audit UAE groups end to end under IFRS 10 and the revised ISA 600: eliminations, goodwill, non-controlling interests and every component, resolved into a single clean opinion. Fixed fee, agreed before we start.
IFRS 10
The consolidation standard we apply
ISA 600
Revised group-audit standard, now in force
One opinion
Across parent, subsidiaries & branches
Fixed fee
Agreed before we start
What it means
What is a group / consolidation audit?
A group audit is the audit of consolidated financial statements — the combined accounts of a parent and the companies it controls, presented as if the group were a single entity. Consolidation is the accounting; the group audit is the independent opinion over the result.
Consolidation follows IFRS — IFRS 10 (control and consolidation), IFRS 3 (acquisitions and goodwill), and IAS 28 and IFRS 11 (associates and joint arrangements). The group audit follows the revised ISA 600, effective for periods beginning on or after 15 December 2023, which sets how the group auditor scopes components, sets component materiality and directs any component auditors.
UAE groups are rarely tidy — a holding company, free zone and mainland subsidiaries, an offshore vehicle, perhaps an overseas branch. Under corporate tax, related UAE companies can form a Tax Group and file one return, and Ministerial Decision No. 84 of 2025 requires tax groups to prepare audited financial statements. Banks lend against group numbers, and investors buy the group — not a single entity.
The work is in the joins: eliminating intercompany sales, balances and unrealised profit; measuring goodwill and non-controlling interests; aligning accounting policies and year-ends across entities; and translating foreign currencies. Get one join wrong and it flows through the whole consolidation. We handle all of it.
What we handle
What our group audit service covers
One engagement team owns the whole group — every entity scoped, the consolidation tested, and a single opinion issued that lenders, investors and the FTA will accept.
Intercompany eliminations
Intra-group sales, balances, loans and unrealised profit removed, so the group shows only outside activity.
Goodwill & business combinations
Acquisitions accounted under IFRS 3 — purchase price allocation, goodwill and annual impairment testing.
Non-controlling interests
Minority stakes measured and presented correctly, with profit and equity split between the group's owners.
Associates & joint ventures
Equity-accounted holdings under IAS 28 and IFRS 11 brought correctly into the group result.
Components & multi-entity coordination
One team scoping every component under ISA 600 — including entities audited by other firms.
Who needs one
When a group audit is required
Consolidation may be required by accounting standards, by corporate tax, or by whoever is relying on your group's numbers. If any of these apply, standalone accounts are not enough.
You control other companies
IFRS 10 requires a parent that controls other entities to present consolidated financial statements.
You file as a corporate tax group
Ministerial Decision No. 84 of 2025 requires tax groups to prepare audited financial statements.
A lender wants group numbers
Banks size facilities against consolidated results, not a single company's accounts.
Investors or a sale are on the table
Due diligence and valuations are built on the group — including goodwill and non-controlling interests.
You've made an acquisition
A business combination under IFRS 3 needs purchase accounting and goodwill brought into the group.
Entities sit in different jurisdictions
Free zone, mainland, offshore and overseas branches must be aligned, translated and combined.
A free zone expects consolidated accounts
Some holding structures and authorities require audited consolidated statements.
You report to a parent abroad
An overseas head office needs UAE numbers consolidated on a common policy and calendar.
The signals
When to line up a group audit
Consolidations go wrong when entities don't reconcile, policies differ, and no one owns the whole. If any of these sound familiar, it's time to talk.
You've set up a holding company
A new parent now controls the others, and the group must be consolidated.
You acquired or merged
A business combination brings goodwill, fair values and a new component into the group.
Different books, different auditors
Entities run on different systems, policies or year-ends and nothing ties together.
Your tax group needs accounts
You file one corporate tax return and need audited group financials behind it.
Intercompany won't net to zero
Loans and recharges between entities don't reconcile and need untangling.
A parent overseas needs reporting
Head office wants a consolidated UAE reporting package, on their calendar.
How we help
From group structure to one opinion, in five clear steps
One engagement team owns the consolidation — with a fixed fee agreed up front and a clear view of which step you're on.
1
Week 1
Scope the group
We map the structure — parent, subsidiaries, JVs, branches — confirm control under IFRS 10, and identify the significant components.
2
Week 1–2
Set materiality & plan
We set group and component materiality under ISA 600 and plan the work around each entity's books and any other auditors.
3
Week 2–4
Audit components & consolidation
We audit the significant components, review the consolidation, and test eliminations, goodwill, NCI and currency translation.
4
Week 4–5
Clear & opine
Findings and adjustments cleared across entities, the consolidation finalised, and one group audit opinion issued.
5
When needed
Deliver & support
We deliver the consolidated report for lenders, investors, your tax group or an overseas parent — and stand behind it.
Common questions
UAE group & consolidation audit — FAQs
The questions we're asked most about group and consolidation audits in the UAE — answered plainly.
What is the difference between a standalone audit and a group audit?
A standalone audit covers a single company. A group audit covers consolidated financial statements — a parent and every entity it controls, combined into one set under IFRS 10, with a single opinion over the whole group.
The extra work is in combining the entities: removing intercompany transactions, measuring goodwill and non-controlling interests, and aligning accounting policies and year-ends.
When must a UAE company prepare consolidated financial statements?
Under IFRS 10, a parent that controls one or more other entities must present consolidated financial statements. In practice that means most holding companies and multi-entity groups in the UAE, unless a narrow exemption applies.
Is a consolidation audit required for corporate tax?
If related UAE companies form a Tax Group and file one return, Ministerial Decision No. 84 of 2025 requires the tax group to prepare audited financial statements. Note that a corporate tax group is defined by ownership and residency and may not match your accounting consolidation exactly.
What is ISA 600?
ISA 600 is the International Standard on Auditing for group audits. The revised version, effective for periods beginning on or after 15 December 2023, sets how the group auditor identifies components, sets component materiality, and directs and reviews any component auditors.
Can you audit a group where subsidiaries are audited by other firms?
Yes. As group auditor we scope each component, decide where we need to be involved, and use the work of component auditors under ISA 600 — while remaining responsible for the overall group opinion.
How are intercompany transactions and goodwill handled?
Intra-group sales, balances and unrealised profit are eliminated so only outside activity remains. Goodwill arising from acquisitions is recognised under IFRS 3 and tested for impairment each year. Both are areas we test closely during a group audit.
How long does a group audit take?
Longer than a single-entity audit, because each significant component and the consolidation itself are audited. A straightforward group runs a few weeks once records are ready; more entities, more jurisdictions or a first-time consolidation add time. We quote a fixed fee up front.
Get started
Get your group audit scoped.
Tell us your group structure — the parent, the entities under it and where they're incorporated — and we'll reply within one business day with a clear scope and an all-inclusive fixed fee.
Thank you — we've got your details.
One of our audit managers will be in touch within one business day.
One of our audit managers will be in touch within one business day.