📅 Published: July 2026 | Reading time: 6 minutes
🔍 Strengthen your business with professional internal audit services. AcontPro helps you identify risks, improve controls, and prevent fraud.
An internal audit is an independent review of your business operations, internal controls, and risk management processes. Unlike statutory audits (which are mandatory and focus on financial statements), internal audits are voluntary and focus on improving your business – not just checking compliance.
| Feature | Internal Audit | Statutory Audit |
|---|---|---|
| Purpose | Improve operations and controls | Verify financial statements for regulators |
| Mandatory | No – voluntary | Yes – legally required |
| Focus | Risk, controls, efficiency | Financial accuracy and compliance |
| Audience | Management and board | Shareholders, regulators, banks |
| Frequency | Continuous or periodic | Annual |
External audit (statutory audit) is mandatory and provides assurance to stakeholders about financial statements. Internal audit is voluntary and focuses on improving internal controls, risk management, and operational efficiency.
Yes. Internal audit and statutory audit serve different purposes. Internal audit helps you improve your business, while statutory audit is for compliance.
It depends on your business size and complexity. Many companies conduct internal audits annually or semi-annually.
Costs vary based on scope and complexity. Contact us for a free quotation.
Bineetha Gireesh is the manager of AcontPro, a licensed accounting and tax consultancy firm based in Deira, Dubai. She specialises in internal audit, risk management, and compliance services for SMEs and large enterprises across the UAE.