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Internal Audit &Controls Review
Independent reviews of your controls and processes across finance, purchasing, sales and payroll, finding weaknesses and leakage before external auditors or regulators do.
- Controls Testing
- Process Reviews
- Fraud Risk
- Clear Findings
- Action Plans
Published Updated
Find the Gaps Before They Cost You
Internal audit is an independent review of how well a business’s controls work in practice. It is not generally required by law for private UAE companies, but it is one of the most effective ways to prevent errors, leakage and fraud as a business grows.
As teams grow, owners step back from approving every payment, and controls that once lived in one person’s head need to be written down and tested. We review your key processes, test whether controls actually operate, and give you a short list of practical fixes ranked by risk.
How Internal Audit Works
Six steps from planning to follow-up.
- 01
Risk Assessment
We identify the processes where errors or losses would hurt most.
- 02
Audit Plan
Scope, timing and areas agreed with you.
- 03
Process Walkthroughs
Each process mapped with the people who run it.
- 04
Controls Testing
Samples tested to see whether controls work in practice.
- 05
Findings Report
Weaknesses reported with risk ratings and recommended fixes.
- 06
Follow-Up
Agreed actions tracked until they are in place.
What You Need to Provide
What we typically need for an internal audit.
- Organisation chart and approval limits
- Existing policies and procedures
- Access to accounting and operational systems
- Samples of transactions for testing
- Prior audit reports, if any
Why Use TMFS for Internal Audit
Independent eyes find what busy teams miss.
Controls tested, not just documented
Findings ranked by risk
Practical, affordable fixes
Fraud and leakage risks highlighted
Better preparation for external audit
Follow-up until actions are complete
The TMFS Advantage
What sets our internal audit work apart.
Risk-Based
Time spent where the risk is, not spread evenly.
Clear Reports
Findings in plain language, with owners and deadlines.
Practical Fixes
Recommendations sized for growing businesses.
Independent View
An outside review that management can rely on.
Why Businesses Choose TMFS for Internal Audit
Three things clients mention most.
Real issues
Findings that matter to the business.
Lower risk
Weaknesses fixed before they cause losses.
Usable advice
Fixes your team can actually put in place.
What Clients Say
Feedback from founders who set up with TMFS.
Internal Audit: Frequently Asked Questions
Common questions about internal audit.
Is internal audit mandatory?
Not for most private UAE companies. Some regulated sectors and listed companies have specific requirements.
How is it different from external audit?
External audit gives an opinion on your financial statements. Internal audit tests how your processes and controls work and recommends improvements.
How often should it be done?
Many businesses review their highest-risk areas once a year, rotating through other areas over time.
Which areas do you review?
Commonly purchasing and payments, sales and receivables, payroll, inventory, cash and IT access.
Will findings go to anyone else?
No. Reports go to you, or to whoever you nominate, such as a board or audit committee.
Sources & official references
Verification & independence
Prepared from publicly available guidance from UAE regulators and UAE federal law as of October 2026. Time Machine Financial Services is independent of UAE regulators and is not affiliated with or acting for any UAE government authority.
Governance and control expectations change. Confirm the current position for your situation with UAE regulators, or ask us, before acting on this page.
Get expert advice
Speak to a UAE setup specialist
Tell us what you need and a consultant will reply within one working day, with no obligation.
- The consultant you speak to stays on your file
- A straight answer on structure, cost and timeline
- A reply within one working day
- A free 20-minute consultation
Want Your Controls Reviewed?
Talk to a TMFS consultant about an internal audit focused on your highest-risk processes.
Book a Consultation