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Dependable Auditing Support for the Unique Challenges of Oil and Gas in UAE

Specializing in the dynamic landscape of Oil and Gas, our expert auditors deliver comprehensive auditing services for companies in UAE, ensuring financial robustness in strict compliance with industry standards and regulatory guidelines

Rigorous audits ensure smooth sailing in the dynamic realm of Oil & Gas. Our meticulous financial scrutiny guarantees a steady course, navigating industry complexities for optimal financial performance.

Embark on a journey to chart financial progress in the vast horizon of the Oil & Gas industry. Our expertise acts as a compass, guiding your endeavours towards prosperity, stability, and sustainable growth

Navigate the waves of accounting accuracy in the Oil & Gas sector through precise auditing. Our expertise acts as a lighthouse, guiding your financial ventures to safety and prosperity.

Anchor your financial confidence in the vast sea of Oil & Gas. Our expertise acts as a steadfast anchor, providing stability and assurance amidst the industry's fluctuations. Trust us as your anchor

Our Major Service Sectors

Insurance
Ensure accurate recording of the claims and premiums of various policies of insurance and also monitor the cashflows from the receivables with the help of premium audit services from CDA.
Construction and MEP
Get accurate cost sheets, profit margin reports, and bank and credit reconciliations with the help of personalised audit services for your construction and MEP services in Dubai.
Event Management
Implement proper internal controls and provide quarterly and annual reports to the stakeholders of your event management company in Dubai with the robust auditing services of CDA.
Ecommerce
Ensure the compliance of your firm with international standards for preparing the accounts and recording transactions with the help of customised audit services from CDA in Dubai.
Manufacturing
Ensure proper inventory management and track the efficiency of each production department of your manufacturing businesses in Dubai with the help of stringent audit services provided by CDA.
Marine
Support your stakeholder’s interest and provide them with the quality audit reports prepared by the veteran auditors of CDA in Dubai at very friendly costs.
Oil and Gas
Get proper insights into the organisational performances of your oil and gas business in Dubai and get accurate cost analysis reports with the help of premium audit reports prepared by our expert auditors.
Real Estate
Identify the risks and implement innovative solutions for your real estate business in Dubai with the help of personalised audit services provided by the auditors at CDA.
Restaurants
Track and monitor all the expenses and income of your business accurately and ensure proper recording of such transactions with the help of CDA’s simplified audit services for your restaurant business.
Testimonials

What do people praise about CDA?

Nabil Yasin
Managing Partner - Al Nahdah National Insurance Brokers Co. LLC
When it comes to financial and accounting matters nobody can compete with him. I am sure that Charles & his team can satisfy all the clients as well. In my opinion he is very good in controlling cost & advising for better decision making. Such a hardworking and dedicated individual is just a reason why we love the whole experience from CDA.
Thomas Esow
Finace Director - Al Andalous Electromechanical Works Co. LLC
CDA is really great at completing works before deadline. At the same time, CDA gave us exceptional accuracy, highly responsive, highly professional and experts in IFRS & UAE VAT Laws. It’s also great to have reports and schedules that meet our requirements. Altogether, the services from CDA is worth having at any cost.
Shijo Joseph
Managing Director - Orchid Interiors
I am extremely pleased with the professionalism of the whole team at CDA especially Mr.Charles, the managing director. They have been the greatest addition to our management accounting by providing high levels of accuracy and work productivity and have made all our financial matters “The walk in the park” for us. It is really appreciated and highly recommended.
Gautam Mehta
Financial Controller - Tile Marine LLC.
I would say CDA is only value addition to any firm or person who intend keep the accounts maintained. CDA's approach to maintain accounts is very methodical. They have the experience, work ethics, and support staff who are ready to go that extra mile to get the work done. They are available 24*7, to fulfill management's requirement and produce easy to understand reports. I would personally recommend to outsource accounts to CDA, then to keep inhouse accountant.
Dania Zaibak.
Operational Manager. - Gas Care LLC
CDA team has the best service and support to our company Gas Care LLC. Charles and Job always supportive and helpful and makes our Auditing process much easier and smooth. They never ignore a call and always ready to help and clarify our concerns.
FAQ

FAQs on Auditing for Oil and Gas Companies in UAE

No, conducting an audit will not affect your firm’s goodwill, as it is a thorough evaluation of the financial records. In fact, it may increase confidence among stakeholders as your company maintains transparent operations.

There are many objectives of conducting an audit for the oil and gas firm, like ensuring the effectiveness of internal controls placed within the business, detecting the frauds prevailing in the oil and gas business, exposing the risks to which your business is prone, etc.

No, you will never lose control over the accounts and operations when you adopt the auditing process. The auditors that you hire will obey your instructions and, hence, will conduct an unbiased audit process for your business with maximum accuracy.

The duration of an audit cannot be precisely stated as it varies from firm to firm based on its characteristics. For the oil and gas industry, the duration may vary from 6 to 12 months depending on the volume of operations and transactions.

The auditors, while conducting the audit, will ensure that you comply with all the rules and regulations of the law, thereby ensuring the compliance framework and saving you from paying huge penalties to the authorities.

CDA provides a variety of services to entities in Dubai and the UAE, ranging from accounting and bookkeeping services to VAT registration and filing services, CFO services, payroll management, audit services, tax consultation services, IFRS advisory services, cost accounting services, and many more.

Talk to our experts for free to obtain further information.

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Reach out to UAE's most reliable Auditing Services for Oil and Gas Companies

Auditing services for Oil and Gas Companies in UAE

In the United Arab Emirates (UAE), one of the most significant industries is the oil and gas sector. It contributes significantly to the GDP, employment, and income of the nation. As a result, it is critical to make sure UAE-based oil and gas businesses are conducting business legally and effectively, which increases the relevance of auditing services for such firms. CDA has been serving the varied auditing needs of oil and gas companies for more than a decade, which has made it one of the lead players in auditing services in UAE

Importance of Auditing in the Oil and Gas Industry

Auditing is an essential tool for ensuring the financial and operational health of oil and gas companies. An audit can help identify and address any potential risks or problems that firms may face. It can also provide assurance to shareholders and investors that the company is being managed properly.

There are a number of specific challenges that oil and gas companies in the UAE face when it comes to auditing. These include:

  • The complexity of the industry: The oil and gas industry is a complex and highly regulated industry. This can make it difficult to conduct a comprehensive audit.
  • The need for specialized expertise: Auditors are required to have a deep understanding of the oil and gas industry in order to conduct an effective audit.
  • The need for independence: Auditors must be independent of the company being audited in order to provide objective assurance.

CDA’s Auditing services for the Oil and Gas Industry

CDA is a leading audit firm in UAE with a wealth of experience in auditing oil and gas companies. We have a team of highly qualified and experienced auditors who have a deep understanding of the oil and gas industry. We are also independent of our clients, which ensures that our audits are objective and unbiased. Hence, we assure you with premium audit services at a low cost and with top level accuracy for your oil and gas industry in UAE

Ensuring compliance to Regulations and standards with CDA for oil and gas companies in the UAE

Auditing oil and gas companies in the UAE is a crucial task that ensures transparency, accountability, and adherence to industry regulations. The UAE has implemented a set of regulations and standards specifically designed to govern audits in the oil and gas sector. 

These regulations and standards aim to maintain the integrity of financial reporting and safeguard the interests of stakeholders. One of the primary regulations governing the auditing of oil and gas companies in the UAE is Federal Law No. 2 of 2015 on Commercial Companies. 

This law sets out the legal framework for companies operating in the UAE and outlines the requirements for financial reporting and auditing. It mandates that all companies, including those in the oil and gas sector, must appoint an external auditor like CDA to conduct an annual audit and issue an independent opinion on the company's financial statements. In addition to the federal law, oil and gas companies in the UAE are also subject to sector-specific regulations. CDA ensures that these regulations are met and protects the oil and gas industry from paying huge penalties to the authorities for the non-compliance. With CDA you can sit back and focus on your core operations while our team handles your compliance frameworks and accuracy of accounts

CDA as your Assistance

CDA is committed to helping oil and gas companies in the UAE operate in a compliant and efficient manner. We offer a wide range of audits and other services to help our clients achieve their business goals.

Here are some specific examples of how CDA can help oil and gas companies in the UAE with their auditing needs:

  • CDA can help oil and gas companies develop and implement audit plans that are tailored to their specific needs.
  • CDA can help oil and gas companies identify and assess risks.
  • CDA can help oil and gas companies develop and implement internal controls to mitigate risks.
  • CDA can help oil and gas companies prepare for and undergo financial and operational audits.
  • CDA can help oil and gas companies remediate any findings from audits.

CDA is a trusted partner for many oil and gas companies in the UAE. We are committed to providing our clients with the highest-quality audits and other services.

Auditing under different accounting Concepts for Oil and Gas Companies

Oil and gas companies use a variety of accounting concepts to track their financial performance. The two most important methods are:

  • Full Costs (FC) method: This method includes all of the costs associated with finding, developing, and producing oil and gas reserves, which are audited in the end.
  • Successful Efforts (SE) Method: This method only includes the costs of successful exploration and development activities, which are also included under the auditing purview.

In addition to these two methods, oil and gas companies also use other accounting concepts such as depreciation, depletion, and amortization whose accuracy is evaluated through an audit.

CDA’s varied services for Oil and Gas Companies in the UAE

CDA Accounting and Bookkeeping Services LLC is a team of highly qualified professionals and experts who specialize in providing accounting and auditing services to oil and gas companies in the UAE. We offer a number of services, such as:

  • Accounting and bookkeeping services
  • Business advisory services
  • CFO and controller services
  • Internal audit services
  • External audit services
  • Tax audit and consultation with VAT filings

CDA as Your Auditing Guide 

 At CDA, we understand the unique challenges faced by oil and gas companies in the UAE. We have a team of highly qualified and experienced professionals who can provide you with the full range of accounting and auditing services you need to stay compliant and operate efficiently.

We offer a personalized approach to our services, and we are committed to building long-term relationships with our clients. We will customize our services to fit your individual demands because we recognise how special your company is.

If you are looking for a reliable and experienced accounting and auditing firm to help you manage your oil and gas company in the UAE, we encourage you to contact CDA today. We offer a consultation to discuss your specific needs and how we can help you achieve your business goals

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