Quotation Estimate Auditor in United Arab Emirates Abu Dhabi –Free Word Template Download with AI

Quotation Estimate

Quotation Details

Quotation No: QE-2025-0784

Date of Issue: 15 June 2025

Valid Until: 15 July 2025

Currency: AED (United Arab Emirates Dirham)

Client Information

Company: Gulf Horizon Trading FZE

Address: Khalifa City A, Plot 45, Abu Dhabi, United Arab Emirates

Contact: Mr. Khalid Al Mansoori

TRN: 100987654300003

This Quotation Estimate is issued by Al Noor Audit & Advisory Services LLC, a licensed and registered firm operating in the United Arab Emirates Abu Dhabi jurisdiction, to provide a comprehensive and transparent breakdown of professional Auditor services. The scope of engagement outlined herein has been prepared in accordance with the International Standards on Auditing (ISA) as adopted by the Abu Dhabi Securities Corporation (ADSC) and the relevant regulations of the UAE Ministry of Finance. This document serves as a formal Quotation Estimate for the financial year ending 31 December 2025 and encompasses all deliverables, timelines, and associated costs for the proposed Auditor engagement.

Scope of Auditor Services

The proposed Auditor engagement will include a full statutory audit of the financial statements of Gulf Horizon Trading FZE, prepared in compliance with International Financial Reporting Standards (IFRS) and the UAE Commercial Companies Law (Federal Law No. 32 of 2021). The Auditor team, led by a Chartered Accountant registered with the Abu Dhabi Securities Corporation, will perform risk-based audit procedures including but not limited to: verification of revenue and cost of goods sold, confirmation of trade receivables and payables, physical inventory observation at the client's warehouse in Khalifa City, review of bank reconciliations, assessment of internal controls, and evaluation of compliance with UAE tax obligations including Corporate Tax (Federal Decree-Law No. 47 of 2022) and Value Added Tax (VAT) under the Abu Dhabi Tax Authority.

Itemized Cost Breakdown

#	Description of Service	Duration	Rate (AED)	Amount (AED)
1	Planning & Risk Assessment – Initial Auditor engagement meeting, understanding of business operations in Abu Dhabi, and development of the audit plan	5 working days	1,200 / day	6,000.00
2	Substantive Testing – Detailed examination of financial records, journal entries, and supporting documentation for the fiscal year	15 working days	1,500 / day	22,500.00
3	Inventory Count & Valuation – On-site physical observation at client premises in Abu Dhabi, United Arab Emirates	2 working days	2,000 / day	4,000.00
4	Compliance Review – UAE Corporate Tax, VAT, and ADSC regulatory compliance assessment	5 working days	1,400 / day	7,000.00
5	Management Letter & Internal Control Recommendations – Written report of findings and remediation suggestions	3 working days	1,300 / day	3,900.00
6	Audit Report Preparation & Issuance – Final Auditor opinion letter, signed and sealed, submitted to ADSC and relevant UAE authorities	5 working days	1,600 / day	8,000.00
7	Post-Audit Support – Q&A sessions, regulatory filing assistance, and follow-up consultations (up to 30 days post-issuance)	Ongoing	Flat fee	3,500.00
Subtotal				54,900.00
VAT (5% – UAE Standard Rate)				2,745.00
TOTAL AMOUNT DUE				57,645.00

Payment Terms

Payment for this Quotation Estimate shall be made in three installments: (i) 40% (AED 23,058.00) upon execution of the engagement letter; (ii) 40% (AED 23,058.00) upon completion of substantive fieldwork; and (iii) 20% (AED 11,529.00) upon delivery of the final Auditor report. All payments shall be made via bank transfer to the firm's designated account in Abu Dhabi, United Arab Emirates. A 2% late payment penalty shall apply to any outstanding balance exceeding 14 days from the due date, in accordance with UAE commercial practice.

Terms and Conditions

1. This Quotation Estimate is valid for thirty (30) calendar days from the date of issue. Beyond this period, rates and availability of the Auditor team are subject to revision.

2. The Auditor engagement is governed by the laws of the United Arab Emirates, and any disputes shall be subject to the exclusive jurisdiction of the courts of Abu Dhabi, United Arab Emirates.

3. The client agrees to provide timely access to all books, records, physical assets, and personnel necessary for the Auditor to perform the engagement. Delays in access may result in additional charges at the daily rate specified in this Quotation Estimate.

4. The Auditor shall maintain strict confidentiality in accordance with the UAE Federal Decree-Law on the Protection of Personal Data (Federal Decree-Law No. 45 of 2021) and the professional code of ethics of the Abu Dhabi Securities Corporation.

5. This Quotation Estimate does not constitute a binding contract until a formal engagement letter is executed by both parties. The terms herein shall form the basis of such engagement letter.

6. The Auditor reserves the right to withdraw from the engagement if material misstatements, fraud, or non-cooperation are identified during the audit process, in which case fees for work performed to date shall remain payable.

7. All deliverables, including the final audit opinion, management letter, and compliance reports, shall be issued in both Arabic and English to satisfy the regulatory requirements of the United Arab Emirates Abu Dhabi authorities.

Acceptance

By signing below, the client acknowledges receipt of this Quotation Estimate and agrees to the scope, fees, and terms outlined for the proposed Auditor engagement in the United Arab Emirates Abu Dhabi.

For: Al Noor Audit & Advisory Services LLC
Authorized Signatory / Lead Auditor
Name: _________________________
Date: _________________________ For: Gulf Horizon Trading FZE
Authorized Representative
Name: _________________________
Date: _________________________ ⬇️ Download as DOCX Edit online as DOCX

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