A limited review provides a lower level of assurance than a full audit but significantly more than management's own representation. It is conducted in accordance with International Standard on Review Engagements (ISRE) 2400 and involves inquiry and analytical procedures applied to financial statements, without the full substantive testing and verification that a statutory audit requires. In the UAE, limited reviews are commonly used for interim financial statements, group reporting packages required by parent entities and lender covenant compliance reports.
CashLaw Global provides limited review engagements for UAE businesses requiring independent financial statement assurance that falls below the threshold of a full statutory audit. Our review reports are prepared by qualified chartered accountants and include a clear statement of the procedures performed, the limitations of the engagement, and the conclusion on whether anything has come to our attention that causes us to believe the financial statements are not prepared in accordance with the applicable financial reporting framework.
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Book Free ConsultationA standard audit provides a high level of assurance via extensive testing, physical verifications, and external corroboration. A Limited Review provides a moderate level of assurance based primarily on analytical review procedures and management inquiries, resulting in a "negative assurance" conclusion stating that no material modifications were identified.
Publicly traded companies listed on the DFM or ADX are legally mandated to publish quarterly financial updates. Because a full audit is too time-consuming for quarterly reporting cycles, regulators accept a Limited Review to maintain investor transparency.
No. The majority of UAE Free Zones that mandate annual financial reporting explicitly require a full statutory audit report; a limited review does not meet their annual compliance standards.