What It Is, When It’s Required, and How to Pass It Smoothly

What Is a Bank-Requested Audit?

A bank-requested audit is a financial review initiated by your bank to verify the accuracy of your company’s financial statements through an independent report prepared by a licensed auditor.
Audits are conducted in accordance with international standards (such as IFRS) and tailored to meet each bank’s specific compliance requirements.
In the UAE, such requests are common and align with the broader regulatory landscape — under UAE law, all companies are required to maintain financial records and conduct annual audits. Bank audits are a natural extension of this legal and compliance framework.

When Banks Typically Request an Audit

Banks in the UAE may ask for audited financials in the following scenarios:

  1. Opening a Corporate Bank Account
    If your company has been operating for over a year, banks often require audited reports as part of their due diligence — especially to comply with KYC regulations.

  2. Applying for Loans or Financing
    Banks typically request audited financials for the past 1–3 years to assess your company’s creditworthiness and repayment ability.

  3. Ongoing Account Review / KYC Updates
    Periodic KYC and AML reviews may trigger a request for the most recent audited statements. Failure to provide them could result in account restrictions or temporary freezes.

  4. Validating Financial Activity
    If your business processes large or unusual transactions, or experiences rapid growth, the bank may request an audit to confirm the legitimacy and source of funds.

Why Banks Request an Audit

  • To assess your company’s financial health

  • To meet Central Bank UAE requirements for KYC/AML

  • To ensure revenue sources are legitimate

  • To minimize risk when offering banking services

What Your Audit Report Provides to the Bank

  • Reliable figures on revenue, expenses, assets, and liabilities

  • Confirmation of lawful operations and transparent accounting

  • Increased trust — particularly when applying for credit, raising limits, or maintaining services

Failure to submit an audit report when requested may result in denial of account opening, suspension of current accounts, or termination of services.

How a Professional Accounting Firm Can Help

You cannot conduct an audit on your own — it must be performed by licensed auditors registered with the UAE Ministry of Economy or approved by relevant Free Zone authorities.
Partnering with an experienced firm ensures a smoother process, avoids mistakes, and increases your chances of bank approval.

Why Choose Make Fortune for Bank Audits

  1. Licensed and Compliant Auditors
    Our audit reports meet all legal and regulatory standards and are accepted by banks across the UAE.

  2. Extensive Experience with Banks
    We understand how bank compliance teams operate. We know the formats, expectations, and audit nuances required under KYC/AML protocols. We’ve handled bank audits for clients across various banks in the UAE — making the process faster and easier.

  3. Objectivity and Accuracy
    We review all core documents — ledgers, financial statements, bank statements — and validate our findings with source records. The result is a reliable audit report that earns trust from banks, investors, and regulators.

  4. Speed and Deadline Compliance
    When the bank gives you a deadline, timing is critical. We initiate the audit quickly and deliver on time to avoid account freezes or application rejections.

  5. End-to-End Support
    We guide you through what your bank specifically needs, prepare the required documentation, and can also assist with your annual audit, FTA audit, or other financial reporting requirements.

Final Thoughts

A bank-requested audit in the UAE is not a stress point — it's a standard compliance measure.
Whether you're opening a new account, applying for a loan, or updating your KYC profile, a clear and timely audit is the key to keeping your banking relationship intact.

At Make Fortune, we ensure your audit is accepted by the Ministry of Economy, Central Bank UAE, and any regulatory body — with no delays, no complications, and no unanswered questions from your bank.